Diseases and
epidemics are nature’s way to control population. With the
ever-increasing number of deaths being reported due to various
chronic diseases as well as newly diagnosed cases, the global active
pharmaceutical ingredients (API) market has a huge demand to meet.
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Global API Market to
be Valued at US$185.9 Billion by 2020
In 2013, the global
API market was valued at US$119.7 billion. It is expected to grow at
a CAGR of 6.5% from 2014 to 2020 and reach a valuation of US$185.9
billion by 2020. On the basis of therapeutic area, the API market is
segmented into non-steroidal anti-inflammatory drugs (NSAIDS),
oncology drugs, anti-diabetic drugs, cardiovascular drugs, central
nervous system drugs, musculoskeletal drugs, and others.
Oncology Segment
Will Be the Fastest Growing Drug Segment
Due to the prevalent
sedentary lifestyle and growing aging population, cardiovascular
diseases and diseases related to the central nervous system are
rising. In 2013, the market revenue share for cardiovascular drugs
was the highest. As per the data provided by the World Health
Organization, in 2012, cancer alone led to 8.2 million deaths
worldwide along with 14 million newly diagnosed cases. In response to
this, the oncology drug segment will have the fastest growth in the
API market during the period from 2014 to 2020. High potency active
pharmaceutical ingredients (HPAPIs) are a component of most drugs in
the oncology drug segment. So, the growth of the HPAPI market would
be rapid to keep up with the growth of oncology drug segment.
Asia Pacific will
Account for the Highest Growth from 2014 to 2020
In 2013, North
America accounted for the majority share (35%) in the global API
market. The API market in this region is expected to grow further.
FDA approvals for the production of innovative drugs and growing
awareness about the intake of generic medicines have led to the
growth of the API market in North America.
The Asia Pacific
region is expected to achieve the highest growth in the global API
market in the period from 2014 to 2020. The API market has a huge
demand from the Asia Pacific region because of the population
demographics in this geography. In terms of production, the global
API market has shifted to Asia Pacific because of the availability of
cheap labor, tax benefits provided by the governments for
manufacturing, and less regulations on the markets.
China and India are
the frontrunners in API production. API manufacturing companies from
North America and Europe have invested substantially in these two
countries. In North America, stringent pharmaceutical regulations,
such as the U.S. Drug Quality and Security Act, have to be met with.
This has caused a slight decrease in the growth of the API market in
this region.
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Costlier Production
of Biological Drugs Hampers Segment
Compared to
synthetic APIs, biological drugs are costlier because they are
difficult to replicate and have difficult manufacturing requirements.
Enhanced technological support has resulted in the production of
biosimilars, which are not the exact replication of innovator drugs,
but are efficient and safe. This has led to a big opportunity for
biopharmaceutical companies like Novartis in the API market.
However, production
of biosimilars requires approvals from the respective countries. The
European Union has set the trend by approving biosimilars and the WHO
has followed the approval guidelines similar to the European Union.
As a first, the U.S. has approved the biosimilar Filgrastim (2015),
which shows its interest in expanding its biological API market.
Key Players in
Active Pharmaceutical Ingredients Market
The key players
competing in the global API market include Cambrex Corporation,
Boehringer Ingelheim Group, Pfizer Inc., Dr. Reddy’s Laboratories
Ltd., BASF SE, Hospira Inc., Lonza Group, Mylan, Inc., Novartis AG,
Actavis plc, Teva Pharmaceutical Industries Ltd., and Wuxi Apptec.
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