The global active pharmaceutical ingredient (API) market is expected to grow at a CAGR of more than 8.0% from 2014 to 2019, according to Research and Markets.1 Factors such as expiry of patented drugs and the shift towards the use of lower cost API drugs due to economic recession are driving growth in the API market. In addition, the rising use of highly potent actives in targeted therapies is boosting growth. However, the market faces challenges of transparency and increased market fragmentation, the report says.
North America still accounts for the largest share of the API market, followed by the Asia-Pacific sector, then Europe, but Asia is growing at the highest CAGR, according to the report. Key players in the API market include Sandoz-Lek-Biochemie (Switzerland), GlaxoSmithKline Pharmaceuticals (India), AstraZeneca (UK), Novartis (Switzerland), Pfizer (US) and F. Hoffmann-La Roche (Switzerland).
The report also estimates that US demand for excipients will rise 4.3% p.a. to US$2bn in 2018. In volume terms, demand is expected to grow 1.9% annually to 900 million lbs over the same period. While continued growth in pharmaceutical output will be the primary driver of increases in excipient demand, gains will accelerate as excipients play a larger role in bringing additional value to products by enhancing properties such as controlled release or the improved absorption of APIs.
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