The increasing incidence of chronic diseases, growing importance of generics, and the increasing uptake of biopharmaceuticals are some of the major factors driving the growth of the global APIs market. On the other hand, the unfavorable drug price control policies across various countries and the increasing penetration of counterfeit drugs are expected to restrain the growth of this market in the coming years.
The global APIs market is estimated to reach USD 245.2 billion by 2024 from USD 182.2 billion in 2019, at a CAGR of 6.1% during the forecast period.
On the basis of expression system, biotech APIs can be categorized into mammalian expression systems, microbial expression systems, yeast expression systems, insect expression systems, and other expression systems. The biotech APIs market, by expression system, is dominated by mammalian expression systems owing to their ability to achieve the highest level of post-translational modifications and efficient protein folding, which makes them suitable for human use.
In 2019, the prescription drugs segment is expected to account for the largest share of the APIs market.
Based on the type of drug, the APIs market can be classified into two segments prescription drugs and over-the-counter (OTC) drugs. In 2019, the prescription drugs segment is expected to account for the largest share of the APIs market. The demand for drugs falling under this category has increased significantly in recent years due to the rising prevalence of target diseases.
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The captive API manufacturers segment estimated to account for the largest share in 2019.
Based on type of manufacturer, the APIs market can be divided into captive API manufacturers and merchant API manufacturers. In 2019, the captive API manufacturers segment is expected to account for the largest share of the APIs market. This can be attributed to the fact that most big pharmaceutical companies possess their API manufacturing facilities and are vertically integrated across the pharmaceutical supply chain.
In 2019, North America is expected to dominate the market, followed by Europe. The major factors driving the overall growth of the APIs market in this region include the growing incidence of preventable chronic diseases, increasing government focus on generic drugs, rising demand for biologics and specialty drugs, and technological advancements in the manufacturing processes of APIs.
The global APIs market has several big players. The key players in the market are Pfizer, Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), Bristol-Myers Squibb (US), Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly and Company (US), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), AbbVie Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), and AstraZeneca plc (UK).
These players have adopted various growth strategies, such as partnerships, acquisitions, agreements, and collaborations as well as new product launches, to further expand their presence in the global market.
Acquisitions and collaborations have been the key growth strategies adopted by players from 2016 to 2018. Some of the leading players who adopted these strategies include Pfizer, Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), and Bristol-Myers Squibb (US).
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