Pharmacology is branch of biology, deals with study of drug action on biological system. Pharmaceutical drugs are chemical and natural substances intended to use for treatment and prevention of diseases. Active pharmaceutical ingredient is the biological active component of pharmaceutical drugs. API is used in manufacturing of finished pharmaceutical product (FPP), designed to provide therapeutic activity or to have direct effect in diagnosis and treatment of diseases. Any pharmaceutical drug is combination of two elements. The first one is active pharmaceutical ingredient, which is the central element while the second one is referred as excipient and this is the inside substance of any drug, helps to deliver mediation to system. API is chemically active component. Thus, depending drug dosage, the reactions and results differ.
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According to Zion Market Research, active pharmaceutical ingredient market was valued at USD 148.22 billion in 2015 and it is expected to generate USD 213.84 billion by 2021 at a CAGR of 6.3% between 2016 and 2021. The market is majorly driven by increasing prevalence of chronic diseases and technological advancements in the API manufacturing. Moreover, continuous increase in patent expiration of major drug is leading factor for generating more sale value of generic drugs. In spite of this, recession in global economics and forceful regulatory requirement may hamper the growth of active pharmaceutical ingredient market during the forecast period. Untapped market and increasing awareness has the potential to generate new opportunities for active pharmaceutical ingredient market.
The global active pharmaceutical ingredient market is broadly segmented into manufacturing type, type of API, API synthesis, type of drug, application and by region. API synthesis segment is further segmented into synthetic chemical API, biotech API and Highly Potent Active Pharmaceutical Ingredient (HPAPI). In 2015, biotech API segment dominated the active pharmaceutical ingredient market with significant share in overall market. Type of manufacturing segment is further segmented into in-house API manufacturing and API contract manufacturing. Due to quality production and low cost, API contract manufacturing emerged as a major segment.
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Based on type of drug, the API market can be segmented into generic drugs, branded drugs and Over the Counter (OTC) drugs. Due to patent expiration of branded drugs and low cost, generic drugs segment is expected to show highest growth during the forecast period. Key applications of active pharmaceutical ingredient market are cardiology, oncology, anti-inflammatory, gastrointestinal and others. Oncology and cardiology segment is expected to be exhibit fastest growth in the API market.
In 2015, North America held the largest market share for active pharmaceutical ingredient market. The dominance of the region was primarily due to government initiative and development in pharmaceutical industry. In addition, Asia-Pacific is expected to exhibit fastest growth in active pharmaceutical ingredient market during the forecast period due increasing new drug application (NDA) and the U.S. FDA approval for manufacturing of pharmaceutical drugs.
Some of the key players in API markets are like Sun Pharmaceuticals Industries Limited, Novartis International AG, Aurobindo, BASF SE, Pfizer, Inc., Boehringer Ingelheim, and Albemarle Corporation among others.