The global active pharmaceutical ingredient market is growing significantly due to patent expiry of biologic drugs in the industry. Patent expiry of blockbuster drugs has boosted the demand for low cost substitutes, which further increases the demand for active pharmaceutical ingredients in the industry. Moreover, increasing investment into biosimilars is expected to support the growth of the market in the coming years.
On the basis of type of manufacturers of active pharmaceutical ingredient, the market can be categorized as in-house active pharmaceutical ingredient manufacturing and active pharmaceutical contract manufacturing. The in-house active pharmaceutical ingredient manufacturing leads the active pharmaceutical ingredient market by type of manufacturer category. In addition, the in-house manufacturing is continuously witnessing decline in the segment due to reduced profitability and high research and development cost. On the basis of type of active pharmaceutical ingredient, the market can be categorized as biological active pharmaceutical ingredients, and synthetic chemical active pharmaceutical ingredients. Moreover, on the basis of type of drugs, the market can be categorized as generic prescription drugs, over-the-counter (OTC) drugs, and branded or innovative prescription drugs.
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Some of the factors driving the growth of active pharmaceutical ingredient market are increase in condensed new drug applications, and increasing prevalence of chronic diseases such as cardiovascular disease, and cancer. The increasing lifestyle associated diseases such as diabetes, rise in geriatric population, and increasing promotion of generic drugs by the government are also fueling the growth of the active pharmaceutical ingredients market. However, strict regulatory requirements and decline in research and development expenditure are some of the factors restraining the growth of the active pharmaceutical ingredient market to some extent.
Some of the companies operating in the active pharmaceutical ingredient market are Teva Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories, Actavis Plc, Hospira Inc., Boehringer Ingelheim Group, Lonza Group, Cambrex Corporation, Novartis International AG, BASF SE, Pfizer, Inc., Mylan, Inc., Watson Pharmaceutical Inc., and WuXi Apptec.
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