Increase in Prevalence of Chronic Diseases to Spike the Growth of the Global Active Pharmaceutical Ingredients Market
Drug products (e.g. tablets, capsules) are generally composed of numerous components, Active Pharmaceutical Ingredient (API) being the primary ingredient. Within pharmaceutical industries, the hydration activities of crystalline APIs is specifically of high importance. This is because there is a direct effect of state of hydration on the API physical properties, which in turn has a huge effect on how the drug will ultimately do in-vivo, i.e. bioavailability, solubility, & stability and the drug processability.
The major factors that are spurring the growth of the global active pharmaceutical ingredients market are the growing prevalence of chronic diseases and increase in research & development activities for making innovative drug products. Additionally, a huge intake of antibiotics is listed due to increase in cases of bacterial infections including hospital-acquired infections. This has increased the demand for antibiotics API. Further, there is increase in geriatric population which is highly prone to infectious diseases as well as other diseases including diabetes and CVD. This rolls the growing demand for effective drug products that leads to a surge in demand for API thereby boosting the market growth. Moreover, growing focus on the development of treatment for rare diseases, growing preferences for generic drugs, and the current Covid-19 pandemic situation are some of the factors that are propelling the growth of the global market. Furthermore, increase in the development of antibody-drug conjugates and vaccines may have various opportunities for the growth of the global market during the forecast period.
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The global active pharmaceutical ingredients market is divided into type, synthesis type, business mode, application, and region. Based on the type, the global market is classified as innovative APIs and generic APIs. The synthesis type segment consists of biotech and synthetic. Merchant API and Captive API are the business mode of the global market. The application segment is bifurcated as cardiology, orthopedic, neurology, ophthalmology, oncology, pulmonology, and other applications.
Asia Pacific is expected to rule the global active pharmaceutical ingredients market over the forecast period. China is expected to hold the largest share in this region owing to the dependence of other regions on China for APIs, rapid productivity growth, and large-scale capital investments. North America is anticipated to hold second position in the market and this is due to growing demand for drug products with rise in prevalence of chronic diseases and favorable support from government for clinical trials.
Cipla, Inc., Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, AbbVie, Inc., Merck & Co., Inc., Dr. Reddy’s Laboratories Ltd., Sanofi, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma, Viatris Inc., Albemarle Corporation, and Teva Pharmaceutical Industries Ltd. are some of the key players operating in the global active pharmaceutical ingredients market.
In February 2020, Sanofi, a French pharmaceutical giant announced plans to create a standalone European company that will produce and market active pharmaceutical ingredients (API).
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