Active Pharmaceutical Ingredients (API) Market Opportunity will Rise to US$ 257,455.6 Mn by 2026

High prevalence and incidence rates of cancers, dental carries, cardiovascular diseases, back pain, and periodontal diseases drive the active pharmaceutical ingredients market. Demand for low-cost medicines and increase in the number of ANDA filings are fuelling the global active pharmaceutical ingredients market.

In terms of therapeutic, the global active pharmaceutical ingredients market has been split into anti-infective drugs, metabolic disorders drugs, cardiovascular drugs, oncology drugs, central nervous system drugs, respiratory diseases drugs, and others. Increase in cancer prevalence across the global is anticipated to drive the oncology drugs segment during the forecast period. In terms of region, the global active pharmaceutical ingredients market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market and is projected to lose market share by the end of 2026. The market in North America is primarily driven by a rapid increase in the incidence of cancer and diabetes and a rise in the geriatric population in the U.S.. Moreover, an increase in the demand for innovative medicine in the U.S. is projected to fuel the active pharmaceutical ingredients market in the country during the forecast period. The market in Asia Pacific is projected to expand at a rapid pace during the forecast period. In Asia Pacific, Japan dominated the active pharmaceutical ingredients market, while the market in China is estimated to expand at an exponential CAGR during the forecast period.

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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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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.

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