According to the research report titled ‘Active Pharmaceutical Ingredient (API) Market Share, Size, Trends, Industry Analysis Report, By Product Type; By Form; By Manufacturer Type; By Application; By Regions; Segment Forecast, 2020 – 2027’, available with Market Study Report, global active pharmaceutical ingredient (API) market is estimated to reach a valuation of USD 306.1 billion by the year 2027.
 

Increased pervasiveness of AIDS, cancer, oncology, diabetes, lifestyle-related and cardiovascular diseases in tandem with growing aging population are key factors driving the growth of global active pharmaceutical ingredient market.
 

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The unexpected outbreak of COVID-19 virus has impelled the demand for various pharmaceutical products, which in turn is further aiding the overall market expansion.
 

For those uninitiated, API (active pharmaceutical ingredient) is a substance that is used in finished pharmaceutical products in order to improve its pharmacological activity as well as to have a direct effect in curing, mitigating, diagnosing, and treating disease.
 

API products also helps in restoring, correcting, modifying the physiological functions in the body, thereby adding traction to global active pharmaceutical ingredient industry growth.
 

Based on product landscape, the market is segmented into HPAPI (highly potent active pharmaceutical ingredient), small molecule antibiotics, vaccines, peptide antibiotics, blood factors, peptide hormones, insulin, cytokines, immunoglobulin, mAb and others.
 

Moving on to form type, worldwide active pharmaceutical ingredient industry is bifurcated into dry powder, non-aqueous liquid and aqueous segments. In terms of manufacturer type, the market is classified into merchant and captive.
 

The application landscape of global active pharmaceutical ingredient industry consists of ophthalmology, nephrology, gastroenterology, pulmonology, endocrinology, orthopedic, CNS & neurology, oncology, cardiology and others.
 

From the regional point of view, the market is split into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America with primary focus on countries such as Argentina, Mexico, South Africa, Israel, Saudi Arabia, UAE, South Korea, Indonesia, Japan, Malaysia, India, China, Japan, Austria, Netherlands, Spain, Italy, Germany, France, U.K., Canada, and the U.S.
 

The major companies operating in global active pharmaceutical ingredients market are Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Pfizer Inc., Sanofi S.A., Novartis AG, Mylan N.V., Lonza Group AG, GlaxoSmithKline plc, F. Hoffmann-La Roche AG, Eli Lilly & Co., Dr. Reddy’s Laboratories Ltd., Bristol-Myers Squibb, Boehringer Ingelheim, Aurobindo Pharma, AstraZeneca plc, Albemarle Corp., and AbbVie Inc. among others.