Active Pharmaceutical Ingredients Market to Reach US$185.9 billion by 2020

Study by Transparency Market Research concludes

19-Oct-2015 - USA

According to market study published by Transparency Market Research (TMR), the global active pharmaceutical ingredients (API) market stood at US$119.7 billion in 2013. Aided by the increasing abbreviated new drug applications (ANDA), which has fueled the demand for APIs extensively, the global market is projected to expand at a CAGR of 6.50% over the period from 2014 to 2020.

The report, titled “Active Pharmaceutical Ingredients (API) Market: (Branded/Generic/Over-the-counter, Chemical/Biological, Captive/Contract Manufactured, by Geography, and by Therapeutic Area) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”, determines that the global API market is likely to reach a value of US$185.9 billion by the end of the forecast period.

By type of manufacturing, the captive API manufacturing market dominates the global market. However, the API contract manufacturing market is likely to surpass the former over the forecast period.

Based on drugs, the report projects the market for oncology drugs to post the fastest growth rate during the period of forecast.

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