...This is How the Global #API #Manufacturing Industry is Impacted by #COVID19 #Pandemic

Major Take-Aways From This Study:

# Covid Impact on Active Pharmaceutical Ingredient Market, growth/decline in product type/use cases of Active Pharmaceutical Ingredient/ API Market due to cascaded impact of Covid on Extended Ecosystem.

# How top 50 companies in API Market are making rapid shifts in their strategies as we speak here.

# Outside-in view of top 50 companies client and client's clients shifting short-term priorities

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 Active Pharmaceutical Ingredient 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 also 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.

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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. 

Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the global API market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and markets have been identified through extensive secondary research.

# The revenue generated from the sale of active pharmaceutical ingredients by leading players has been determined through primary and secondary research.

# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

“The captive API manufacturers segment estimated to account for the largest share in 2019.”

Based on type of manufacturer, the Active Pharmaceutical Ingredient Market can be divided into captive API manufacturers and merchant API manufacturers. In 2019, the captive API manufacturers segment is expected to account for the largest share of the API market. This can be attributed to the fact that most big pharmaceutical companies possess their API manufacturing facilities and are vertically integrated across the pharmaceutical supply chain. Moreover, innovator companies prefer in-house manufacturing of innovative products to avail economic benefit and prevent technology leakage.

Recent Developments:

# In January 2018, Pfizer entered into a collaboration with Sangamo Therapeutics, Inc. (US) for the development of a potential gene therapy to treat amyotrophic lateral sclerosis (ALS).

# In May 2018, Novartis acquired AveXis, a clinical-stage gene therapy company, to develop a gene-based treatment for spinal muscular atrophy.

# In January 2018, Sanofi acquired Ablynx, a biopharmaceutical company to strengthen its platform for growth in rare blood disorders.

# In January 2018, Sanofi and Alnylam Pharmaceuticals, Inc. (US) announced a strategic restructuring of their RNAi therapeutics alliance to streamline and optimize the development and commercialization of products prescribed for the treatment of rare genetic diseases.

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“North America to dominate the market in 2019.”

In 2019, North America is expected to dominate the Active Pharmaceutical Ingredient 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.

Major Industry Leaders:

The key players in the API 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).