The component of a drug that produces the desired effects is known as the active pharmaceutical ingredient (API). Combination therapies, for example, in long term treatments have various active substances that cure different symptoms or act in different ways. API is the potent component in drug formulation and often used with additives or excipients to improve therapeutic efficacy of a medicine. Many pharmaceutial companies develop their API by own or by outsourcing operations. Some common examples of API are, diclofenac, propanolol, methotraxate etc.
MARKET SCOPE
The "Global Active Pharmaceutical Ingredient (API) Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the active pharmaceutical ingredient (API) market with detailed market segmentation by type of synthesis and therapeutic application. The report provides key statistics on the market status of the leading active pharmaceutical ingredient (API) market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type of synthesis the market is bifurcated as, biotech and synthetic.
- Based on therapeutic application the market is segmented as, cardiology, oncology, CNS and neurology, orthopedic, endocrinology, pulmonology, gastroenterology, nephrology, ophthalmology and others.
MARKET DYNAMICS
Drivers:
- Significant growth in pharmaceutical & biotechnology companies.
- Growth in R&D activities across the companies to develop novel molecules and APIs.
- Increasing prevalnece of chronic diseases, idiosyncratic diseases and advancements in API production activities.
Restraints:
- Issues such as higher manufacturing costs and time consuming method of API development.
- Unfavorable DPCO guidelines are also expected to restrain market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Active pharmaceutical ingredient (API) market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Active pharmaceutical ingredient (API) market in these regions.
IMPACT OF COVID-19 ON ACTIVE PHARMACEUTICAL INGREDIENT (API) MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. But some of the API molecules such as, remdesivir, favipiravir, and other such API have shown promising outcomes against covid-19 infection which has impacted positively on API market growth however, COVID-19 has disrupted all the business and economic activities across the globe which is expected to have some impact on active pharmaceutical ingredient (API) market. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the Active pharmaceutical ingredient (API) market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Active pharmaceutical ingredient (API) market are anticipated to lucrative growth opportunities in the future with the rising demand for Active pharmaceutical ingredient (API) in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Active pharmaceutical ingredient (API) market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Teva Pharmaceutical Industries Ltd.
- AbbVie Inc.
- Pfizer, Inc.
- Cipla Inc.
- Merck KGaA
- Bristol Myers Squibb
- GlaxoSmithKline plc
- Mylan N.V.
- Dr. Reddy's Laboratories Ltd
- Sun Pharmaceutical Industries Ltd
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.