Active Pharmaceutical Ingredients Market Growing at a CAGR of 6.5% between 2014 and 2020
Active Pharmaceutical Ingredients (API) Market: (Branded/Generic/Over-the-counter, Chemical/Biological, Captive/Contract Manufactured, by Geography, and by Therapeutic Area) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Diseases and epidemics are nature’s way to control population. With the ever-increasing number of deaths being reported due to various chronic diseases as well as newly diagnosed cases, the global active pharmaceutical ingredients (API) market has a huge demand to meet.
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Global API Market to be Valued at US$185.9 Billion by 2020
In 2013, the global API market was valued at US$119.7 billion. It is expected to grow at a CAGR of 6.5% from 2014 to 2020 and reach a valuation of US$185.9 billion by 2020. On the basis of therapeutic area, the API market is segmented into non-steroidal anti-inflammatory drugs (NSAIDS), oncology drugs, anti-diabetic drugs, cardiovascular drugs, central nervous system drugs, musculoskeletal drugs, and others.
Oncology Segment Will Be the Fastest Growing Drug Segment
Due to the prevalent sedentary lifestyle and growing aging population, cardiovascular diseases and diseases related to the central nervous system are rising. In 2013, the market revenue share for cardiovascular drugs was the highest. As per the data provided by the World Health Organization, in 2012, cancer alone led to 8.2 million deaths worldwide along with 14 million newly diagnosed cases. In response to this, the oncology drug segment will have the fastest growth in the API market during the period from 2014 to 2020. High potency active pharmaceutical ingredients (HPAPIs) are a component of most drugs in the oncology drug segment. So, the growth...