API (Active Pharmaceutical Ingredients) Market
Added: (Wed Oct 10 2018)
Pressbox (Press Release) -
API (Active Pharmaceutical Ingredients) Market includes (by API Type (Chemical API, Biological API), Drug Type (Innovative Drugs, Generic Prescription, and Over-the-counter (OTC) Drugs), Therapy Area (Oncology Drugs, Non-steroidal Anti-inflammatory Drugs, Cardiovascular Drugs, Anti-diabetic Drugs, Neurology Drugs, Musculoskeletal drugs, others)), and Region (North-America, Europe, Asia Pacific, Latin America, Middle East and Africa)) – is expected to reach USD 223.15 by 2026 at a CAGR of 6.6%.
Prescription drugs will be the leading type segment during the forecast period for API (Active Pharmaceutical Ingredients) Market
The prescription drugs segment is expected to account for the largest share of the APIs market. It can be attributed to the increasing demand of drugs due to rise in incidence of diseases such as cancer, cardiovascular disease, and respiratory disorders.
Among drug type segment, an innovative drug is expected to hold a larger market share
Innovative drug segment held the largest share of the market in 2017, because of high demand for these innovative drugs in the treatment of terminal diseases like cancer along with FDA approval of new molecules.
North America to hold the largest market share for the API (Active Pharmaceutical Ingredients) Market in forecast period of 2018-2026
North America accounted for the largest share because of increased consumption of API to maintain overall health. This along with the presence of major manufacturers have further acted as a major driver for the market growth of API.