The study involved four major activities to estimate the current size of the global active pharmaceutical ingredient market. Exhaustive secondary research was done to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.
Major Objectives behind This Study:
# To define, describe, and forecast the global APIs market on the basis of type, type of manufacturer, type of synthesis, type of drug, therapeutic application, and region
# To provide detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
# To strategically analyze micro markets with respect to the individual growth trends, future prospects, and contributions to the overall market
# To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
# To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia, and the Rest of the World (RoW)
# To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
# To track and analyze competitive developments such as partnerships, agreements, collaborations, joint ventures, alliances, mergers & acquisitions, approvals, expansions, and R&D activities in the global APIs market.
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Recent Developments:
# In January 2018, Pfizer entered into a collaboration with Sangamo Therapeutics, Inc. (US) for the development of a potential gene therapy to treat amyotrophic lateral sclerosis (ALS).
# In May 2018, Novartis acquired AveXis, a clinical-stage gene therapy company, to develop a gene-based treatment for spinal muscular atrophy.
# In January 2018, Sanofi acquired Ablynx, a biopharmaceutical company to strengthen its platform for growth in rare blood disorders.
# In January 2018, Sanofi and Alnylam Pharmaceuticals, Inc. (US) announced a strategic restructuring of their RNAi therapeutics alliance to streamline and optimize the development and commercialization of products prescribed for the treatment of rare genetic diseases.
Key Questions Addressed by the Report:
# Where will all these developments take the industry in the mid to long term?
# What types of annual and multi-year partnerships are API companies exploring?
# Which are the key players in the market and how intense is the competition?
# Which are the recent contracts and agreements key players have signed?
# What are the recent trends affecting the API manufacturers?
Factors Influencing Global Growth:-
The increasing incidence of chronic diseases, growing importance of generics, and the increasing uptake of biopharmaceuticals are some of the major factors driving the growth of the global APIs market.
Restraint:
# Unfavorable Drug Price Control Policies across Various Countries
# Increasing Penetration of Counterfeit Drugs
Opportunities:
# Emerging Biosimilars Market
# Highly Potent Active Pharmaceutical Ingredients
# Emerging Markets
# Emerging Technologies
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Monetary Growth Expectations, Globally:
According to the Research Study conducted by MarketsandMarkets™: The global APIs market is estimated to reach USD 245.2 billion by 2024 from USD 182.2 billion in 2019, at a CAGR of 6.1% during the forecast period.
Geographical Growth Scenario:
In 2019, North America is expected to dominate the market, followed by Europe. The major factors driving the overall growth of the APIs market in this region include the growing incidence of preventable chronic diseases, increasing government focus on generic drugs, rising demand for biologics and specialty drugs, and technological advancements in the manufacturing processes of APIs. This market segment is expected to grow at a modest rate due to a combination of economic and healthcare severity measures and the introduction of low-cost, generic versions of branded drugs.
Leading Market Players:
# Pfizer, Inc. (US)
# Novartis AG (Switzerland)
# Sanofi (France)
# Boehringer Ingelheim (Germany)
# Bristol-Myers Squibb (US)
# Teva Pharmaceutical Industries Ltd. (Israel) and many more…
These players have adopted various growth strategies, such as partnerships, acquisitions, agreements, and collaborations as well as new product launches, to further expand their presence in the global market.
Acquisitions and collaborations have been the key growth strategies adopted by players from 2016 to 2018.
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