Active Pharmaceutical Ingredient/ API Market

Pfizer, Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), and Bristol-Myers Squibb (US) are leading players in Active Pharmaceutical Ingredient/API Market

The global APIs market is estimated to reach USD 245.2 billion by 2024 from USD 182.2 billion in 2019, at a CAGR of 6.1% during the forecast period. The increasing incidence of chronic diseases, growing importance of generics, and the increasing uptake of biopharmaceuticals are some of the major factors driving the growth of the global APIs market. On the other hand, the unfavorable drug price control policies across various countries and the increasing penetration of counterfeit drugs are expected to restrain the growth of this market in the coming years.

The global APIs market has several big players. The key players in the market are Pfizer, Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), Bristol-Myers Squibb (US), Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly and Company (US), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), AbbVie Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), and AstraZeneca plc (UK). These players have adopted various growth strategies, such as partnerships, acquisitions, agreements, and collaborations as well as new product launches, to further expand their presence in the global market.

Acquisitions and collaborations have been the key growth strategies adopted by players from 2016 to 2018. Some of the leading players who adopted these strategies include Pfizer, Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), and Bristol-Myers Squibb (US).

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Pfizer is one of the leading players in the APIs market. The leading position of the company is majorly attributed to its exhaustive product portfolio. The company has a strong brand image, which gives it a competitive edge over other players. In order to remain competitive and strengthen its market position, the company primarily focuses on adopting both organic and inorganic growth strategies such as agreements, partnerships, collaborations, product approvals, and acquisitions. In accordance with this, in June 2016, Pfizer acquired Anacor Pharmaceuticals, Inc. (US), a leading biopharmaceutical company developing small molecule therapeutics.

Novartis is another leading player in the APIs market. Its leading position can be attributed to its strong brand recognition and robust product portfolio. In order to maintain its leading position, the company invests a significant amount of its revenue in R&D activities. The significant investment in R&D enables the company to launch innovative and technologically advanced products in the market. Novartis also focuses on inorganic growth strategies to sustain its foothold in the market. For instance, in June 2016, Novartis entered into a licensing and collaboration agreement with Xencor (US), a biopharmaceutical company that develops engineered monoclonal antibodies. The purpose of this agreement was to develop bispecific antibodies for treating cancer.

Sanofi is one of the top players in the global APIs market. The leading position of the company is majorly attributed to its exhaustive product portfolio. The company manufactures APIs through its Sanofi Active Ingredient Solutions portfolio, which provides custom synthesis and API contract manufacturing services. The company pursues various growth strategies to strengthen its position in the APIs market. For instance, in July 2016, Sanofi Pasteur, a business unit of Sanofi, entered into an agreement with the Walter Reed Army Institute of Research (WRAIR) (US) to develop the Zika vaccine.

Boehringer Ingelheim is one of the leading players in the global APIs market. Boehringer Ingelheim’s leading position in the APIs market can be attributed to its exhaustive product portfolio. The company is focused on developing innovative therapies to prolong patient’s lives. Its Prescription Medicines segment is engaged in the development and launch of APIs. In order to remain competitive and further strengthen its market position, the company adopts and implements organic and inorganic growth strategies, such as agreements, partnerships, approvals, alliances, and collaborations. In accordance with this, in April 2018, Boehringer Ingelheim collaborated with OSE Immunotherapeutics (France) to jointly develop OSE-172, a SIRP-alpha antagonist targeting myeloid lineage cells to treat cancer. Such initiatives help the company to maintain its market share and remain competitive in the APIs market.

Bristol-Myers Squibb is a prominent player in the APIs market and holds expertise in the area of pharmaceutical ingredients. The company has a broad product portfolio in biologics, which serves as an important factor for its future growth, especially in the biopharmaceuticals market. In order to maintain its leadership position in the market, the company focuses on growth strategies, such as partnerships and expansions. The company is focused towards developing and adopting new strategies by expanding its product pipeline. The company also focuses on collaborations, agreements, acquisitions, and approvals in order to meet the rising market demand. For instance, in April 2018, Bristol-Myers Squibb collaborated with Janssen Pharmaceuticals, Inc. (Belgium) to develop and commercialize Bristol Myers Squibb’s Factor XIa (FXIa) inhibitor, BMS-986177, an investigational anticoagulant compound for the prevention and treatment of thrombotic conditions.

Related Reports:

Active Pharmaceutical Ingredient/API Market by Type (Innovative, Generic), Manufacturer (Captive, Merchant), Synthesis (Synthetic, Biotech), Product (mAb, Hormone, Biosimilar) Drug (OTC, Rx), Therapy, and Region - Global Forecast to 2024

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Report Code
PH 1262
RI Published ON
1/7/2019
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