The “Global Active Pharmaceutical Ingredient (API) Market – Analysis By Drug Type (Generic, Innovative), Synthesis (Synthetic, Biotech), By Application, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)” report has been added to ResearchAndMarkets.com’s offering.
According to this report, the Global Active Pharmaceutical Ingredients Market is projected to display a robust growth represented by a CAGR of 6.96% during 2021-2026.
Companies Profiled
- Pfizer Inc.,
- GlaxoSmithKline
- AbbVie Inc.
- Novartis AG
- Eli Lilly and Company
- Merck KGaA
- Teva Pharmaceutical Industries Ltd.
- Sanofi
- Bristol-Myers Squibb
- Boehringer Ingelheim
The global Active Pharmaceutical Ingredients Market was valued at USD 179.6 Billion in the year 2020. Growth opportunities for the Active Pharmaceutical Ingredient market are attributed to the growth of the geriatric population, rising technical advancements, increasing API manufacturing facilities in the world, and an increasing number of research and development activities by some of the key market players in the global platform.
Growing awareness, as well as investments in the development of new drugs in the market, is pushing the number of clinical trials in the world which is driving up the Active Pharmaceutical Ingredient market. With the rising prevalence of respiratory diseases due to the outbreak of COVID-19, it is expected that there will be more demand for new drugs which is likely to push the demand for API and consequently affect the Global Active Pharmaceutical Market in the world.
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The biopharma companies are opting for mergers and acquisitions to gain access to new technologies, expand their market area and increase their capital for clinical trials and investments. The API market has been witnessing impressive growth since the past few years. This growth trend is projected to continue due to the increase in demand from Asia Pacific region in the future. This is mainly driven by China, India and Japan which consist of huge population and thereby huge incidence of infectious diseases which require medicines for treatment.
Source: Yahoo
