Global High Potency Active Pharmaceutical Ingredients (HPAPIs) Market is Expected to Reach USD 17.5 billion in 2018: Transparency Market Research
Albany NY (PRWEB) December 20, 2012
In the overall global market, North America accounts for the largest market share, whereas Asia Pacific is likely to witness highest growth in the forecasted period. India and China will be the major countries to register high growth rate in the high potency active pharmaceutical ingredients (HPAPIs) market due to rising health awareness, growing economies and improving healthcare systems.
High potency active pharmaceutical ingredients (HPAPIs) are growing rapidly as compared to other segments of the healthcare industry. HPAPI are the compounds helpful in the treatment of respiratory disorders, treatment of cancer and hormonal imbalances. Growing oncology therapeutics market worldwide is the key factor driving the growth of this market.
High potency active pharmaceutical ingredients market is a growing concept and is considered to be a boost to the pharmaceutical industry. Patented high potency drug development majorly dominates the HPAPI market. The branded sector constitutes the major share of this market but the patents of this branded sector are expected to expire in the coming few years that will help HPAPI manufacturers to cater to multiple clients by producing the generic version of the ingredients in bulk.
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Some of the factors driving this market at a rapid growth rate are majority of blockbuster drugs nearing patent expiry, US government promoting generic drugs to reduce its medical burden, insurance companies preferring generic drugs over patented drugs for cost effectiveness and India and China with maximum DMFs with the US FDA.
However, a large number of competitors are entering this market making it highly fragmented which may slow down the growth of this market. Moreover, reduced R&D investments leading to low demand of HPAPIs and shortage of US FDA approved manufacturing sites are also likely to be the major restraints for the growth of the high potency active pharmaceutical ingredients market.
However, North America has been the largest market for high potency pharmaceutical ingredients as the country spends highly on the development of healthcare systems, whereas the European market has experienced several fluctuations in the past few years but is expected to grow rapidly in the near future due to rise in the demand of oncology drugs in this region.
Asia Pacific region is expected to witness high growth in the coming years due to the production of generics at a significant rate. Currently, the Asia Pacific region is the second largest market after North America for HPAPIs and is expected to become the largest market soon. Skilled manpower and low labor cost are greatly contributing to API manufacturing and outsourcing combined with research and development. India and China are the major countries in the Asia Pacific region expected to witness high growth in the near future.
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Some of the major players of this market are Pfizer, Roche, Novartis, GlaxoSmithkline Pharmaceuticals Ltd., BASF Se, Hospira Inc., Matrix Laboratories Limited, Covidein Plc and Astra Geneca International, among others.
This research is specially designed to estimate and analyze the demand and performance of high potency active pharmaceutical ingredients in a global scenario. The research provides in-depth analysis of the HPAPI market by end use, by application and by type segments and demand by geography. The report covers all the major product segments of the High HPAPIs market and provides in-depth analysis, historical data and statistically refined forecast for the segments covered.