Research Methodologies Followed for This Study:

Primary Research:

In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess future prospects of the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Secondary Research:

Secondary research was used mainly to identify and collect information for the extensive, technical, market-oriented, and commercial study of the active pharmaceutical ingredients market. The secondary sources used for this study include Active Pharmaceutical Ingredients Committee (APIC), International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), International Pharmaceutical, Congress Advisory Association (IPCAA), European Generic and Biosimilar Medicines Association (EGBMA) and World Health Organization (WHO). These sources were also used to obtain key information about major players, market classification, and segmentation according to industry trends, regional/country-level markets, market developments, and technology perspectives.

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Overview of This Study:

This study involved four major activities in estimating the current size of the active pharmaceutical ingredients market. Exhaustive secondary research was carried out 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. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Report Objectives:

# To define, describe, and forecast the global active pharmaceutical ingredients market based on the type, type of manufacturer, type of synthesis, type of drug, application and region

# To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, challenges, and opportunities)

# To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall active pharmaceutical ingredients market

# To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders

# To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, Asia, and Rest of the World

# To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies

# To track and analyze competitive developments such as acquisitions, product launches, expansions, agreements, partnerships, and R&D activities in the active pharmaceutical ingredients market.

Expected Revenue Growth:

The global active pharmaceutical ingredients market 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.

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Major Growth Boosting Factors:

The 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 are the major factors driving the growth of this market.

Recent Developments in Global API Industry:

# In 2020, Pfizer (US) signed a multiyear agreement with Gilead Sciences to manufacture and supply Gilead’s antiviral drug (Remdesivir) for the treatment of COVID-19.

# In 2020, Novartis (Switzerland) acquired Aspen’s Japanese operations to strengthen its position in the global generics and off-patent medicines market. Novartis also entered into a manufacturing and supply agreement with Aspen.

# In April 2020, Boehringer Ingelheim (Germany) acquired Northern Biologics, which focuses on therapeutic antibodies targeting the tumor microenvironment. This acquisition broadened Boehringer Ingelheim’s oncology product portfolio.

Global Key Players:

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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