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A recent report published by Infinium Global Research on BRICS active pharmaceutical ingredients market provides an in-depth analysis of segments and sub-segments in the BRICS as well as regional BRICS active pharmaceutical ingredients market. The study also highlights the impact of drivers, restraints, and macro indicators on the BRICS and regional BRICS active pharmaceutical ingredients market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the BRICS active pharmaceutical ingredients market. According to the report, the BRICS active pharmaceutical ingredients market is projected to grow at a CAGR of 4.3% over the forecast period of 2021-2027, growing from nearly USD 65.8 billion in 2020 to about USD 86.9 billion in 2027.
Active pharmaceutical ingredients
(API) are the component of drugs that are chemically, and biologically active,
and they directly act on diseases. A wide range of ingredients is included in
the drugs, each with its unique purpose. The ingredients that actually work in
treating the condition are known as active pharmaceutical ingredients (API).
Many drugs contain multiple APIs, depending on their application. The reaction
or response to any particular drug depends on the dosage prescribed, which
varies from person to person. The function of the API is not limited to
treatment or cure of the disease alone. They are also used for the diagnosis or
prevention of diseases at times. The API market in BRICS is dominated by the
leading global players. Moreover, the market players are investing heavily in
R&D activities to develop new APIs and efficient manufacturing processes.
The COVID-19 pandemic has had a
fairly positive impact on the API market. The healthcare industry used various
drugs including remdesivir, Dexamethasone, and other antiviral medications to
treat COVID patients and relieve the symptoms. COVID-19 led to growth in the
sale of these drugs, and subsequently drove the growth of API. Moreover, the
market players ramped up the production of APIs to keep up with the demand.
Many leading players stopped the production of APIs for other health conditions
and focused their resources on COVID-19 medication. This, in turn, further
augmented the growth of the market during the pandemic. Furthermore, the
governments across BRIC eased the drug approvals during the pandemic to combat
the infection. This offered growth opportunities in the market. In addition,
the market is expected to grow over the forecast period, as the governments
kept the emergency reserves for future outbreaks.
The major factors driving the
active pharmaceutical ingredients market are the growing prevalence of chronic
diseases and advancements in API manufacturing. Chronic disorders such as
cardiovascular diseases, kidney diseases, and cancers are prevalent across the BRICS.
The demand for APIs used in the drugs to treat such chronic diseases increases
with their prevalence. Moreover, favorable government policies for the
development and manufacturing of APIs are likely to boost the market for active
pharmaceutical ingredients in BRICS. The government policies support the local
manufacturing of drugs to meet the healthcare demand of civilians. However, the
high manufacturing cost of APIs is majorly restraining the growth of the active
pharmaceutical ingredients industry in BRICS. Production of API requires
sophisticated equipment and decontaminated environment, which increases the
cost of production. Furthermore, innovations in biosimilars offer growth
opportunities in the active pharmaceutical ingredients market.
In terms of countries, India
dominated the BRIC active pharmaceutical ingredients market. Factors such as
the high prevalence of chronic diseases, medical insurance support for drugs
are expected to drive the growth of the active pharmaceutical ingredients
market in India. Moreover, increasing government and private expenditure to
boost the production of active pharmaceutical ingredients is anticipated to
further augment the market growth in the country. On the other hand, the active
pharmaceutical ingredients market in China is expected to grow at the fastest
rate among other regions. This is mainly attributed to the improving economic
conditions and healthcare infrastructure.
The report on BRICS active pharmaceutical
ingredients market covers segments such as API type, drug type, and
application. On the basis of API type, the sub-markets include chemical API,
and biological API. On the basis of drug type, the sub-markets include generic
prescription drugs, and OTC prescription drugs. On the basis of application,
the sub-markets include cardiovascular disease, oncology, CNS and neurological
disorders, orthopedic disorders, endocrinology, gastrointestinal disorders,
ophthalmology, pulmonology, and others.
The report provides profiles of
the companies in the market such as Divi's Laboratories Limited, Nanjing
Pharmaceutical Factory Co. Ltd., Blanver EN, Active Component JSC, Taj Ando
Pharmaceuticals, Zhejiang Hisun Pharmaceutical Co. Ltd., Baltpharma,
Granules India Limited, Libbs Farmaceutica Ltda, and Northeast Pharmaceutical
Group Co., Ltd ( NEPG ).
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of BRICS active pharmaceutical ingredients market. Moreover, the study
highlights current market trends and provides forecast from 2021-2027. We also
have highlighted future trends in the market that will affect the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
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