Kenneth Research has released a report titled “Active Pharmaceutical Ingredients (API) Market: Global Demand Analysis & Opportunity Outlook 2030” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
In one of the statistics by the World Health Organization (WHO), around 17.9 Million people in the year 2019, died from cardiovascular diseases (CVDs), while 1.5 Million deaths were caused due to diabetes in the same year. Moreover, in the year 2020, cancer accounted for around 10 Million deaths.
The statistics portray the growing prevalence of different types of chronic diseases worldwide, which is driving the need amongst the pharmaceutical drug manufacturers for advanced drug ingredients which can help them in formulating drugs that can treat these diseases. Active pharmaceutical ingredients (APIs) are an important component in modern day pharmaceutical drug manufacturing and are widely preferred by pharmaceutical drug manufacturers owing to the numerous benefits associated with these ingredients. Besides this, the surge in demand for generic and biosimilar drugs are also expected to create numerous growth opportunities for the growth of the global active pharmaceutical ingredients (API) market in the coming years.
The global active pharmaceutical ingredients (API) market is anticipated to grow with a CAGR of 6.08% over the forecast period, i.e., 2021 – 2030. The market is estimated to garner a revenue of USD 331.37 Billion by the end of 2030. Moreover, in the year 2020, the market generated a revenue of USD 185.23 Billion. The market is segmented by therapeutic application into communicable disease, oncology, diabetes, cardiovascular disease, musculoskeletal disorders, respiratory disorders, and other therapeutic applications. The cardiovascular disease segment, out of all the other segments, is anticipated to garner the largest revenue of USD 68.81 Billion by the end of 2030. Moreover, the segment generated a revenue of USD 39.50 Billion in the year 2020.
By region, the global active pharmaceutical ingredients (API) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America, out of the market in all the other regions, is anticipated to garner the largest revenue of USD 127.61 Billion by the end of 2030. Additionally, the market in the region generated a revenue of USD 71.70 Billion in the year 2020.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
However, the high cost of manufacturing of APIs is one of the major factors predicted to hinder the market growth in the coming years.
This report also provides the existing competitive scenario of some of the key players of the global active pharmaceutical ingredients (API) market, which includes company profiling of Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Sanofi-aventis Groupe, Boehringer Ingelheim International GmbH, Aurobindo Pharma, Dr. Reddy’s Laboratories Ltd., API Corporation, Bristol-Myers Squibb Company, KATSURA CHEMICAL CO., LTD., and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Active Pharmaceutical Ingredients (API) Market: Global Demand Analysis & Opportunity Outlook 2030”, analyses the overall global active pharmaceutical ingredients (API) industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global active pharmaceutical ingredients (API) market in the near future.
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