Northbrook, IL 60062 -- (SBWIRE) -- 06/14/2023 -- The global Active Pharmaceutical Ingredient (API) Market is estimated to reach USD 216.4 billion by 2027 from USD 145.9 billion in 2022, at a CAGR of 8.2% during the forecast period. Factors such as technological advancement in APIs manufacturing, the growing importance of generics, and the increasing uptake of biopharmaceuticals are some of the major factors driving the growth of the global APIs market.

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Top Key Players:
The global APIs (Active Pharmaceutical Ingredient) 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), AstraZeneca (UK), Cipla, Inc. (India), Mylan N.V. (US), Dr. Reddy's Laboratories Ltd. (India), Sun Pharmaceutical Industries Ltd. (India), API Pharma Tech (India), BDR Pharmaceuticals Internationals Pvt. Ltd. (India), Sreepathi Pharmaceuticals Limited (India), Shilpa Medicare Limited (India), Evonik Industries AG (Germany), and Aurobindo Pharma Limited (India). These players have adopted various growth strategies, such as partnerships, acquisitions, agreements, collaborations, and product launches, to further expand their presence in the global market.

Driver: Focus on precision medicine

Precision medicine considers the variability in the environment, genes, and lifestyle of each individual. With this approach, predicting prevention and treatment strategies for a particular disease in particular groups of people has become more accurate. The approach ensures that the therapeutic or preventive interventions are directed to patients in such a way that benefits are maximized and cost and complications are minimized.
Precision medicine is gaining increasing recognition from clinicians, healthcare systems, pharmaceutical companies, patients, and governments. Advances in precision medicine have already led to powerful discoveries and several new FDA-approved treatments that are tailored to the specific characteristics of individuals. Realizing the potential of precision medicine, in 2018, the US government launched the All of US research program to enroll 1 million or more volunteers and oversample communities that are underrepresented in research. The program will focus on finding breakthroughs in the field of precision medicine. The HHS Health Resources and Services Administration (HRSA) also awarded USD 21 million to 46 community health centers to support their participation in the program.

Under the focus area of precision medicine, oncology comes out at the top amongst all therapeutic areas. The objective while conducting clinical trials for such innovative drugs is to generate pharmacologically effective drug concentrations at the disease site while keeping minimal drug concentrations in rest of the body.

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TABLE OF CONTENTS:

1 INTRODUCTION (Page No. - 48)

1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
1.4 CURRENCY
1.5 LIMITATIONS

2 RESEARCH METHODOLOGY (Page No. - 52)

2.1 RESEARCH DATA
2.2 MARKET SIZE ESTIMATION
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
2.4 MARKET SHARE ESTIMATION
2.5 ASSUMPTIONS

3 EXECUTIVE SUMMARY (Page No. - 60)

4 PREMIUM INSIGHTS (Page No. - 65)

5 MARKET OVERVIEW (Page No. - 68)

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