Active Pharmaceutical Ingredient Market Segmentation:
Application (Cardiology, Oncology, Pulmonology, Neurology, Ophthalmology)
The global active pharmaceutical ingredient market is segmented and analyzed for demand and supply by application into cardiology, oncology, pulmonology, neurology, ophthalmology, and others. Amongst these segments, cardiology is anticipated to obtain the largest market share during the forecast period. The growth of the segment is ascribed to the higher prevalence of heart diseases, the increasing old population with high blood pressure, growing obesity, and cholesterol issues leading to surgeries or death in severe cases. For instance, approximately 600,000 people die due to heart disease per year solely in the USA. Furthermore, the surge in the number of cardiac arrest, usage of cardiacimplants and heart transplant procedures around the world which require surgical procedures also brings the need for active pharmaceutical ingredients which in turn is anticipated to fuel segment growth.
Synthesis Type (Biotech, Synthetic)
The global active pharmaceutical ingredient market is also segmented and analyzed for demand and supply by biotech and synthetic. Out of these, the synthetic segment is attributed to garnering the highest market share during the forecast period. Owing to the great advantages of synthetic active pharmaceutical ingredients including the low production cost of chemically synthesized ingredients coupled with the reduced cost of raw materials are considered to be major factors anticipated to impetus a significant revenue generation. Furthermore, the easy process of developing these synthetic active pharmaceutical ingredients is considered to be another growth factor for segment expansion in the upcoming years. On the other hand, the biotech segment is also projected to hold a significant market share by growing at a steady CAGR value. The main factor for segment growth is the escalation in the demand for biopharmaceuticals along with the increased number of innovations in biologics to address the unmet medical needs for diseases. Also, the biotech segment attracts big pharmaceutical enterprises and major key players owing to the increased number of FDI approvals for biological drugs and medicines including vaccines, blood components, and recombinantproteins. Hence, all the factors add up to propel segment growth.
Our in-depth analysis of the global active pharmaceutical ingredient market includes the following segments:
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By API Type |
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By Synthesis Type |
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By Application |
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