Global Active Pharmaceutical Ingredients (API) Industry Report 2019: The Market is Anticipated to Reach $236.7 Billion by 2024 — Cardiology Expected to Dominate by Application – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global
Active Pharmaceutical Ingredients (API) Market – Growth, Trends, and
Forecast (2019 – 2024)” report has been added to ResearchAndMarkets.com’s
offering.

The global active pharmaceutical ingredients market was valued at USD
165.74 billion in 2018 and is estimated to reach USD 236.7 billion in
2024, witnessing a CAGR of 6.1%.

Some of the key factors that are driving the market include the
increasing prevalence of infectious diseases, cardiovascular conditions,
and other chronic disorders. Apart from these diseases, genetic
disorders are significantly driving the usage of biologicals and
biosimilars, globally.

Biosimilars, in many instances, serve as low-cost options. They hold the
potential to create a more sustainable healthcare system by making room
for innovation so that more patients continue to receive the best
possible care.

The active pharmaceutical ingredients (API) market has traditionally
been dominated by drugs, such as anti-infectives and diabetes,
cardiovascular, analgesics, and pain management drugs. However, as per
the R&D trends, the demand is shifting toward the development of complex
APIs used in novel formulations, targetting niche therapeutic areas.

A large number of drugs are in the pipeline to develop treatments for
cancer, an autoimmune disorder, and metabolic diseases. Owing to the
rising prevalence of cancer, several manufacturers are venturing into
the development of highly potent APIs (HPAPI) and specialty APIs, in
order to cater to the rising demand for these products.

Key Market Trends

Cardiology is Expected to Hold the Largest Market Share in the
Application Category

The API market, by application, is dominated by the cardiology segment,
due to the vast population using various CVD drugs. This segment is
projected to witness a CAGR of 6.05% during the forecast period.

Coronary heart disease (CHD) is the most common type of cardiac disease,
with a death toll of over 370,000 people, annually, in the United States
alone. According to the American Heart Association (AHA), cardiovascular
disease accounts for 17.3 million deaths per year. The Centre for
Disease Control and Prevention states that about 610,000 people die of
heart diseases in the United States every year, i.e., one in every four
deaths can be attributed to cardiovascular diseases (CVDs).

Cholesterol reducers and blood pressure lowering drugs are the key drug
classes under CVS. Cholesterol reducers, especially Statins, are driving
the CVS segment, and have emerged as the most important family of drugs
among the cholesterol and triglycerides reducers. Healthcare spending
for hypertension was USD 23 to 26 billion in 2017, in the developed
markets alone. Another USD 14 to 17 billion was spent in 2017 in the
pharmerging markets. The high expenditure on the cardiovascular category
highlights the rising demand for APIs in the same.

North America Dominates the Market and is Expected to Maintain Its
dominance Through the Forecast Period

North America currently dominates the market for active pharmaceutical
ingredients and is expected to continue its stronghold for a few more
years. This region is expected to increase its market share in the
future, owing to the increasing incidences of disease and rising aging
population.

The United States holds the majority of the market in the North American
region. However, the majority of its API requirements are met through
imports from the Asian Markets. The trade statistics suggest that nearly
75% to 80% of the APIs imported to the United States are from China and
India, as these countries have well-established manufacturing facilities
and an abundant talent pool serving the pharmaceutical sector.

The recent political and trade policies implemented by the US government
to increase import duties and taxes are expected to drive operational
costs and increase the pricing pressure on the manufacturers. The FDA
has also increased the application fees for new drug approvals and has
increased the number of periodic inspections conducted on various
off-share contract manufacturing facilities to ensure the supply of
high-quality products to the US market.

Competitive Landscape

The active pharmaceutical ingredients market is highly competitive, and
consists of several major players; thus, indicating a fragmented market
scenario. The API market has several manufacturers from China and India
holding a dominant market position, due to their large manufacturing
footprints. In Europe, Italy, Germany, and the United Kingdom are the
key regions for API trade, due to the presence of a well-developed
pharmaceutical and life sciences industry.

A majority of the APIs produced by reputed MNCs are used for captive
production. However, few players have emerged as contract manufacturers
with a diversified client base. Further, with increasing technological
advancements and product innovation, mid-size and small-scale companies
are increasing their market presence, by introducing new ingredients
with competitive prices.

Companies, like Teva, Pfizer, Aurobindo, Sun Pharmaceuticals, Novartis,
Mylan, and Boehringer Ingelheim, hold substantial market shares in the
active pharmaceutical ingredients market.

Key Topics Covered

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Increasing Prevalence of Infectious, Genetic, Cardiovascular and
Other Chronic Disorders

4.2.2 Increasing Adoption of Biologicals and Biosimilars

4.2.3 Rising Prevalence of Cancer and Increasing Sophistication in
Oncology Drug Research

4.3 Market Restraints

4.3.1 Drug Price Control Policies Across Various Countries

4.3.2 High Competition Between the API Manufacturers

4.3.3 Stringent Regulations

4.4 Industry Attractiveness Porter’s Five Forces Analysis

5 MARKET SEGMENTATION

5.1 By Business Mode

5.1.1 Captive API

5.1.2 Merchant API

5.2 By Synthesis Type

5.2.1 Synthetic

5.2.2 Biotech

5.3 By Type

5.3.1 Generic

5.3.2 Branded

5.4 By Application

5.4.1 Cardiology

5.4.2 Pulmonology

5.4.3 Oncology

5.4.4 Ophthalmology

5.4.5 Neurology

5.4.6 Orthopedic

5.4.7 Other Applications

5.5 Geography

5.5.1 North America

5.5.2 Europe

5.5.3 Asia-Pacific

5.5.4 Middle East & Africa

5.5.5 South America

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Aurobindo Pharma

6.1.2 Teva Pharmaceutical Industries Ltd.

6.1.3 Pfizer Inc.

6.1.4 Novartis AG

6.1.5 BASF SE

6.1.6 Boehringer Ingelheim GmbH

6.1.7 Dr. Reddy’s Laboratories Ltd.

6.1.8 Lupin Ltd.

6.1.9 Mylan N.V.

6.1.10 Sun Pharmaceutical Industries Ltd.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/research/l2z5vj/global_active?w=4

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