The North America active pharmaceutical ingredients market reached a value of US$ 64.9 Billion in 2018. 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.
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 R&D 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. Looking forward, IMARC Group expects the market to reach a value of US$ 85.6 Billion by 2024, registering a CAGR of more than 4% during 2019-2024.
Key Questions Answered in This Report:
IMARC Group’s latest report provides a deep insight into the North America active pharmaceutical ingredients market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the North America active pharmaceutical ingredients market in any manner.
Report Customization: Although IMARC has tried to cover everything in the North America active pharmaceutical ingredients market landscape, we believe that every stakeholder may have their own specific needs. In view of this, we provide up to 20-man hours of free customization for each report.
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