The global APIs 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.
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.

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The global APIs market has several big players. 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. Some of the leading players who adopted these strategies include Pfizer, Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), and Bristol-Myers Squibb (US).

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 June 2016, Pfizer acquired Anacor Pharmaceuticals, Inc. (US), a leading biopharmaceutical company developing small molecule therapeutics.

Novartis is another leading player 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. The significant investment in R&D enables the company to launch innovative and technologically advanced products in the market. Novartis also focuses on inorganic growth strategies to sustain its foothold in the market. For instance, in June 2016, Novartis entered into a licensing and collaboration agreement with Xencor (US), a biopharmaceutical company that develops engineered monoclonal antibodies. The purpose of this agreement was to develop bispecific antibodies for treating cancer.

Sanofi is one of the top players in the global APIs market. The leading position of the company is majorly attributed to its exhaustive product portfolio. The company manufactures APIs through its Sanofi Active Ingredient Solutions portfolio, which provides custom synthesis and API contract manufacturing services. The company pursues various growth strategies to strengthen its position in the APIs market. For instance, in July 2016, Sanofi Pasteur, a business unit of Sanofi, entered into an agreement with the Walter Reed Army Institute of Research (WRAIR) (US) to develop the Zika vaccine.
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“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.

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