The global active pharmaceutical ingredient (API) market size is expected to reach at USD 268.12 billion by 2026 registering a CAGR of 6.8%, according to a new report by Grand View Research, Inc. Rising trend of outsourcing APIs and growing prevalence of various target diseases, such as cancer, Cardiovascular Disease (CVDs) are anticipated to boost the market. Huge capital is required in API production as the process needs extremely systematic protocols. Pharmaceutical companies can actually benefit from outsourcing API production, as it eliminates the need for installing expensive manufacturing units. Moreover, strategic outsourcing enables companies to focus on their core competencies, ultimately resulting in increased productivity. These factors are also estimated to drive the demand in future.
Growing geriatric population across the globe is also likely to contribute to the market expansion. Estimates published by the WHO suggest that the global base of population pertaining to the age group of 65 years and above is expected to rise from 7% in 2000 to 16% in 2050. Latin America, in particular, is projected to witness fastest growth, in terms of geriatric population, followed by Asia (66%), Africa (64%), North America (41%), and Europe (23%). Patent expiration of blockbuster drugs, growing outsourcing activities due to high manufacturing costs, and stringent regulations for API production are expected to intensify the market competition. As part of strategic geographic expansion, many companies are setting up manufacturing plants in the developing regions like Asia Pacific.
Request a sample Copy of the Active Pharmaceutical Ingredient (API) Market Research Report @ https://www.grandviewresearch.com/industry-analysis/active-pharmaceutical-ingredients-market/request/rs1
Key Takeways Of The Report :
Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/658/ibb
Grand View Research has segmented the global Active Pharmaceutical Ingredient (API) market on the basis of type of synthesis, type of manufacturer, type, application, and region:
API Type of Synthesis Outlook (Revenue, USD Billion, 2014 – 2026)
API Type of Manufacturer Outlook (Revenue, USD Billion, 2014 – 2026)
API Type Outlook (Revenue, USD Billion, 2014 – 2026)
API Application Outlook (Revenue, USD Billion, 2014 – 2026)
API Regional Outlook (Revenue, USD Billion, 2014 – 2026)
Browse Related Report:
CIS Insulin Market : https://www.grandviewresearch.com/industry-analysis/cis-insulin-market
Antidiabetics Market : https://www.grandviewresearch.com/industry-analysis/antidiabetics-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1-415-349-0058, Toll Free: 1-888-202-9519Address:201, Spear Street, 1100 City: San FranciscoState: CaliforniaCountry: United StatesWebsite: www.grandviewresearch.com/industry-analysis/active-pharmaceutical-ingredients-market