Market Research Report on India (API)
Market Research Report on India Active Pharmaceutical Ingredient (API) Market, Growth Rate, Covid-19 Impact, Economic Impact, Size, Share, Trend, Drivers, Competitive Landscape, Opportunity, Limitations, Technological Landscape, Regulatory Framework, PESTEL Analysis, PORTER’s Analysis, Forecast upto 2027
Market by Manufacturing Process (Captive Manufacturing, Contract Manufacturing), By Type of Synthesis (Synthetic, Biotech), By API Formulation (Generic API, Innovative API), By Application (Cardiovascular Disease & Hematopoietic System, Central Nervous System, Anti-infectives, Respiratory, Gastrointestinal Disorders, Urology, and Others and By Region (North India, South India, West India, and East India)
The India API Market is expected to Drive Owing to the R&D Activities and Surge in the Incidence of Chronic Disease
The India API market projected to reach USD 27.49 billion at a significant CAGR of over 10.23% during the forecasted period of 2020-2027. Due to the rising up gradation of technology across India and the growing incidence of hereditary cardiac disease, it is further projected to accelerate the API market at a significant rate across the country. Furthermore, the propelling focus on precision medicine is precited to accelerate the India active pharmaceutical ingredient market. Moreover, the use of drug development techniques focused on Artificial Intelligence further expected to boost the market.
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Additionally, strategic outsourcing enables enterprises to rely on their core competencies, contributing to improved efficiency, which is anticipated to fuel India’s API market. Furthermore, the rising demand for biosimilars across India is predicted to drive the market at a considerable rate.
However, the lack of skilled labor is predicted to challenge the growth of the market. Additionally, the increasing penetration of counterfeit drugs further projected to hinder the Indian market’s growth substantially.
Manufacturing Process Overview in the India API Market
Based on the manufacturing process, the India API market segregated into Captive Manufacturing and Contract Manufacturing. The Captive Manufacturing segment is predicted to hold the largest share during the forecasted period of 2020-2027 across the country. It is attributed to the proper manufacturing and strong capitalization of raw materials, which is estimated to boost the India API market significantly. In addition, manufacturing technologies favor in-house production of innovative products to take advantage of the economic opportunities and avoid the proliferation of technologies, which is further predicted to accelerate the market.
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Type of Synthesis Overview in the India API Market
Based on the type of synthesis, the India API market is segregated into Synthetic and Biotech. The biotech segment is estimated to have the fastest growth rate during the forecasted period of 2020-2027 owing to the propelling technological advancement in the manufacturing process. Additionally, the increasing demand for the therapeutic and diagnostic solution on Red Biotechnology concepts, recombinant, and DNA sequencing technology is anticipated to boost the market.
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API Formulation Overview in the India API Market
Based on the API Formulation, the India API market is categorized into Generic API and Innovative API. The Generic API segment is predicted to hold the largest share over the forecasted period of 2020-2027 across the country. It is attributed to the patent expiry of labeled molecules, which is expected to drive the market at a considerable growth rate. In addition, the decreased in the cost of the generic drug is further projected to fuel the India API market.
Related Market Research Report: – India Active Pharmaceutical Ingredient (API) Market
However, the Innovative API segment is estimated to have a significant growth rate during the forecasted period by 2027 due to the presence of favorable government regulations in the research and development of drugs.
Application Overview in the India API Market
Based on the Application, the India API market is classified into Anti-infectives, Cardiovascular and Hematopoietic System, Central nervous system, Respiratory, Gastrointestinal Disorders, Urology, and Others. The Cardiovascular and Hematopoietic System segment is expected to hold significant market share in API market over the forecasted period of 2020-2027 across the country due to the increasing prevalence of cardiovascular diseases coupled with the incidence surge of obesity. In addition, the variation in lifestyle has increased the incidence of obesity is further predicted to drive the segment’s market.
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However, the Central nervous system segment is expected to have a considerable growth rate during the forecasted period by 2027 across the country. It is due to the increasing emphasis on early diagnosis & treatment, which is predicted to fuel the market. Additionally, the growing prevalence of neurological diseases and rising funding for neurological diagnostics is estimated to improve the market significantly.
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Regional Overview in the India API Market
By geography, the India API market segmented into North India, South India, West India, and East India. The West India region is projected to hold the largest share during the forecasted period of 2020-2027 owing to technological advancement. In addition, rapidly evolving healthcare facilities and growing healthcare budgets are further anticipated to propel the India API market. Furthermore, the availability of affordable labor across the region is expected to accelerate the region’s market.
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India API Market: Competitive Landscape
Companies such as Dr. Reddy’s Laboratories Ltd., Aurobindo Pharma Limited, Cipla Limited, Sun Pharmaceutical Industries Limited, GlaxoSmithKline Pharmaceuticals Ltd, Indoco Remedies Ltd., Piramal Enterprises Ltd., Teva Pharmaceutical & Chemical Industries India Pvt. Ltd., Sri Krishna Pharmaceuticals Limited, Pan Drugs Limited, and Other Prominent Players are the key players in the India API market.
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