Home / Press Release / Global Active Pharmaceutical Ingredient Market Expected To Reach US$ 273.7 Mn By 2026

Global Active Pharmaceutical Ingredient Market Expected To Reach US$ 273.7 Mn By 2026

The latest market report published by Credence Research, Inc. “Active Pharmaceutical Ingredient Market: Growth, Future Prospects, and Competitive Analysis, 2018 - 2026” the active pharmaceutical ingredient market was valued at US$ 152.6 Bn in 2017 and expected to reach US$ 273.5 Mn by 2026 at a CAGR of 6.7 % during the forecast period from 2018 to 2026.

Browse the full report : https://www.credenceresearch.com/report/active-pharmaceutical-ingredient-market

Market Insights

The global active pharmaceutical ingredient (API) market shows fruitful growth during the forecast period from 2018 to 2026. The API is the active part of any drug that delivers its reaction. Many times a drug may contain few APIs and the reaction to a specific medication will rely upon the prescription of the dosage pattern, which changes from individual to individual. For instance, combination therapeutic treatments have various dynamic active ingredients to treat different side effects. TEVA Pharmaceuticals is one of the leading manufacturers of APIs in the global market having a vast portfolio of API products of around 300 APIs. Dr. Reddy's is also a leading API maker using more than 60 APIs currently.

North America to contribute maximum revenue share in the global active pharmaceutical ingredient market attributed to rising chronic diseases, higher adoption of prescribed drugs, demand for specialty drugs & biologics, increasing awareness, and rise in R&D for new drug formulations and development. In the current scenario, manufacturers present in the U.S. and Europe region are expanding their manufacturing capacity for APIs in the developing nations such as in India and China to cut expenses. This has made noteworthy changes in how these drugs are regulated, with more specific guidelines and regulations. For example, presently AstraZeneca Plc produce only 15% of their APIs in the U.S. However, there are plans to end that small ratio and outsource all the manufacturing assembly in the Asia Pacific and Latin America market. Increase in healthcare spending is a global phenomenon, and this directly benefited the generics API market in recent years in the developing nations due to high demand and ease of access. However, the cost of enhancing process outline, higher cost of specialty API drugs, and stringent approvals regulations may act as a restraining factor to the overall development of the API market. Improvement of new inventive API's and inorganic development through mergers and partnerships with smaller organizations additionally support the API market in the developing nations. Adoption of branded generic drugs & medications is growing exponentially in developing economies, for example, in India and China. In addition, rising utilization of specialty drugs expected to increase the pharmaceutical spending around the world.

Increase in demand for advanced therapeutics for treatment of alarming diseases, rising prevalence for chronic diseases and lifestyle diseases globally along with increasing purchasing power, beneficiary schemes for reimbursement are various factors fueling the demand for active pharmaceutical ingredient market in near future.

Key Market Movements:

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