Northbrook, IL 60062 -- (SBWIRE) -- 12/21/2022 -- The Global research report "Active Pharmaceutical Ingredient Market by Product (EMR/EHR, VNA, RIS, LIS, PIS), Deployment (Private Cloud, Hybrid Cloud, Public Cloud), Component (Software, Services), Pricing (Spot Pricing), Service (SaaS, IaaS, PaaS), End User - Global Forecasts to 2027", published by MarketsandMarkets™, 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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Key Market Player

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.

Pfizer is one of the leading players in the APIs market. The leading position of the company is majorly attributed to its exhaustive product portfolio. The company has a strong brand image, which gives it a competitive edge over other players. In order to remain competitive and strengthen its market position, the company primarily adopts both organic and inorganic growth strategies such as agreements, partnerships, collaborations, product approvals, and acquisitions.

Novartis is another leading player in the APIs market. Its robust product portfolio strong brand recognition can be attributed for the leading position. The company invests a significant amount of its revenue in R&D activities for maintaining its vanguard. Owing to the focus on R&D activities, tha company is able to launch innovative and technologically advanced products in the market. Inorganic growth strategies are another focus area of Novartis to sustain its foothold in the market.

Sanofi is one of the top players in the global active pharmaceutical ingredients market. Apart from an exhaustive product portfolio the company also offers custom synthesis and API contract manufacturing services. The company manufactures APIs through its Sanofi Active Ingredient Solutions portfolio and practises various growth strategies to strengthen its position in the APIs market.

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Boehringer Ingelheim is one of the leading players in the global APIs market. The company's leading position in the APIs market can be attributed to its exhaustive product portfolio. The company develops innovative therapies to prolong patients' lives. Its Prescription Medicines segment develops and launches APIs. In order to remain competitive and further strengthen its market position, the company adopts and implements organic and inorganic growth strategies, such as agreements, partnerships, approvals, alliances, and collaborations.

Bristol-Myers Squibb is a prominent player in the APIs market and holds expertise in pharmaceutical ingredients. The company has a broad product portfolio in biologics, which serves as an important factor for its future growth, especially in the biopharmaceuticals market. In order to maintain its leadership position in the market, the company focuses on growth strategies, such as partnerships and expansions. The company develops and adopts new strategies by expanding its product pipeline. The company also focuses on collaborations, agreements, acquisitions, and approvals in order to meet the rising market demand.

"North America dominated the market in 2021."

In 2021, North America was expected to dominate the market, followed by Europe. Major factors driving the overall growth of the APIs market in this region include technological advancements in the manufacturing processes of APIs, the presence of major pharmaceutical & biopharmaceutical manufacturing facilities, and increasing government focus on generic drugs.

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