DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Active Pharmaceutical Ingredients/API Market by Type (Innovative, Generic), Manufacturer (Captive, Merchant), Synthesis (Synthetic, Biotech), Product (mAb, Hormone) Drug (OTC, Rx), Therapy (Diabetes, Oncology, CNS, CVD) - Global Forecast to 2021" report to their offering.
The Active Pharmaceutical Ingredients Market in Terms of Value is Expected to Reach USD 213.97 Billion by 2021 from USD 157.95 Billion in 2016, Growing at a CAGR of 6.3% from 2016 to 2021
Major factors contributing to the growth of the active pharmaceutical ingredients market include increasing incidence of chronic diseases, rising prevalence of cancer, technological advancements in API manufacturing, growing importance of generics, rapidly increasing geriatric population, increase in abbreviated new drug applications (ANDA) and increasing uptake of biopharmaceuticals. Government initiatives to encourage adoption of generics also provide an impetus for the growth of this market.
For instance, in 2008, the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India, launched the Jan Aushadhi Scheme (Public Medicine Scheme) for providing quality medicines to the masses at affordable prices. Under this initiative, the government set up Jan Aushadhi stores to provide generic drugs to patients.
Similarly, The European Union's decentralized procedure (DCP) for drug approval is an effective system for cross-border collaboration on the authorization of medicines. This is being used as a model for a number of new global initiatives in the harmonization of pharmaceutical regulatory standards. The implementation of such standards in turn is expected to drive the adoption of generic drugs.
Emerging biosimilars market, increasing scope for HPAPIs, emerging markets and emerging technologies have opened an array of opportunities for the active pharmaceutical ingredients market. However, factors such as a stringent regulatory requirements and unfavorable drug price control policies across various countries may restrain the growth of this market.
- Increasing Incidence of Chronic Diseases
- Rising Prevalence of Cancer
- Technological Advancements in Api Manufacturing
- Growing Importance of Generics
- Rapidly Increasing Geriatric Population
- Increase in Abbreviated New Drug Applications (ANDA)
- Increasing Uptake of Biopharmaceuticals
- Stringent Regulatory Requirements
- Unfavorable Drug Price Control Policies Across Various Countries
- Emerging Biosimilars Market
- Increasing Scope for High-Potency Active Pharmaceutical Ingredients
- Emerging Markets
- Emerging Technologies
- Product Differentiation
- High Manufacturing Costs
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Active Pharmaceutical Ingredients Market, by Type
7 Active Pharmaceutical Ingredients Market, by Type of Manufacturer
8 Active Pharmaceutical Ingredients Market, by Type of Synthesis
9 Active Pharmaceutical Ingredients Market, by Type of Drug
10 Active Pharmaceutical Ingredients Market, by Therapeutic Application
11 Active Pharmaceutical Ingredients Market, by Region
12 Competitive Landscape
13 Company Profiles
- Abbvie Inc.
- Boehringer Ingelheim
- Bristol-Myers Squibb
- Eli Lilly and Company
- Glaxosmithkline Plc
- Merck & Co., Inc.
- Novartis International AG
- Pfizer, Inc.
- Teva Pharmaceutical Industries Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/7zb7jq/active