Top Active Pharmaceutical Ingredients (API) Companies Worldwide (2023) | By IMARC Group

Active Pharmaceutical Ingredients (API) Market Outlook:

Active pharmaceutical ingredients (API) are the biological component of an over-the-counter (OTC) or prescription medication. They are characterized by biologically active elements that represent the primary ingredient in the manufacturing of numerous types of pharmaceutical drugs, which produce their intended health effects. Besides this, they also assist healthcare providers in recognizing the distinction between brand names and generic versions of medicines in order to avoid harmful interactions and accidental overdoses. Some of the popular APIs include metformin, amoxicillin, levothyroxine, gabapentin, atorvastatin, amlodipine, albuterol and fluoxetine. With the growing demand for effective pharmaceutical drugs and treatments among the masses, there has been a considerable increase in the overall API market.

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Active Pharmaceutical Ingredients (API) Market Growth Drivers and Key Players:

The global market is primarily driven by significant growth in the pharmaceutical industry. Along with this, the rising prevalence of numerous chronic diseases among individuals is acting as a major growth-inducing factor. Moreover, numerous leading players are heavily investing in extensive research and development (R&D) activities to introduce highly potent active pharmaceutical ingredients, in an attempt to strengthen their market position, further impacting the market. Apart from this, continual several key players are spending to upgrade their research centers and scientific laboratories on account of continual technological advancements are creating a positive market outlook. Other factors, including rapid urbanization, continuous developments in the field of biotechnology and life science and an increasing number of clinical trials, are also positively influencing the market.

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What is the value of the active pharmaceutical ingredient market?

The global active pharmaceutical ingredients (API) market size reached US$ 222.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 303.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.6% during 2023-2028.

Top 10 API Pharma Companies in World:

• Pfizer, Inc
• Novartis International AG
• Sanofi
• Boehringer Ingelheim
• Bristol-Myers Squibb
• Teva Pharmaceutical Industries Ltd. 
• Eli Lilly and Company
• GlaxoSmithKline
• Merck & Co., Inc.
• AbbVie Inc

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