United States Active Pharmaceutical Ingredient Market to Grow at an Impressive Rate of 9.73% through 2026
The growing uptake of
biopharmaceuticals is expected to drive United States active pharmaceutical
ingredient market through 2026
According
to TechSci Research report, “United States Active Pharmaceutical
Ingredient Market By Method of Synthesis (Biological v/s.
Synthetic), By Source (In-house v/s Contract Manufacturing Organizations), By Distribution
Channel (Online v/s Offline), By Therapeutic Application (Cardiovascular
Disease, Anti-diabetic, Oncology, Neurological Disorders, Musculoskeletal,
Others), By Form (Tablet, Capsule, Injection, Others), By Molecule Type (Small
v/s Large), By Potency (High v/s Low), By Drug Type (Innovator v/s Generic), By
Region, Competition Forecast & Opportunities, 2016 – 2026”, the United
States active pharmaceutical ingredient market stood at USD17.81 billion
in 2020 and is projected to grow at a CAGR of 9.73% to cross USD31.48 billion
by 2026. This can be accredited to the growing geriatric population across the
country which is susceptible to various chronic and infectious diseases.
Additionally, the sudden outbreak and spread of COVID-19 pandemic has increased
the demand for drug discovery, vaccines, among others to fight against the pandemic
and other infectious diseases. This in turn is expected to positively influence
the market growth through 2026. Also, growing prevalence of hospital acquired
infections and advances in manufacturing techniques related to active
pharmaceutical ingredients is further expected to fuel the market growth over
the next few years. The increasing prescription drugs expenditure in the United
States is further expected to spur the market growth.
However, high manufacturing costs associated with
active pharmaceutical ingredients can hamper the market growth over the next
few years. Moreover, quality concerns associated with the active pharmaceutical
ingredients manufactured through contract manufacturers can further restrict
the market growth.
Browse 30 Figures spread through 70 Pages and an in-depth TOC on "US Active
Pharmaceutical Ingredient Market"
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The United States active pharmaceutical
ingredient market is segmented based on method of synthesis, source,
distribution channel, therapeutic application, form, molecule type, potency,
drug type, region, and company. Based on therapeutic application, the market
can be categorized into cardiovascular disease, anti-diabetic, oncology,
neurological disorders, musculoskeletal and others. The cardiovascular disease
segment dominated the market in 2020 with a share of 24.56% owing to the
growing prevalence of various cardiovascular diseases in the country. Based on
drug type, the market can be bifurcated into innovator and generics. The
innovator medicine segment dominated the market with a share of around 55.30%
in 2020 owing to the increasing research and development activities by major
biopharmaceutical companies for the development of new drugs. Additionally, the
outbreak of pandemic COVID-19 has increased the need for the development of new
drugs.
Teva
Pharmaceutical Industries Limited, Merck & Co., Inc., Pfizer Inc., Dr.
Reddy’s Laboratories Limited, Lupin Pharmaceuticals, Inc., Glenmark
Pharmaceuticals, Inc., GlaxoSmithKline Plc, Novartis Inc. (Sandoz), Aurobindo
Pharma USA, Inc., Sun Pharmaceutical Industries Ltd., Eli Lilly and Company, AbbVie
Inc., Bristol-Myers Squibb, F. Hoffmann-La Roche Ltd., Sanofi-Aventis U.S. LLC and others are some of the
leading players operating in the United States active pharmaceutical ingredient
market.
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“United
States active pharmaceutical ingredient market is expected to witness
significant growth of around 9.73% during the forecast period, owing to the increasing
inhouse manufacturing of active pharmaceutical ingredient in the country.
Additionally, the emergence of biosimilars is further expected to fuel the
market growth through 2026. Furthermore, increasing government focus on generic
drugs is expected to create lucrative opportunities for the market over the
next few years.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“United States Active Pharmaceutical Ingredient Market
By Method of Synthesis (Biological v/s. Synthetic), By Source (In-house v/s
Contract Manufacturing Organizations), By Distribution Channel (Online v/s
Offline), By Therapeutic Application (Cardiovascular Disease, Anti-diabetic,
Oncology, Neurological Disorders, Musculoskeletal, Others), By Form (Tablet,
Capsule, Injection, Others), By Molecule Type (Small v/s Large), By Potency
(High v/s Low), By Drug Type (Innovator v/s Generic), By Region, Competition
Forecast & Opportunities, 2016 – 2026” has evaluated
the future growth potential of the United States active pharmaceutical
ingredient market and provides statistics and information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in the United States active
pharmaceutical ingredient market.
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