(EMAILWIRE.COM, July 06, 2018 ) Browse 369 market data tables and 46 figures spread through 312 pages and in-depth TOC on “Active Pharmaceutical Ingredients/API Market”
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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.

Major factors contributing to the growth of the active pharmaceutical ingredients market include 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. Government initiatives to encourage adoption of generics also provide an impetus for the growth of this market.

For instance, in 2008, the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India, launched the Jan Aushadhi Scheme (Public Medicine Scheme) for providing quality medicines to the masses at affordable prices. Under this initiative, the government set up Jan Aushadhi stores to provide generic drugs to patients.

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Similarly, The European Union’s decentralized procedure (DCP) for drug approval is an effective system for cross-border collaboration on the authorization of medicines. This is being used as a model for a number of new global initiatives in the harmonization of pharmaceutical regulatory standards. The implementation of such standards in turn is expected to drive the adoption of generic drugs.

Emerging biosimilars market, increasing scope for HPAPIs, emerging markets and emerging technologies have opened an array of opportunities for the active pharmaceutical ingredients market. However, factors such as a stringent regulatory requirements and unfavorable drug price control policies across various countries may restrain the growth of this market.
Based on type, the market is segmented into innovative and generic APIs.

On the basis of type of manufacture, the APIs market is categorized into two segments, captive manufacturer and merchant manufacturer. On the basis of type of synthesis, the APIs market is segmented into synthetic APIs and biotech APIs. On the basis of type of drug, the APIs market is segmented into prescription and over-the-counter APIs.

On the basis of therapeutic application, the APIs market is further segmented into oncology, cardiovascular diseases, diabetes, endocrinology, central nervous system and neurological diseases and other therapeutic applications.

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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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