Active Pharmaceutical Ingredients Market to touch US$119.7 Billion by 2020: Transparency Market Research

According to the latest Transparency Market Research report the global active pharmaceuticals ingredients (APIs) market stood at US$119.7 bn in 2014 and is predicted to reach US$185.9 bn by 2020.
According to the research:

It is expected to expand at a CAGR of 6.50% from 2014 to 2020. The title of the report is “Active Pharmaceutical Ingredients (API) Market: (Branded/Generic/Over-the-counter, Chemical/Biological, Captive/Contract Manufactured, by Geography, and by Therapeutic Area) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”.
The global pharmaceutical industry has suffered enormously due to patent expiry of blockbuster drugs in the past few years. However, this has facilitated a surge in the demand for low-cost substitutes across the globe resulting in a boost to active pharmaceutical ingredient (API) manufacturing. The approvals of biosimilars in Europe has added to the total API market revenue, and the recent approval of Novartis’ filgrastim biosimilar in the U.S. is expected to continue the upward trend in this market. The overall global active pharmaceutical ingredients market was valued at USD 119.7 billion in 2013 and is anticipated to reach USD 185.9 billion by 2020, expanding at a CAGR of 6.5% during the forecast period from 2014 to 2020.

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