Active Pharmaceutical Ingredients (API) Market to Surge at a CAGR of 5.4% by 2026

Active Pharmaceutical Ingredients (API) Market – Snapshot

The global active pharmaceutical ingredients (API) market is expanding due to an increase in the incidence of acute and chronic disease such as cancer across the globe. The global active pharmaceutical ingredients (API) market was valued at US$ 162,000.0 Mn in 2017. It is projected to reach a value of US$ 257,455.6 by 2026 and expand at a CAGR of 5.4% from 2018 to 2026. The global market is expanding at a relatively higher growth rate, owing to an increase in the incidence of cancer and orthopedic diseases.

Active pharmaceutical ingredients (APIs) of a good quality are essential for the manufacture of effective and safe medicines. However, not all pharmaceutical companies possess in-house API manufacturing capabilities, and a single company cannot produce all the APIs required for their formulation offerings.

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Active Pharmaceutical Ingredients (API) Market - Overview

Biotech/biological APIs have witnessed constant technological evolution, owing to a shift from synthetic chemical APIs to biotech/biological APIs in the global active pharmaceutical ingredients market.

Rise in demand for new drugs at a low cost and entry of domestic and global companies in the APIs market have led to innovative product offerings with new and advanced techniques. Any substance or combination of substances used in a finished pharmaceutical product (FPP) is known as active pharmaceutical ingredients (API). A finished dose of any drug is a combination of active pharmaceutical ingredients and excipients. An excipient is an inactive substance in a drug dose.

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High-potency active pharmaceutical ingredients (HPAPIs) and antibody-drug conjugates are recent innovations in the market and require a special manufacturing set up. Most of these drugs are used in oncology. A large number of patents for small molecule APIs are expected to expire in the next few years, with many drugs losing patent protection in 2018. This is estimates to unlock a significant market opportunity for generic drug manufacturers, resulting in augmented demand for APIs. Large pharmaceutical companies are scaling down their small molecule manufacturing facilities to focus on biologic drugs, thereby presenting greater opportunities for contract manufacturing companies, particularly in Asia.

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