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The global Active Pharmaceutical Ingredient market is expected to reach a market size approximately $190 billion by 2020, growing at a CAGR of more than 6.5% from 2014 to 2020. API market is mainly driven by the factors such as patent expiration of major drugs, increased generic medicine sales and high uptake of biologics. High Potential Active Pharmaceutical Ingredients (HPAPI) are also driving the API market growth globally as these compounds are very effective in treatment of diseases such as cancer, respiratory disorders and hormonal imbalances and HPAPI growth is mainly driven by its therapeutic applications in Oncology.
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Active Pharmaceutical Ingredients are the active substances in a drug intended to achieve pharmacological activity which is having direct effect on diagnosis or treatment of disease. APIs are synthesized by chemical synthesis, fermentation, biotechnological methods or improved from natural source. The report categorizes the API market based on product type, business type and applications. The market assessment of the above mentioned segments is made across the geographies such as North America, Europe, Asia-Pacific, LATAM and MENA.
Depending on the product type the API market is segmented into synthetic API, Biotech API, and HPAPI. Synthetic API commanded the largest share in 2013 and is growing at a steady pace, whereas the biotech API is expected to register the highest CAGR during the forecast period, strongly driven by the monoclonal antibodies and recombinant proteins. Depending on the applications the API market is categorized into oncology, cardiovascular and hematopoietic system, central nervous system, anti-infective,...