Active Pharmaceutical Ingredients Market Analysis, Size, Growth, Share & Forecast to 2027 | Grand View Research Inc.
“Active Pharmaceutical Ingredients Market Worth $286.6 Billion By 2027”
The global active pharmaceutical ingredient market size is expected to reach a value of USD 286.6 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 6.7% over the forecast period. Factors, such as increasing preference for outsourcing APIs and growing prevalence of various target diseases such as cancer and Cardiovascular Diseases (CVDs) are expected to drive the market growth. A steady rise in consumer demand for APIs, especially in developing and under-developed countries, increases the adoption of these products. In addition, strategic collaborations play a key role in the adoption of these ingredients in various regions. For instance, in February 2019, Cipla Inc. partnered with Wellthy Therapeutics Private Limited to combine digital therapeutics and pharmacotherapy for better patient outcomes in cardiovascular diseases and diabetes. Private and public initiatives to manufacture active pharmaceutical ingredients within their countries, especially in developing countries such as India, is expected to drive the growth of the market. For instance, API production in India is promoted under the “Make in India” initiative. Presence of prominent players and increasing government initiatives for the development of pharmaceuticals in various regions are also expected to boost the market growth. Increasing consumer awareness and demand for economical and effective treatment strategies, especially in Asia Pacific and Middle East and Africa, are driving the sales channels. In addition, high adoption and growing usage of online pharmacies are likely to drive the e-commerce sales of APIs.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/active-pharmaceuticalingredients-market
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