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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