The global
active
pharmaceutical ingredient market is growing significantly due to patent expiry of
biologic drugs in the industry. Patent expiry of blockbuster drugs has boosted
the demand for low cost substitutes, which further increases the demand for
active pharmaceutical ingredients in the industry. Moreover, increasing
investment into biosimilars is expected to support the growth of the market in
the coming years.
Massive
unexplored market in active pharmaceutical ingredient industry of developing
economies are creating ample opportunities for the active pharmaceutical
ingredient market to grow at a considerable rate in the coming years. Active
pharmaceutical ingredients are the primary components of manufacturing
effective and safe essential drugs. The advanced research and development
facilities of the companies are supporting to address the demand of the active
pharmaceutical ingredient industry.
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Geographically,
North America will be leading the global active pharmaceutical ingredient
market in the coming years due to increasing research and development programs
in the field of drugs and medical science. Asia-Pacific is the fastest growing
region in the global active pharmaceutical ingredient market. The major reasons
for the fastest growth of the market in the region are increasing healthcare
expenditure, large pool of patients, and presence of large pool of generic
medicine producers in the region. Moreover, the active pharmaceutical
ingredient market is growing due to increasing awareness of lifestyle
associated diseses in the emerging countries, such as India and China, of
Asia-Pacific region.
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Some of
the companies operating in the active pharmaceutical ingredient market are Teva
Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories, Actavis Plc, Hospira
Inc., Boehringer Ingelheim Group, Lonza Group, Cambrex Corporation, Novartis
International AG, BASF SE, Pfizer, Inc., Mylan, Inc., Watson Pharmaceutical
Inc., and WuXi Apptec.
