Market growth is driven mainly by factors such as rising drug R&D, the increasing incidence of chronic diseases, the growing importance of generics, and the increasing uptake of biopharmaceuticals. On the other hand, unfavorable drug price control policies across various countries and high manufacturing costs are expected to restrain the growth of this market.

The global active pharmaceutical ingredient market size is projected to reach USD 248.3 billion by 2025 from USD 187.3 billion in 2020, at a CAGR of 5.8% during the forecast period.

The global active pharmaceutical ingredients market is highly consolidated. Prominent players in the active pharmaceutical ingredients market include Pfizer Inc. (US), Novartis International AG (Switzerland), Merck & Co. (US), Teva Pharmaceutical Industries Ltd. (Israel), Mylan N.V. (US), Boehringer Ingelheim (Germany), F. Hoffmann-La Roche AG (Switzerland), Sanofi (France), AbbVie (US), Eli Lilly and Company (US), AstraZeneca (UK), Bristol-Myers Squibb (US), and GlaxoSmithKline plc (UK). Geographic expansions and collaborations are the key growth strategies undertaken by these companies to maintain their positions in the market.

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CSL (Australia) is one of the prominent players in the active pharmaceutical ingredients market in 2019. With distribution channels in over 35 countries and 230 plasma collection centers, CSL has established itself as a significant player in the active pharmaceutical ingredients market. The company provides plasma-derived products for acute and chronic conditions such as hemophilia, Von Willebrand disease, and primary immune deficiencies.

Grifols (Spain) is a leading manufacturer in active pharmaceutical ingredients market. Grifols is a global healthcare company specializing in the development, manufacture, and distribution of plasma-derived products. The company focusses on research and product innovation by investing heavily in R&D, as well as partnering with research institutes for the development of advanced plasma-derived products to fight rare diseases. For instance, in 2018, the company received FDA approval for HyperRAB rabies immune globulin (human) for rabies post-exposure prophylaxis, GamaSTAN immune globulin (human) for hepatitis A virus (HAV), and measles post-exposure prophylaxis, among others. The company also constantly focuses on the expansion of its plasma collection centers and increasing its capacity. It has more than 190 centers in the US and 35 in Europe.

Pfizer is one of the leading players in the APIs market. The leading position of the company is majorly attributed to its exhaustive product portfolio. The company has a strong brand image, which gives it a competitive edge over other players. In order to remain competitive and strengthen its market position, the company primarily focuses on adopting both organic and inorganic growth strategies such as agreements, partnerships, collaborations, product approvals, and acquisitions. In accordance with this, in July 2019, Pfizer acquired Array BioPharma Inc. (US), a clinical-stage pharmaceutical company that focuses on oncology medication.

Novartis is among the leading players in the APIs market. Its leading position can be attributed to its strong brand recognition and robust product portfolio. In order to maintain its leading position, the company invests a significant amount of its revenue in R&D activities. In 2019, the company invested 19.8% of its total revenue (USD 47.45 billion) in R&D. This significant investment in R&D enables the company to launch innovative and technologically advanced products in the market.

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North America was the largest regional market for active pharmaceutical ingredients market in 2019

The global active pharmaceutical ingredients market is segmented into North America, Europe, Asia, Latin America, and Rest of the World. In 2019, North America accounted for the largest share of the active pharmaceutical ingredients market, followed by Europe and the Asia. The large share of North America in the global market is attributed to 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. However, the market in the Asia is expected to grow at the highest CAGR during the forecast period. This can be attributed to the low manufacturing costs, growth in the increase in disposable income, the high prevalence of lifestyle- and age-related diseases, and government efforts to reform healthcare industry.

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