Dublin, Oct. 17, 2022 (GLOBE NEWSWIRE) -- The "Active Pharmaceutical Ingredients (API) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Active Pharmaceutical Ingredients (API) Market to Reach $264.1 Billion by 2027
Amid the COVID-19 crisis, the global market for Active Pharmaceutical Ingredients (API) estimated at US$176.1 Billion in the year 2020, is projected to reach a revised size of US$264.1 Billion by 2027, growing at a CAGR of 6% over the period 2020-2027. Innovative, one of the segments analyzed in the report, is projected to record 5.7% CAGR and reach US$180.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Generic segment is readjusted to a revised 6.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $61 Billion, While China is Forecast to Grow at 6.2% CAGR
The Active Pharmaceutical Ingredients (API) market in the U.S. is estimated at US$61 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$42 Billion by the year 2027 trailing a CAGR of 6.2% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 5.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR.
Select Competitors (Total 266 Featured)
- AbbVie Inc.
- Aurobindo Pharma Ltd.
- BASF SE
- Boehringer Ingelheim International GmbH
- Cipla Ltd.
- Dr. Reddy's Laboratories Ltd.
- Lupin Ltd.
- Merck KGaA
- Novartis International AG
- Pfizer Inc.
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Ltd.
- Viatris Inc.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Sustained Increase in Drug R&D Spending to Drive API Market
- Increased API Sourcing Creates the need for More Scrutiny of Suppliers for Best Quality Products
- Preference for Specialized CDMO Contractors on the Rise
- Strong Rise in Pharmaceutical Sales to Drive Demand
- The AIC Approach for Faster Assessment of Viable Drug Candidates
- Drug Makers Embrace Digital Technology Amidst COVID-19 Crisis
- Demand for HPAPIs on the Rise
- AI Finds Growing Application in Drug Discovery and Development
- Microdosing Beneficial for the Formulation of High Potency Ingredients
- Growing Penetration of Generic Drugs Augments Market Prospects
- Increasing Interest in Biopharmaceuticals Supports Market Demand
- Rising Number of Biologics Approvals Augurs Well
- Growing Biosimilars Market Create Opportunities for APIs
- Growing Attention Towards Personalized Medicine Spurs Demand for Complex API
- Increasing Sales of OTC Drugs Presents an Opportunity for APIs
- Growing Prevalence of Infectious Diseases to Spur Growth
- Rising Incidence of Cancer & Need to Reduce Cancer-Related Mortality Spell Increased Demand
- Increasing Prevalence of Chronic Disorders Fuels Market Growth
- Rising Incidence of Cardiovascular Diseases Revs Up Opportunities
- Upsurge in ANDA Approvals Bodes Well
- Aging Population & Increasing Burden of Chronic Diseases Spurs Pharma Product Sales, Driving Market Growth
- Novel Technology for Continuous Manufacturing of APIs
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 266
For more information about this report visit https://www.researchandmarkets.com/r/2nzu3d
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