lobal India Active Pharmaceutical Ingredients Market Is Estimated To Witness High Growth Owing To Increasing Demand For Affordable Medicines

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Global India Active Pharmaceutical Ingredients
Market Is Estimated To Witness High Growth Owing
To Increasing Demand For Affordable Medicines
The global India Active Pharmaceutical
Ingredients (API) market is estimated to be
valued at US 19,993.2 Mn in 2021 and is
expected to exhibit a CAGR of 8.3 over the
forecast period of 2021- 2028, as highlighted in
a new report published by Coherent Market
Insights. With the growing demand for affordable
medicines, the market is witnessing significant
growth. A) Market Overview The India Active
Pharmaceutical Ingredients market refers to the
production and supply of pharmaceutical
ingredients used in the formulation of various
drugs and medicines. These APIs are the active
substances that are responsible for the
therapeutic effects of pharmaceutical products.
They are the essential components that
contribute to the desired medical outcomes. The
market caters to various therapeutic areas such
as cardiovascular, respiratory, gastrointestinal,
neurological, and oncology. The need for
pharmaceutical ingredients arises due to the
increasing burden of diseases, a growing aging
population, and rising healthcare expenses. By
producing API locally, India aims to reduce its
dependency on imports and provide affordable
drugs to its population. The market offers
various advantages such as cost-effectiveness,
high-quality products, and a wide range of
therapeutic options. B) Market Key Trends One
key trend in the India Active Pharmaceutical
Ingredients market is increasing outsourcing
activities by global pharmaceutical companies.
Many multinational pharmaceutical companies are
outsourcing their API manufacturing to Indian
companies due to cost advantages and expertise in
generic drug manufacturing. This trend is driven
by factors such as cost reduction, focus on core
competencies, and access to advanced
manufacturing technologies.
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For example, Teva Pharmaceutical Industries
Ltd., one of the leading generics manufacturers,
has partnered with India Active Pharmaceutical
Ingredients Market to leverage their expertise
and cost-effective manufacturing capabilities.
This outsourcing trend allows pharmaceutical
companies to reduce manufacturing costs,
streamline their supply chains, and focus on
research and development activities. C) PEST
Analysis Political The Indian government has
been taking initiatives to promote the
manufacturing of APIs domestically and reduce
dependence on imports. It aims to make India
self-reliant in pharmaceutical production and
ensure the availability of affordable medicines
to its population. The government has introduced
policies and incentives to attract investments in
the pharmaceutical sector. Economic The Indian
API market is driven by economic factors such as
the rising healthcare expenditure, increasing
burden of diseases, and growing demand for
generic medicines. The cost advantages offered
by Indian manufacturers make it an attractive
destination for outsourcing API manufacturing.
Social The social factors contributing to the
growth of the Indian API market include the
increasing awareness about healthcare, a growing
aging population, and the need for affordable
medicines. The Indian population's demand for
quality healthcare services is driving the demand
for pharmaceutical ingredients. Technological
Technological advancements in API manufacturing
processes and the adoption of advanced
manufacturing technologies have helped Indian
manufacturers improve the quality and efficiency
of their products. The use of innovative
technologies has enabled cost-effective
manufacturing and enhanced competitiveness in
the global market. D) Key Takeaways - The
global India Active Pharmaceutical Ingredients
market is expected to witness high growth,
exhibiting a CAGR of 8.3 over the forecast
period, due to increasing demand for affordable
medicines. - The Asia-Pacific region is
expected to be the fastest-growing and dominating
region in the market, driven by factors such as
low production costs, favorable government
policies, and increasing investments in the
pharmaceutical sector. - Key players operating
in the global India Active Pharmaceutical
Ingredients market include Teva Pharmaceutical
Industries Ltd., Salora, Aurobindo Pharma
Limited, Dr. Reddy's Laboratories, Lupin
Limited, Sun Pharmaceutical Industries Limited,
Divis Laboratories Ltd., Aarti Drugs Ltd., Hikal
Ltd., Neuland Labs, Century Pharmaceuticals
Ltd., Proventus Life Sciences Pvt Ltd, Chiral
Drugs Pvt Ltd, USV Private Limited, and
ASolution Pharmaceuticals Pvt. Ltd. In
conclusion, the India Active Pharmaceutical
Ingredients market is witnessing significant
growth due to the increasing demand for
affordable medicines. The market offers
cost-effective solutions, high-quality products,
and a wide range of therapeutic options. With the
outsourcing trend by global pharmaceutical
companies, India is poised to become a major
player in API manufacturing. The government's
initiatives and incentives further support the
growth of the Indian API market.
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