Global Active Pharmaceutical Ingredients Market

Global Active Pharmaceutical Ingredients Market Size, Share, Growth Analysis, By Application(Captive AP and Merchant APIs), By Business mode(Synthetic and Biotech) - Industry Forecast 2024-2031

Report ID: SQMIG35I2125 | Region: Global | Published Date: February, 2024
Pages: 248 | Tables: 59 | Figures: 75

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Active Pharmaceutical Ingredients Market size was valued at USD 210.01 billion in 2019 and is poised to grow from USD 222.4 billion in 2023 to USD 351.81 billion by 2031, growing at a CAGR of 5.9% in the forecast period (2024-2031).

Competition in the global Active Pharmaceutical Ingredients market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of innovations compatible with Active Pharmaceutical Ingredients will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years. 'Teva Pharmaceutical Industries Ltd.', 'Pfizer Inc.', 'Novartis International AG', 'Sanofi S.A.', 'Merck & Co., Inc.', 'Boehringer Ingelheim GmbH', 'GlaxoSmithKline plc', 'AstraZeneca plc', 'Bristol-Myers Squibb Company', 'AbbVie Inc.', 'Eli Lilly and Company', 'BASF SE', 'Lonza Group Ltd.', 'Cambrex Corporation', 'Dr. Reddy's Laboratories Ltd.', 'Sun Pharmaceutical Industries Ltd.', 'Lupin Limited', 'Cadila Healthcare Ltd.', 'Cipla Ltd.', 'Aurobindo Pharma Limited'

Precision medicine helps in predicting prevention and treatment strategies for particular disease in a particular group of people that sought to be more accurate. Due to accuracy, various healthcare systems, clinicians, pharmaceutical companies, patients and govts are recognising precision medicine as one of the finest growing opportunities in future.Therefore, the growth in precision medicine will help active pharmaceutical ingredient market to grow.

Highly potent active pharmaceutical ingredients are the major form of API which includes several advantages such as requirements for a lower therapeutic dose, capacity to bind a specific receptor and high efficiency.The pharmaceutical companies small molecules to Offer new medicines that indicate a shift of HPAPIs.

Globally, North America is estimated to hold the highest global Active Pharmaceutical Ingredients market share in 2021. Unhealthy lifestyle induced with diseases. Rising incidence of cancer stimulates R&D which is boosting the API market in the North America region.Above all, Asia Pacific is expected to grow fastest during the forecast period. All the countries across the globe depend upon the production of APIs at lower cost which is produced in Asian countries like India and China. Owing to the advantage of lower cost increasing healthcare expenditure, the region is anticipated to grow with highest CAGR in future.

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