Burning issue: Global Pharmaceutical Industry Will Experience Rise in the API Manufacturing Due to Its Technological Advancements

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The global active pharmaceutical ingredients market is expected to reach USD 213.97 Billion by 2021 from USD 157.95 Billion in 2016, growing at a CAGR of 6.3% from 2016 to 2021.

(EMAILWIRE.COM, May 05, 2017 ) Browse 369 market data tables and 46 figures spread through 313 pages and in-depth TOC on “Active Pharmaceutical Ingredients/API Market”
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Major Industry Leaders:

Prominent players in the active pharmaceutical ingredients market include Pfizer, Inc. (U.S.), Novartis International AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), Bristol-Myers Squibb (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly and Company (U.S.), GlaxoSmithKline plc (U.K.), Merck & Co., Inc. (U.S.) and AbbVie Inc. (U.S.).

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Geographical Analysis:

Based on geography, the global active pharmaceutical ingredients market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to account for the largest share of the market by the end of 2016.

This large share can be attributed to various factors including increasing incidence of chronic diseases, increasing focus of the government on the growing adoption of generic drugs, rising demand for biologics and specialty drugs, and technological advances in API manufacturing.

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Industry Insights:

Market growth is driven by the increasing incidence of chronic diseases, rising prevalence of cancer, technological advancements in API manufacturing, growing importance of generics, rapidly increasing geriatric population, increase in abbreviated new drug applications (ANDA) and increasing uptake of biopharmaceuticals.

Furthermore, emerging biosimilars market, increasing scope for HPAPIs, emerging markets and emerging technologies have opened an array of opportunities for the growth of the market. However, factors such as stringent regulatory requirements and unfavorable drug price control policies across various countries may restrain the growth of this market.

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