Active Pharmaceutical Ingredients and Chemicals Supplier
Active pharmaceutical ingredients (APIs) are the active components in a pharmaceutical drug that produce the required effect on the body to treat a condition. APIs are produced by processing chemical compounds. In a biologic drug, the active ingredient is known as a bulk process intermediate (BPI). Despite high manufacturing expenses, strict regulatory policies, and policies in controlling drug prices in many countries, attractive opportunities have emerged in the API market due to growing cases of chronic diseases, including diabetes, asthma and cancer.
Types of Active Pharmaceutical Ingredients
APIs are broadly categorised into two types – Synthetic and Natural. Synthetic APIs are further classified into innovative and generic synthetic APIs, based on the type of synthesis used. Synthetic chemical APIs, also known as Small Molecules, constitute a large part of the pharmaceutical market, with many small molecule drugs commercially available in the market. Natural APIs are used in making Biologics, which are increasingly becoming the top-selling drugs in the market. Despite the growing demand, biologics are currently significantly fewer in number compared to small molecule drugs. Based on the Solubility, APIs are categorised into Insoluble and Soluble Drugs. The Active Pharmaceutical Ingredients (API) market is also segmented by Business Mode (Captive AP and Merchant API), by Synthesis Type (Synthetic and Biotech), by Type of Drug (Generic and Branded), by Application (Cardiology, Pulmonology, Oncology, Ophthalmology, Neurology, Orthopedic, and Other Applications).
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Market Overview
The active pharmaceutical ingredients (API) market was valued at approximately USD 177.05 billion in 2021, and it is expected to reach USD 258.60 billion by 2027, registering a CAGR of nearly 7.50% during the forecast period 2022-2027.
Major Players
The active pharmaceutical ingredients market is highly competitive and consists of several major players, indicating a fragmented market scenario. The API market has several manufacturers from China and India holding a dominant market position due to their large manufacturing footprints. In Europe, Italy, Germany, and the UK are the key regions for API trade due to the presence of a well-developed pharmaceutical and life sciences sector.
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