Latest News- Active Pharmaceutical Ingredient (API) Market in US: Captive API is expected to lead the Type segment during 2024-2028
The Active Pharmaceutical Ingredient (API) Market in US is being driven by Increasing number of type II drug master files (DMF)
The Active Pharmaceutical Ingredient (API) Market in US is expected to grow at a CAGR of 7.87% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 16.51 billion. In the pharmaceutical industry, there has been a significant shift from in-house Active Pharmaceutical Ingredient (API) manufacturing to outsourcing to Contract Manufacturing Organizations (CMOs) and other drug manufacturing entities. Initially, this trend began with the outsourcing of early-stage API intermediates. However, it has since expanded to encompass advanced intermediates and final dosage forms, including those for generic drugs. Factors influencing this decision include industry trends, the cost of acquiring new technologies in-house, and the availability of internal capacity. This outsourcing trend in the US API market has transformed the pharmaceutical landscape, allowing companies to focus on their core competencies while leveraging external expertise and resources.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Captive API, Contract API) Product (Generic, Innovative) Application (Oncology, Cardiovascular diseases, Diabetes, Communicable diseases, Orthopedic and others) Geography (North America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Active Pharmaceutical Ingredient (API) Market in US Research Report
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The Active Pharmaceutical Ingredient (API) market in the US is driven by the demand for formulations to treat various chronic diseases such as cardiovascular disorders, chronic disorders, infectious diseases, and genetic disorders. The market is also influenced by the rise of counterfeit drugs and the increasing prevalence of cancer, diabetes, and other health conditions. APIs for biologics, biosimilars, small molecules, and large molecules are in high demand. Excipients, genes, and lifestyle factors also impact API usage. Reimbursement, profits, and R&D spending are key challenges for API suppliers. Clinicians, healthcare systems, patients, and regulatory bodies play significant roles in the market. Precision medicine, therapeutic interventions, and preventive interventions are emerging trends. API suppliers face challenges from mammalian and microbial expression systems in the production of APIs for prescription drugs like Acetaminophen and Artemisinin, as well as generics and new therapeutic interventions.
The Active Pharmaceutical Ingredient (API) market in the US is a significant segment of the global pharmaceuticals industry, encompassing companies involved in the research and development (R&D) or production of APIs for various therapeutic areas. This market is part of the larger healthcare industry, which includes manufacturers and providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. According to Technavio, the global pharmaceuticals market will experience growth due to several factors, including the increasing prevalence of chronic diseases such as schizophrenia, infectious diseases, and genetic disorders, as well as the rise in demand for counterfeit drugs. Additionally, an aging population, with a growing number of individuals over the age of 60, will contribute to increased demand for pharmaceutical products. Companies like Chasse-sur-Rhône, Teva Pharmaceutical, and MEDinCell are key players in the API market, leveraging their expertise in excipients and formulation development to meet the demands of this dynamic industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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