(EMAILWIRE.COM, February 21, 2020 ) The study involved four major activities to estimate the current size of the global active pharmaceutical ingredient market. Exhaustive secondary research was done to collect information on the market, its peer markets, and its parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

The global active pharmaceutical ingredient market is estimated to reach USD 245.2 billion by 2024 from USD 182.2 billion in 2019, at a CAGR of 6.1% during the forecast period. The increasing incidence of chronic diseases, growing importance of generics, and the increasing uptake of biopharmaceuticals are some of the major factors driving the growth of the global APIs market. On the other hand, the unfavorable drug price control policies across various countries and the increasing penetration of counterfeit drugs are expected to restrain the growth of this market in the coming years.

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Key Questions addressed by the report:

# Where will all these developments take the industry in the mid to long term?
# What types of annual and multi-year partnerships are API companies exploring?
# Which are the key players in the market and how intense is the competition?
# Which are the recent contracts and agreements key players have signed?
# What are the recent trends affecting the API manufacturers?

“North America to dominate the market in 2019.”

In 2019, North America is expected to dominate the market, followed by Europe. The major factors driving the overall growth of the APIs market in this region include the growing incidence of preventable chronic diseases, increasing government focus on generic drugs, rising demand for biologics and specialty drugs, and technological advancements in the manufacturing processes of APIs. This market segment is expected to grow at a modest rate due to a combination of economic and healthcare severity measures and the introduction of low-cost, generic versions of branded drugs.

The key players in the market are Pfizer, Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), Bristol-Myers Squibb (US), Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly and Company (US), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), AbbVie Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), and AstraZeneca plc (UK).

These players have adopted various growth strategies, such as partnerships, acquisitions, agreements, and collaborations as well as new product launches, to further expand their presence in the global market. Acquisitions and collaborations have been the key growth strategies adopted by players from 2016 to 2018.

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