Portland, OR -- (SBWIRE) -- 07/21/2017 -- Active Pharmaceutical Ingredients are chemically and biologically active components of drugs with direct effect in cure, mitigation, treatment and prevention of diseases. The global API market has witnessed tremendous growth over the last few decades owing to the increased use of drugs and biologics in the treatment of diseases. The increasing adoption of quality standards in API manufacturing such as Good Manufacturing Practices (GMP), current GMP (cGMP), and the global adoption of International Conference on Harmonisation (ICH) guidelines, have helped improve the safety standards. On the other hand, the API industry is facing the challenges such as, shortening the development time, reducing the cost of development, improving the process design and meeting the quality standard without compromising on the profitability.
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The global Active Pharmaceutical Ingredients market is likely to be impacted by a large number of innovative drugs going off patent in the recent years. There is an impending need for technological innovations to maintain the profitability in high volume and a low value environment. The major factors driving the market growth are, rising incidences of oncology, cardiovascular, diabetes and lifestyle diseases, rising number of hospitals and diagnostic centers, rising geriatric population in developing countries, increasing healthcare expenditure, increasing disease awareness and education. However, a lack of skilled workforce and limited accessibility of drugs in the developing countries are likely to restrict the market growth.
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The Active Pharmaceutical Ingredients (API) Market is segmented on the basis of API type, drug type, manufacturers, therapy area and geography. On the basis of type of API, the market is segmented into, Chemical API and Biological API. The market is further segmented on the basis of type of drugs into; innovative, generic and Over-the-counter (OTC) drugs. According to market players, the market is segmented into Captive (In-house) manufacturer and Merchant (contract) manufacturer. The market is also segmented on the basis of therapy area into; Oncology Drugs, Non-steroidal Anti-inflammatory Drugs, Cardiovascular Drugs, Anti-diabetic Drugs, Neurology Drugs, Musculoskeletal drugs and others. Geographically, the market is segmented across four regions namely North America, Europe, Asia Pacific and LAMEA. Inorganic growth through merger and acquisition are the key strategies adopted by top industry players. For instance, Ranbaxy recently acquired Sun Pharmaceutical, a move that helped the company emerge as Indias topmost drug manufacturer. Similarly, in July 2014, Hospira completed the acquisition of the API manufacturing facility and associated R&D facility of Orchid Chemicals & Pharmaceuticals Ltd. The companies profiled in this report include, Novartis AG, Sun Pharmaceutical Industries Ltd., Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Dr. Reddy's Laboratories, Actavis plc, Lonza Group AG, Hospira Inc. and BASF SE.