Seattle, Washington May 8, 2019 (Issuewire.com) - Global Active Pharmaceutical Ingredients Market, by API (Branded/ Innovative and Generic), by Type of Synthesis (Synthetic and Biotech), by Application (Diabetes, Oncology, Cardiovascular, CNS, Analgesics, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 153.4 billion in 2017 and is projected to exhibit a CAGR of 6.8% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Increasing investment in research and development by manufacturers to augment the market growth
An increasing number of major pharmaceutical companies are continuously focusing on the expansion of their product line in high potency API (HPAPIs) or considering investing in new HPAPIs production facilities, further outsourcing the manufacturing of APIs to contract manufacturers. This, in turn, will increase the benefits from the latter’s competency and expertise, as captive manufacturing of HPAPIs is expensive and requires stringent safety and handling specifications. This is expected to boost the growth of the active pharmaceutical ingredients market.
The outsourcing of APIs manufacturing is increasing in India, China, and Eastern European countries due to the low cost of manufacturing in these countries as compared to North America and Western Europe regions. For instance, in October 2017, Piramal Pharma Solutions (PPS), a contract development and manufacturing organization, invested US$ 55 million across its sites in Asia, to expand its API manufacturing capabilities and capacities.
Moreover, in October 2018, Lonza, the Swiss biopharma CDMO, expanded its highly potent active pharmaceutical ingredient (HPAPI) capacity for the specific support of antibody-drug conjugate (ADC) payload manufacturing. It added two new manufacturing suites at its Visp site for the manufacturing of antibody-drug conjugate (ADC) payload.
Browse 32 Market Data Tables and 20 Figures spread through 178 Pages and in-depth TOC on “Active Pharmaceutical Ingredients Market”- Global Forecast to 2026, by API (Branded/ Innovative and Generic), by Type of Synthesis (Synthetic and Biotech), by Application (Diabetes, Oncology, Cardiovascular, CNS, Analgesics, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
Request to View Sample of Report @ https://www.coherentmarketinsights.com/insight/request-sample/738
High potency active pharmaceutical ingredients are considered as a growth opportunity for pharmaceutical manufacturers and contract manufacturing organizations (CMOs) with much R&D focusing on more specialized medicines especially in the field of oncology. Increasing demand for antibody drug conjugates (ADC) is expected to propel the active pharmaceutical ingredients market growth. According to IMS Institute of Healthcare Informatics, 2016, 586 drugs were under development for oncology treatment, with over 70 new cancer treatments (for over 20 tumour types) that entered the market over the past five years (2010-2015).
Key Takeaways of the Active Pharmaceutical Ingredients Market:
The global active pharmaceutical ingredients market is expected to exhibit a CAGR of 6.8% over the forecast period, owing to increasing demand for high potency APIs, rising demand for offering API manufacturing, and increasing prevalence of chronic diseases
Among the type of synthesis, the synthetic segment held the dominant position in the active pharmaceutical ingredients market in 2018, owing to innovations in the technique opted by key players for synthesizing chemically-active pharmaceutical ingredients to enhance their potency and stability
Among application, diabetes segment held a dominant position in the active pharmaceutical ingredients market in 2018, owing to the increasing incidence of diabetes and rising approval of various diabetic drugs. For instance, in June 2014, the European Medicines Agency authorized the first biosimilar of insulin Glargine, Abasaglar from Eli Lilly and Company and Boehringer Ingelhim International GmBh, for treatment of diabetes mellitus. In 2016, this biosimilar received FDA approval in the U.S.
Companies operating in the global active pharmaceutical ingredients market include Teva Pharmaceutical Industries Ltd., Pfizer, Inc., BASF SE, Dr Reddy’s Laboratories Ltd., Novartis AG, Mylan N.V., Sanofi S.A., and Lonza
Request Customization Of Research Report @ https://www.coherentmarketinsights.com/insight/request-customization/738
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Contact Us:
Mr Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
Media Contact
Coherent Market Insights sales@coherentmarketinsights.com 2067016702 Mr. Shah https://www.coherentmarketinsights.com
