Albany, NY -- (SBWire) -- 01/15/2019 --Active Pharmaceutical Ingredients (API) Market – Snapshot

The global active pharmaceutical ingredients (API) market is expanding due to an increase in the incidence of acute and chronic disease such as cancer across the globe. The global active pharmaceutical ingredients (API) market was valued at US$ 162,000.0 Mn in 2017. It is projected to reach a value of US$ 257,455.6 by 2026 and expand at a CAGR of 5.4% from 2018 to 2026. The global market is expanding at a relatively higher growth rate, owing to an increase in the incidence of cancer and orthopedic diseases.

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Active pharmaceutical ingredients (APIs) of a good quality are essential for the manufacture of effective and safe medicines. However, not all pharmaceutical companies possess in-house API manufacturing capabilities, and a single company cannot produce all the APIs required for their formulation offerings.

High prevalence and incidence rates of cancers, dental carries, cardiovascular diseases, back pain, and periodontal diseases drive the active pharmaceutical ingredients market. Demand for low-cost medicines and increase in the number of ANDA filings are fuelling the global active pharmaceutical ingredients market.

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The global active pharmaceutical ingredients market has been segmented based on manufacturer, APIs, drug, therapeutic, and region. In terms of manufacturer, the global market has been classified into in-house API manufacturing and API contract manufacturing. The in-house API manufacturing segment accounted for a key share of the global market, in terms of revenue, in 2017. The API contract manufacturing segment is estimated to expand at a signficant growth rate during the forecast period. The segment is estimated to gain significant market share by the end of 2026.

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