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(Medical-NewsWire.com, February 22, 2016 ) Massive unexplored market in active pharmaceutical ingredient industry of developing economies are creating ample opportunities for the active pharmaceutical ingredient market to grow at a considerable rate in the coming years. Active pharmaceutical ingredients are the primary components of manufacturing effective and safe essential drugs. The advanced research and development facilities of the companies are supporting to address the demand of the active pharmaceutical ingredient industry.
On the basis of type of manufacturers of active pharmaceutical ingredient, the market can be categorized as in-house active pharmaceutical ingredient manufacturing and active pharmaceutical contract manufacturing. The in-house active pharmaceutical ingredient manufacturing leads the active pharmaceutical ingredient market by type of manufacturer category. In addition, the in-house manufacturing is continuously witnessing decline in the segment due to reduced profitability and high research and development cost. On the basis of type of active pharmaceutical ingredient, the market can be categorized as biological active pharmaceutical ingredients, and synthetic chemical active pharmaceutical ingredients. Moreover, on the basis of type of drugs, the market can be categorized as generic prescription drugs, over-the-counter (OTC) drugs, and branded or innovative prescription drugs.
The active pharmaceutical ingredient market can be categorized on the basis of therapeutic areas as oncology drugs, central nervous system drugs, anti-diabetic drugs, musculoskeletal drugs, cardiovascular drugs, and non-steroidal anti-inflammatory drugs. The oncology drugs is expected to grow with the fastest rate in the coming years due to increasing prevalence of cancer cases and rising government initiatives to create awareness about cancer among population.
Geographically, North America will be leading the global active pharmaceutical ingredient market in the coming years due to increasing research and development programs in the field of drugs and medical science. Asia-Pacific is the fastest growing region in the global active pharmaceutical ingredient market. The major reasons for the fastest growth of the market in the region are increasing healthcare expenditure, large pool of patients, and presence of large pool of generic medicine producers in the region. Moreover, the active pharmaceutical ingredient market is growing due to increasing awareness of lifestyle associated diseses in the emerging countries, such as India and China, of Asia-Pacific region.
Browse related market research at: https://www.psmarketresearch.com/industry-report/healthcare
Some of the companies operating in the active pharmaceutical ingredient market are Teva Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories, Actavis Plc, Hospira Inc., Boehringer Ingelheim Group, Lonza Group, Cambrex Corporation, Novartis International AG, BASF SE, Pfizer, Inc., Mylan, Inc., Watson Pharmaceutical Inc., and WuXi Apptec.
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