India Active Pharmaceutical Ingredients Market to Grow at a CAGR of 12.24% During the Forecast Period
Increasing incidence of
chronic diseases is expected to drive the growth of India Active Pharmaceutical
Ingredients market during the forecast period.
According
to TechSci Research report, “India
Active Pharmaceutical Ingredients Market By Method of Synthesis (Synthetic
v/s Biological), By Source (Contact Manufacturing Organizations v/s In-house Manufacturing),
By Therapeutic Application (Cardiovascular Diseases, Anti-diabetic Drugs,
Oncology Drugs, Neurological Disorders, Musculoskeletal Disorders, Others), By
Drug Type (Generics v/s Innovator), By Region, Competition Forecast &
Opportunities, FY2027F”, India active pharmaceutical Ingredients market
stood at USD11806.93 million in FY2021 and is expected to grow at a formidable
rate of 12.24% during the forecast period owing to improvement in healthcare
infrastructure coupled with continuous advancements in active pharmaceutical
ingredients (API) manufacturing. However, there are some challenges that hinder
the growth of active pharmaceutical market such as unfavorable drug price
control policies across various nations and high manufacturing costs and
regulatory stringencies.
Browse 21 Figures spread through 70 Pages and an in-depth TOC on " India Active Pharmaceutical Ingredients Market"
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The India active pharmaceutical
ingredients market is segmented based on method of synthesis, source,
therapeutic application, drug type, company, and region. Based on source, the market can be further categorized
into in-house v/s contract manufacturing organizations. The contract
manufacturing segment dominated the market with 70.20% share in FY2021 as most
of the leading companies give license to smaller companies for manufacturing
the drugs which allows them to meet the demands of the market. Furthermore, it allows
them to focus more on research and development of new drugs. Contract
manufacturing organizations also save cost and maximizes profit. Rising number
of contract manufacturers will contribute to the growth of contract
manufacturing organizations segment during the forecast period at a CAGR of
12.77%.
Teva API India Limited, Pfizer
Ltd., Ipca Laboratories Limited, Dr. Reddy’s Laboratories Ltd., Sun
Pharmaceutical Industries Limited, Cipla Limited, Lupin Limited, Aurobindo
Pharma Limited, Aarti Drugs Ltd., IOL Chemicals and Pharmaceuticals Limited,
Divis Laboratories Ltd., Granules India Limited, Laurus Labs Ltd., Solara
Active Pharma Sciences, GlaxoSmithKline Pharmaceuticals Ltd, and others are
some of the major players operating in the India active pharmaceutical
ingredients market. Major companies are developing advanced technologies,
receiving approvals from regulatory bodies, and launching new products to stay
competitive in the market. Other inorganic growth strategies include mergers
& acquisitions, research collaborations, joint ventures, and new product
developments to sustain themselves amidst fierce competition. Many companies
have applied for Production Linked Incentive Scheme for manufacturing active
pharmaceutical ingredients. Which will provide incentives and profits to the
companies. RMC Performance Chemicals Private
Limited has got approval for production of active pharmaceutical ingredient via
Production Linked Incentive Scheme with a capacity of 15000MT of Aspirin.
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“India Active Pharmaceutical Ingredients
market is expected to grow at robust rate during the forecast period which is attributable
to increasing uptake of biopharmaceuticals. Additionally, major market players
are focusing on strategic collaborations to commercialize their newly developed
drugs. This is further expected to create lucrative opportunities for the
market growth of India Active Pharmaceutical Ingredients market over the next
five years.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global
management consulting firm.
“India Active Pharmaceutical Ingredients Market By
Method of Synthesis (Synthetic v/s Biological), By Source (Contact
Manufacturing Organizations v/s In-house Manufacturing), By Therapeutic
Application (Cardiovascular Diseases, Anti-diabetic Drugs, Oncology Drugs,
Neurological Disorders, Musculoskeletal Disorders, Others), By Drug Type
(Generics v/s Innovator), By Region, Competition Forecast & Opportunities,
FY2027F”, has
evaluated the future growth potential of India active pharmaceutical
ingredients market and provides statistics & 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 India active pharmaceutical
ingredients market.
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