Dublin, Dec. 30, 2022 (GLOBE NEWSWIRE) -- The "Active Pharmaceutical Ingredient Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028: Segmented By Type of Synthesis, By Type of Manufacturer, By Route of Administration, By Route of Administration, By Therapeutic Application, By Region" report has been added to ResearchAndMarkets.com's offering.Global active pharmaceutical ingredient market is expected to undergo robust growth during the forecast period, 2024-2028. The high adoption rate of generic drugs and increasing demand for speciality medicines are bolstering the growth of the market. The expansion of biopharmaceutical sector along with development of new drugs using active pharmaceutical ingredients are expected to propel the growth of the market. Additionally, rising prevalence of chronic and infectious diseases such as cancer, diabetes, hepatitis A, influenza, among others are surging the market growth. There is a rise in number of people suffering from these diseases, due to which demand for API's are growing, which, in turn, propel the growth of the market globally. According to the WHO, Cancer is a prominent cause of death worldwide, accounting for approximately 10 million deaths in 2020. The most common cancer was breast cancer with 2.26 million new cases, and lung cancer with 2.21 million new cases.Moreover, rapid advancements in active pharmaceutical ingredient (API) manufacturing are supporting the market growth. The increasing cases of congenital heart diseases and obesity are also anticipated to drive the market growth through 2028. However, shortening the drug development time and reducing the cost of development are some key issues API manufacturers need to handle, otherwise, it may slow down the growth of the market.Global active pharmaceutical ingredient market is segmented into type of synthesis, type of manufacturer, route of administration, type of drug, therapeutic application and region. Based on type of manufacturer, the market is segmented into in-house and contract. Among them, the in-house manufacturer segment is expected to dominate the market during the forecast period as innovator companies are increasingly preferring in-house manufacturing to avail economic benefit and prevent technology leakage.Regionally, North America dominated the global active pharmaceutical ingredient market in 2022 and is further expected to continue its dominance during the forecast period. The presence of adequate manufacturing units and technological advancement in the region are acting as key growth drivers for the market.Major companies operating in global active pharmaceutical ingredient market include Teva Pharmaceutical Industries Ltd., Bristol-Myers Squibb Company, Boehringer Ingelheim GmbH, Merck & Co., Inc., GlaxoSmithKline Plc, Novartis International AG, F. Hoffmann-La Roche AG, Sanofi S.A., Eli Lilly and Company, and AbbVie Inc. The market players are investing on new product launches through extensive R&D activities. They are also undergoing partnerships, merger and collaborations to increase their share in global market.Report Scope:Global Active Pharmaceutical Ingredient Market, By Type of Synthesis: BiotechRecombinant ProteinsVaccinesMonoclonal AntibodiesFermentationPlant ExtractsSynthetic Global Active Pharmaceutical Ingredient Market, By Type of Manufacturer: In-houseContract Global Active Pharmaceutical Ingredient Market, By Route of Administration: OralInjectableTopical Global Active Pharmaceutical Ingredient Market, By Type of Drug: InnovativeGeneric Global Active Pharmaceutical Ingredient Market, By Therapeutic Application: Cardiovascular DiseaseOncologyNeurological DisordersOrthopedic DisordersRespiratoryGastrointestinal DisordersUrologyOthers Global Active Pharmaceutical Ingredient Market, By Region: Asia-PacificChinaJapanIndiaSouth KoreaAustraliaEurope & CISFranceGermanyUnited KingdomItalySpainNorth AmericaUnited StatesMexicoCanadaSouth AmericaBrazilColombiaArgentinaMiddle East & AfricaSouth AfricaSaudi ArabiaUAE Key Topics Covered: 1. Product Overview2. Research Methodology3. Executive Summary4. Voice of Customer5. Global Active Pharmaceutical Ingredient Market Outlook6. North America Active Pharmaceutical Ingredient Market Outlook7. Europe Active Pharmaceutical Ingredient Market Outlook8. Asia-Pacific Active Pharmaceutical Ingredient Market Outlook9. South America Active Pharmaceutical Ingredient Market Outlook10. Middle East and Africa Active Pharmaceutical Ingredient Market Outlook11. Market Dynamics12. Market Trends & Developments13. Competitive Landscape14. Strategic RecommendationsCompanies Mentioned Teva Pharmaceutical Industries Ltd.Bristol-Myers Squibb CompanyBoehringer Ingelheim GmbHMerck & Co., Inc.GlaxoSmithKline PlcNovartis International AGF. Hoffmann-La Roche AGSanofi S.A.Eli Lilly and CompanyAbbVie Inc For more information about this report visit https://www.researchandmarkets.com/r/lgbvts About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.