Global API Contract Manufacturing Market to be Driven by Reducing Cost of Production08 Mar 2016
A new market research report by Transparency Market Research presents a detailed analysis of the global API contract manufacturing market, focusing on the market’s overview, product segmentation, market drivers and barriers, market trends, major geographical segments, and the competitive analysis of the market. The research study, titled “API Contract Manufacturing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,” further comprises forecast statistics and historical data, coupled with strategic recommendations and valued inputs by industry experts to help the new as well as existing players in formulating their business strategies and policies effectively.
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In recent years, the global market for API contract manufacturing has witnessed rapid growth owing to the reducing investment costs. The easy availability of cheap labor in developing countries in Asia Pacific, better utilization of resources in developing regions, and easy access to new technologies in the market are some of the major factors that are expected to boost the demand for API contract manufacturing in the forecast period globally. In addition, the growing requirement to speed up the drug development procedure and a significant reduction in time-to-market are further estimated to fuel the growth of the global API contract manufacturing market in the next few years.
By geography, the global API contract manufacturing market has been divided into North America, Europe, Asia Pacific, and Rest of the World. Currently, the North America market leads the global API contract manufacturing market, as the U.S. market accounts for a 45% share in the overall market. The rapid growth of this region can be attributed to the growing demand for new bio-generic drugs, technological advancements that are encouraging the production of novel APIs, and reduced production cost of APIs. Asia Pacific is considered as one of the fastest growing and most lucrative regions in the overall API contract manufacturing market.
India and China are estimated to become the most lucrative national markets for outsourcing of contract manufacturing, owing to the higher costs related to the manufacture of APIs in Western nations. Moreover, as per the research study, India and China presently supply over 40% of APIs that are being used in the U.S., which is estimated to increase to 80% in the next ten years.
In the last section of the research study, the competitive landscape of the global API contract manufacturing market has been presented. The analysis provides insights into the major companies, including inception details, contact information, products offered, financial overview, business policies, and recent developments such as mergers and acquisitions if any. Some of the prominent players operating in the global API contract manufacturing market are Novartis International AG, Piramal Pharma Solutions, Sandoz-Lek-Biochemie, Merck & Co., Inc., Boehringer Ingelhein GmbH, Teva Pharmaceuticals Industries, Sun Pharmaceutical Industries, Ranbaxy Laboratories Ltd., GlaxoSmithKline Pharmaceuticals, AstraZeneca, and Dr. Reddy's Laboratories.
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