IMARC Group, a leading market research company, has recently releases report titled North America Active Pharmaceutical Ingredient Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028. The study provides a detailed analysis of the industry, including the North America active pharmaceutical ingredients market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the North America Active Pharmaceutical Ingredient Market?
The North America active pharmaceutical ingredients market is expected to exhibit a growth rate (CAGR) of 6.78% during 2023-2028.
What are Active Pharmaceutical Ingredient?
Active pharmaceutical ingredient (API)refers to the biologically/synthetic active component of a finished pharmaceutical product. Chemical synthesis, recombinant DNA, fermentation, isolation and recovery from natural sources are some of the common processes opted for API production. API in a drug is precisely used for curing, diagnosis, mitigation or prevention of human health issues. In addition to this, it has direct effect in restoring, correcting or modifying physiological functions of the body. On account of this, API has wide applications in the pharmaceuticals industry pertaining to oncology, central nervous system disorders, diabetes, neurological disorders, cardiovascular, respiratory disorders, etc.
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What are the growth prospects and trends in the Active Pharmaceutical Ingredient industry?
The North American active pharmaceutical ingredients market is currently being driven by several factors. Predominantly, the rising geriatric population and escalated exposure to chronic diseases such as cancer and diabetes have escalated the API demand in the region. Apart from this, the US Government has increased the overall healthcare expenditure propelling the market growth. Pharmaceutical manufacturers have increased the investments in RD for the development of better-quality APIs since it has a direct effect on the safety and efficacy of the drug. Moreover, technological advancements of new generation of APIs also represent an important factor driving the market growth in the region.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Drug Type:
- Innovative Active Pharmaceutical Ingredients
- Generic Active Pharmaceutical Ingredients
Breakup by Manufacturer Type:
- Captive Manufacturers
- Merchant API Manufacturers
Breakup by Synthesis Type:
- Synthetic Active Pharmaceutical Ingredients
- Biotech Active Pharmaceutical Ingredients
Breakup by Product and Expression System Type:
- Product Type
- Expression System Type
Breakup by Therapeutic Application:
- Oncology
- Cardiovascular and Respiratory
- Diabetes
- Central Nervous System Disorders
- Neurological Disorders
- Others
Breakup by Country:
- United States
- Canada
- Mexico
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