Pfizer, Inc., Novartis International AG, Teva Pharmaceutical Industries Ltd., and Abbvie Inc, among others, are the major players in the global market for active pharmaceutical ingredients.
As per the analysis by Expert Market Research, the global active pharmaceutical ingredients market is expected to be grow at a CAGR of about 5.5% in the forecast period between 2022 and 2027, owing to the growing number of blockbuster patents expiring.
The rapid increase in cells causing chronic conditions has led to a huge increase in the demand for drugs. This has led to the rise in the demand for active pharmaceutical ingredients. Pharmaceutical companies are relocating their manufacturing facilities in order to outsource their operations, allowing them to produce the small molecular drugs they invested in. This can be one of the reasons for the increase in the active pharmaceutical ingredients market during the forecast period.
With the growing number of blockbuster patents expiring, the global market for active pharmaceutical ingredients is also expected to witness growth in the coming years. Further, there has been an increase in demand for ingredients for bio-based substances, which has also resulted in the upliftment of the market. An ageing population, higher expenditure on healthcare, and the increasing prevalence of lifestyle diseases, are some factors that are boosting the market growth.
Low pricing has slowly changed the market for active medicinal components from historical leaders in the West to producers in developing nations like China and India. The active pharmaceutical ingredients market is fiercely competitive for both big and small providers. Companies involved in production often specialise their manufacturing methods and plan their output using a combination of internal skills and commercial opportunities.
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|Headquarters:||New York, United States|
Pfizer, Inc. is a premier biopharmaceutical company in the world. The focus areas of the company include oncology, internal medicine, vaccines, inflammation and immunology, anti-infectives and rare diseases. Their research and development specialisation areas are medicinal sciences, biosimilars, gene therapy, precision medicine, and maternal immunisation.
A global healthcare provider, Novartis offers solutions to meet the changing requirements of patients everywhere. The company’s business includes innovative medicines and oncology. The innovative medicines include pharmaceuticals for Novartis gene therapies. The company also focuses on research and early development, and drug development at Novartis.
|Headquarters:||Tel Aviv, Israel|
Teva Pharmaceutical Industries Ltd is a leading company in the pharmaceutical industry which develops, produces, and markets high-quality generic drugs and speciality pharmaceuticals at a reasonable price. Its portfolio comprises around 3,500 products which makes it one of the most extensive portfolios in the pharmaceutical industry. The focus of the company lies in generic medicines, biopharmaceuticals, and speciality therapeutic areas.
|Headquarters:||Illinois, United States|
AbbVie Inc is a biopharmaceutical company that focuses on delivering transformational medicines and therapies that offer significant benefits to patients. The company has a workforce of around 48,000 employees and has 275 patient support programmes in the entire world. The company aspires to make a significant difference in people's lives in a number of important therapeutic fields, including oncology, eye care, virology, neurology, immunology, and women's and gastroenterology.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.