Active Pharmaceutical Ingredient (API) Market is Expected to Reach $159.08 Billion by 2016 - Report by MarketsandMarkets
(PRWEB) March 10, 2014 -- The “Active Pharmaceutical Ingredient (API) Market Trends, Competitive Landscape and Global Forecasts (2011-2016)” analyzes and studies the major market drivers, restraints, and opportunities in regions such as North America, Europe, Asia, Japan and Rest of the world.
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The overall API market was valued at $101.08 billion in 2010, and is expected to grow at a CAGR of 7.9% till 2016.
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The API market is facing a period of unprecedented growth as market dynamics have undergone a major change with the expiration of patents pertaining to global best-seller drugs in the U.S. The consequences of the economic crisis has hit the Innovative drugs market hard, with less budgets allocated by the major players for the R&D of Innovative drugs. This has led to drying up of pipelines for new drugs, and therefore the market for generic drugs is quickly growing. Thus, the patent expiry factor is slated to drive the API market for the coming years. At the same time, the governments of developed countries are promoting the use of generics as it reduces the total healthcare expenditure of the respective country.
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North America accounts for the highest API Market; with share of 32% in 2011; and is expected to decrease to 27% by the year 2016. Europe accounts for 31% of the total API market and is expected to decrease to 29% by the year 2016. Moreover, Asia accounts for 26% market share as of the year 2011 and is expected to grow to 34% by the year 2016.
The HPAPI market is driving the API market growth globally at a fast rate. As these compounds are extremely effective in the treatment of cancers, respiratory disorders, and hormonal imbalances, the HPAPIs market is mostly driven by the growth in the oncology therapeutics market worldwide. The global HPAPI market is valued at $8,900 million in 2011; and is expected to grow at a CAGR of 8.3% from 2011 to 2016.
The major players in the market include Teva Pharmaceuticals Ltd (Israel), Sandoz (Switzerland) (Generic Subsidiary of Novartis), Lonza Group AG (Switzerland), DSM (The Netherlands), Dr. Reddy’s Lab Ltd (India), and Boehringer Ingelheim GmbH (Germany).
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