Active Pharmaceutical Ingredients Market To Surpass US$ 274.9 Billion By 2026 - Coherent Market Insights


Posted July 21, 2020 by SANJAYCMI

“Coherent Market Insights “ACTIVE PHARMACEUTICAL INGREDIENTS MARKET – GLOBAL TRENDS, ESTIMATES AND FORECASTS, 2020-2027″
 
Active Pharmaceutical Ingredients Market is the main ingredient which helps to cure a disease or disorder. APIs provide health benefits and are used in disease diagnosis, prevention, and treatment. APIs cannot be used in the raw form as they represent the crude form of drug, which will not meet the appropriate pharmacodynamics and pharmacokinetics parameters. Certain drugs such as combination therapies have numerous active ingredients which treat different symptoms or act in different ways. Manufacturers follow different standards to determine the strength of an API. However, the standard differs from one brand to another, as per the manfacturer’s choice.

Increasing prevalence of chronic diseases is expected to propel the active pharmaceutical ingredients market growth

Increasing prevalence of chronic diseases is expected to drivedemand for drugs, which in turn is expected to fuel the active pharmaceutical ingredients market growth in the near future. According to the World Health Organization (WHO), mortality and global health estimates of 2015, ischemic heart disease, stroke, chronic obstructive lung disease, and lower respiratory infections have been the cause for maximum number of deaths during the past decade. Moreover, diabetes caused 1.6 million (2.8%) deaths in 2015, from 1.0 million (1.8%) deaths in 2000. Deaths due to dementia doubled between 2000 and 2015, making it the 7th leading cause of global deaths in 2015.

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According to Non-Communicable Disease fact sheet 2017 by World Health Organization (WHO), non-communicable diseases account for 70% of all deaths globally. Each year, 15 million people between the age group of 30 and 69 years die from a non-communicable disease (NCD), in which over 80% of premature deaths occur in low- and average-income countries.

Cardiovascular diseases account for most of the NCD deaths with 17.7 million deaths annually, followed by cancer (8.8 million), respiratory diseases (3.9million), and diabetes (1.6 million) contributing to over 80% of all premature NCD deaths, as per World Health Organization (WHO).

Changing lifestyles and unhealthy diet patterns, which include consumption of junk food, tobacco, and alcohol are some of the factors making future generations more prone to diseases due to a weak immune system. Therefore, increasing prevalence of non-communicable diseases is expected to increase demand for drugs, which, in turn, is expected to drive growth of the active pharmaceutical ingredients market in the near future.

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Several manufacturers of active pharmaceutical ingredients are expanding their presence across the globe. The active pharmaceutical ingredients (API) manufacturers are establishing their commercial production units in Asia Pacific to remain competitive and gain advantage over other competitors. For instance, BASF is planning to build a new specialty amines plant at its existing site in Nanjing Chemical Industry Park, China. This new multi-product plant will be able to manufacture 21,000 metric tons of amines per year and it extends BASF’s amines portfolio at the specialty amines complex in Nanjing. The plant is scheduled to stream by 2019.

Moreover, in April 2018, STA Pharmaceutical, a subsidiary of WuXi AppTec, signed an investment agreement with the government of Shanghai to build a new research & development (R&D) center for APIs and intermediates located next to the company’s existing Jinshan drug-substance manufacturing site. The company will add over 30,000 square meters of laboratory space and will include 500 researchers.

Furthermore, in October 2017, a small active pharmaceutical ingredients manufacturer, Alcami, opened an office in Tokyo, Japan, as part of its effort to expand drug development and manufacturing in Japan.

Key Players
Major players operating in the global active pharmaceutical ingredients market include Teva Pharmaceutical Industries Ltd., Pfizer, Inc., BASF SE, Dr. Reddy’s Laboratories Ltd., Novartis AG, Mylan N.V., Sanofi S.A., and Lonza.

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Tags active pharmaceutical ingredients , active pharmaceutical ingredients market , active pharmaceutical ingredients market analysis
Last Updated July 21, 2020