Research Nester published a report titled “Active Pharmaceutical Ingredient (API) Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers a detailed overview of the global active pharmaceutical ingredient (API) marketin terms of market segmentation by API type, synthesis type, application, by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global active pharmaceutical ingredient (API) market is projected to grow at a CAGR of ~7% by attaining robust revenue during the forecast period, i.e., 2022 – 2031. Rising cases of chronic disease are anticipated to propel the growth of the market during the forecast period. It is observed that about 40 million people die due to chronic diseases every year. Additionally, a higher prevalence of cardiovascular diseases is further estimated to hike the growth of the market over the forecast period. For instance, around 18 million people lose their lives every year.
Additionally, by application, the global active pharmaceutical ingredient (API) market is segmented into cardiology, oncology, pulmonology, neurology, ophthalmology, and others. Out of these sub-segments, the cardiology segment is estimated to obtain the largest share in the market during the forecast period. The growth of the segment can be accounted to the rising cases of heart diseases. Around 600,000 individuals die due to heart diseases annually in the USA.
Furthermore, the global active pharmaceutical ingredient (API) market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the North America region is estimated to grow at a rapid pace over the forecast period on the back of cardiovascular diseases. Centers for Disease Control and Prevention published a set of data showing that in every 34 seconds 1 person dies due to cardiovascular diseases. Additionally, exponential development in the healthcare infrastructure in the region is also projected to fuel market growth over the forecast period.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Higher Prevalence of Diabetes to Foster the Growth of the Market
International Diabetes Federation (IDF) published a report showing that there will be around 643 million cases of diabetes by 2030.
Diabetes is a chronic condition affecting the human body to make energy from food. Diabetes requires regular monitoring and medication. If the person diagnosed with diabetes stops taking the medicines, it might result in a serious health condition. Hence, such a requirement of medicine to cure diabetes is estimated to fuel the market growth over the forecast period.
However, the higher price associated with the manufacturing process and possibilities of side effects is expected to operate as a key restraint to the growth of the global active pharmaceutical ingredient (API) market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global active pharmaceutical ingredient (API) market which includes company profiling of Teva Pharmaceutical Industries Ltd., Pfizer Inc., Abbott Laboratories, AbbVie Inc., Mylan N.V., GSK plc, Eli Lilli and Company, Sun Pharmaceutical Industries Ltd., Novartis AG, and Merck & Co. Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global active pharmaceutical ingredient (API) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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