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(Medical-NewsWire.com, June 23, 2017 ) Browse 369 market data tables and 46 figures spread through 312 pages and in-depth TOC on “Active Pharmaceutical Ingredients/API Market”
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Market growth is driven by the increasing incidence of chronic diseases, rising prevalence of cancer, technological advancements in API manufacturing, growing importance of generics, rapidly increasing geriatric population, increase in abbreviated new drug applications (ANDA) and increasing uptake of biopharmaceuticals.
Furthermore, emerging biosimilars market, increasing scope for HPAPIs, emerging markets and emerging technologies have opened an array of opportunities for the growth of the market. However, factors such as stringent regulatory requirements and unfavorable drug price control policies across various countries may restrain the growth of this market.
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On the basis of type, the market is segmented into innovative and generic APIs. The innovative APIs segment is estimated to command the largest share in 2016.
Some of the major factors contributing to its large share include growing demand for innovative therapeutics for treatment of dreadful diseases, especially cancer , the increase in the number of FDA approvals for new molecular entities and the higher prices of innovative APIs (as compared to generics). On the basis of type of synthesis, the market is segmented into synthetic and biotech APIs.
North America dominates the active pharmaceutical ingredients market, with the U.S. accounting for the major share.
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This can be attributed to the increase in the increasing incidence of chronic diseases, increasing focus of the government on the growing adoption of generic drugs, rising demand for biologics and specialty drugs, and technological advances in API manufacturing in this region.
The prominent players in the active pharmaceutical ingredients market are Pfizer, Inc. (U.S.), Novartis International AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), Bristol-Myers Squibb (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly and Company (U.S.), GlaxoSmithKline plc (U.K.), Merck & Co., Inc. (U.S.) and AbbVie Inc. (U.S.).
Market Stakeholders:
• Medical image management software providers
• Diagnostic imaging equipment vendors/service providers
• Standalone image management software/workstation providers
• Healthcare IT service providers
• Research and consulting firms
• Diagnostic imaging centers
• Hospitals
• Venture capitalists
• Government agencies
• Market research and consulting firms
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