Latest industry research report on Active Pharmaceutical Ingredients Market. Active Pharmaceutical Ingredients are chemically and biologically active components of drugs with direct effect in cure, mitigation, treatment and prevention of diseases. The global API market has witnessed tremendous growth over the last few decades owing to the increased use of drugs and biologics in the treatment of diseases.
The increasing adoption of quality standards in API manufacturing such as Good Manufacturing Practices (GMP), current GMP (cGMP), and the global adoption of International Conference on Harmonization (ICH) guidelines, has helped improve the safety standards. On the other hand, the API industry is facing the challenges such as, shortening the development time, reducing the cost of development, improving the process design and meeting the quality standard without compromising on the profitability.
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The global API market is likely to be impacted by a large number of innovative drugs going off patent in the recent years. There is an impending need for technological innovations to maintain the profitability in high volume and a low value environment.
The major factors driving the market growth are, rising incidences of oncology, cardiovascular, diabetes and lifestyle diseases, rising number of hospitals and diagnostic centers, rising geriatric population in developing countries, increasing healthcare expenditure, increasing disease awareness and education. However, a lack of skilled workforce and limited accessibility of drugs in the developing countries are likely to restrict the market growth.
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The Active Pharmaceutical Ingredients (API) Market is segmented below:
Active Pharmaceutical Ingredients (API) Market By API Type
Active Pharmaceutical Ingredients (API) Market By Drug Type
Active Pharmaceutical Ingredients (API) Market By Manufacturer
Active Pharmaceutical Ingredients (API) Market By Therapy Area
Active Pharmaceutical Ingredients (API) Market By Geography
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