2013-08-16 13:40:39 - The global Active Pharmaceutical Ingredients (API) market is anticipated to see good growth, with highly variable growth rates across geographies, says RNCOS.
The global Active Pharmaceutical Ingredients (API) market is in turmoil. In 2012, the global market for Active Pharmaceutical Ingredients stood at US$ 113 Billion. In the next 5 years, it is expected to witness good growth, with highly variable growth rates across geographies. While it is expected to grow at high double-digit growth rates in India and China, EU is expected to register a CAGR of just around 6% during the 2012-2017. Growth in the US API industry will also be moderate and propelled more by the rise in revenue from specialty drugs.
Highlighting the huge opportunities in the Multi Billion dollar market, Shushmul Maheshwari, CEO - RNCOS said that constricting healthcare budgets are straining the margins of players, who are
devising peculiar counter strategies and innovative business models. This has led to a change in the whole market landscape from western players outsourcing their initial processes and in some cases, the whole API manufacturing process to facilities based in Asian region. He also mentioned that growth potential lies particularly in orphan drugs generics which provide unique market environment, ideal for making sustainable growth.
Since the last decade, India and China have been the destination of choice for manufacturing of APIs due to their ability to provide labor at lower wages than that available in developed nations. But, of late, wages in India and China are rising. This has led a few western players to popularize the opinion that they might re-think of bringing their API manufacturing back to their bases. All these speculations and activities in the industry have been discussed in the white paper with useful insights that will give reader, the latest status of the dynamically evolving industry.
With over a decade of experience in providing business solutions/ market research and consultancy, RNCOS acts a growth partner to venture into and understand business environment better by providing solutions in all the business endeavors of our customers, be it product launching, geographic expansion, sales improvement, distributor/retailer tie-ups etc. We help the business prosper by providing our customers with actionable market intelligence and insights by studying the market dynamics, collating with the business and devising the right strategies.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.