Active pharmaceutical ingredient Market is anticipated to grow with the Increasing adoption of generic medicine
Published Date | 2019 September 10
BlueWeave Consulting review study of Active Pharmaceutical Ingredient Market anticipated to reach US$ XXX Million with a significant CAGR of 5.97% in the forecast period of 2015-25. Price is one of the growth driving factor for generic drug adoption in the forecast period of 2019-25, in comparison with brand name analogue the prices of generic drugs are cheaper with the same standards followed by innovator drugs such as safety, efficacy, and quality. Significant growth in prevalence of cardiovascular, chronic and infectious diseases coupled with an increasing pattern of an unhealthy lifestyle and growing geriatric population enhance the demand of generic drug market (in terms of sales) in the developing countries. Emerging economies such as India and China, as manufacturers have sufficient manufacturing units, a higher spending power, and greater significance on transparent pricing by measuring effects on the population to expand the pattern of generic adoption and generic drug manufacturing in the global active pharmaceutical ingredient market (2019-25).
In terms of therapeutic area oncology segment is anticipated to drive the global generic medicine in active pharmaceutical ingredient market due to the lucrative number of research, in-process research, and patent expiry in the oncology segment. Regulated policy and reforms by the United States to regulate the healthcare affordability coupled with the biotech synthesis of innovative drugs and technology anticipated to propel the growth of generic drug adoption in the active pharmaceutical ingredient market.
Captive (In-house) manufacturing holds the largest market share of active pharmaceutical ingredient market in the forecast period
To uphold in the highly competitive landscape, the upcoming players are investing in innovative product launches with in-process R&D. Economic benefits and prevent technology leakage followed by the trend of maintaining active pharmaceutical ingredient manufacturing with the integration in pharmaceutical supply chain propel the growth of captive (In-house) manufacturers in the forecast period. The major advantages of active manufacturing are flexibility, customisation, rapid testing of prototypes, and lower cost when producing in small volumes. The significant growth rate in spending of healthcare is one the factor driving the growth of captive manufacturing in active pharmaceutical ingredient market during the forecast period of 2019-25.
Growing demand for CVD drugs is the growth driven factor for active pharmaceutical ingredient market during the forecast period
The Active Pharmaceutical Ingredient market is getting a boost from the growing prevalence of cardiovascular, chronic, and infectious diseases coupled with the increasing trend of an unhealthy lifestyle and growing geriatric population. CVD is emerging as the lucrative therapeutic segment for innovative and generic drug manufacturing companies in terms of CVD drug consumption by end-users in the forecast duration. Increasing adoption rate of generic medicine in the developing countries drive the global medical spending in generic drug segment. Increasing demand for low-cost CVD generic drug market is anticipated to witness a lucrative growth rate in the forecast period of 2019-25.
Active pharmaceutical ingredient Market: Competitive Landscape
Some of the major industry players are Teva Pharmaceutical Industries Ltd., Boehringer Ingelheim GmbH, Sun Pharmaceutical Industries Ltd., Pfizer Inc., Aurobindo Pharma, Abbott Laboratories, Boehringer Ingelheim International GmbH, Merck & Co., Inc., Novartis AG, Hoffmann-La Roche Ltd, Bayer AG and Other Prominent Players
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Active pharmaceutical ingredient market size & forecast. The report promises to provide state-of-the-art technology of Active pharmaceutical ingredient production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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