Market Research Report
Active Pharmaceutical Ingredient/ API Market by Type (Innovative, Generic), Manufacturer (Captive, Merchant), Synthesis (Synthetic, Biotech), Product (mAb, Hormone, Biosimilar) Drug (OTC, Rx), Therapy, and Region - Global Forecast to 2024
|Published by||MarketsandMarkets||Product code||225648|
|Published||Content info||255 Pages
Delivery time: 1-2 business days
|Active Pharmaceutical Ingredient/ API Market by Type (Innovative, Generic), Manufacturer (Captive, Merchant), Synthesis (Synthetic, Biotech), Product (mAb, Hormone, Biosimilar) Drug (OTC, Rx), Therapy, and Region - Global Forecast to 2024|
|Published: January 7, 2019||Content info: 255 Pages||
"Increasing incidence of chronic diseases and technological advancements in API manufacturing are expected to drive the overall growth of the global APIs market."
The global APIs market is estimated to reach USD 245.2 billion by 2024 from USD 182.2 billion in 2019, at a CAGR of 6.1% during the forecast period. The increasing incidence of chronic diseases, growing importance of generics, and the increasing uptake of biopharmaceuticals are some of the major factors driving the growth of the global APIs market. On the other hand, the unfavorable drug price control policies across various countries and the increasing penetration of counterfeit drugs are expected to restrain the growth of this market in the coming years.
On the basis of type of synthesis, the APIs market is categorized into synthetic APIs and biotech APIs. The synthetic APIs segment is estimated to account for the largest share in 2019. However, the biotech APIs segment is expected to grow at a higher rate over the forecast period. Factors such as growing demand of biotech drugs due to their specificity in action, advancements in biotechnology, increase in demand for monoclonal antibodies, and their similarity with the natural biological compounds found in the human body influence the growth of this segment.
Based on product, the biotech APIs market is segmented into monoclonal antibodies, hormones & growth factors, cytokines, fusion proteins, therapeutic enzymes, recombinant vaccines, and blood factors. In 2019, the monoclonal antibodies segment is estimated to account for the largest share of the biotech APIs market. Factors such as the increasing incidence of cancer, increasing investments in R&D, technological advances in genetic sequencing and target gene selection, and reduced side effects as compared to chemotherapy are responsible for driving this market.
In 2019, North America is expected to dominate the market, followed by Europe. The major factors driving the overall growth of the APIs market in this region include the growing incidence of preventable chronic diseases, increasing government focus on generic drugs, rising demand for biologics and specialty drugs, and technological advancements in the manufacturing processes of APIs. This market segment is expected to grow at a modest rate due to a combination of economic and healthcare severity measures and the introduction of low-cost, generic versions of branded drugs.
The primary interviews conducted for this report can be categorized as follows:
List of Companies Profiled in the Report:
This report provides a picture of the global APIs market. It aims at estimating the size and future growth potential of the market across different segments, such as type, type of manufacturer, type of synthesis, type of drug, therapeutic application, and region. Furthermore, the report also includes an in-depth competitive analysis of key market players, along with their company profiles, recent developments, and key market strategies.
The report will help market leaders/new entrants by providing them the closest approximations of the revenue numbers for the overall APIs market and its subsegments. Also, this report will help stakeholders to better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. It will also enable stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
(Business overview, Products offered, Recent Developments, MNM view)*
Details on Business overview, Products offered, Recent Developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.