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Global Specialty Active Pharmaceutical Ingredients Market: Increasing Production of Generic Drugs to Drive Market Growth

Hence, the companies are making finished pharmaceutical products (FPP) such as capsules, syrups, and tablets among others. So as to meet the demands of the clients, manufacturers of specialty active pharmaceutical ingredients are now entering to several development agreements with the pharma companies. In addition to this, these agreements between the manufacturers of specialty pharmaceutical ingredients for the production of these specialty pharma ingredients is also projected to help in driving the overall growth of the global market with respect to revenue generation over the course of the given forecast period. Moreover, the CMOs are offering sturdy facilities for manufacturing with the EU and GMP certificates to manufacture specialty active pharmaceutical ingredients. In addition, big players in the global pharmaceutical industry are presently following a trend of backward integration to develop specialty active pharmaceutical ingredients to make more money.

The global market for specialty active pharmaceutical ingredients is expected to show an overall growth rate of 7.9% over the course of the given forecast period. The overall valuation of the global market specialty active pharmaceutical ingredients was expected to cross US$119,513 Mn in 2016.

Small Molecule API to Dominated Product Segment of Market

The overall growth of the global market for generic drugs is primarily driven due the expiration of patents. Hence, growing generic drugs is projected to augment the development of the specialty active pharmaceutical ingredients. In addition to this, the rate at which chronic disorders such as infections or cardiovascular cancers are prevailing across the globe are also expected to raise the volume of production of the specialty active pharmaceutical ingredients over the course of the given forecast period of 2016 to 2024.

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The global market for specialty active pharmaceutical ingredients can be segmented into various sub-categories such as carbohydrate specialty active pharmaceutical ingredients, steroidal specialty active pharmaceutical ingredients, peptides, and high potency and small molecule specialty active pharmaceutical ingredients. Among all these the segment for small molecule specialty active pharmaceutical ingredients is expected to record most promising CAGR of 8.0% during the given forecast period. The revenue share of the small molecule segment is projected to grow owing to the growth of the generic drugs in the product segment of pharma industry. After small molecule specialty active pharmaceutical ingredients, carbohydrates and peptides are considered to be the more promising product segments.

In terms of overall consumption, the global market for specialty active pharmaceutical ingredients can be segmented into outsourced specialty active pharmaceutical ingredients and in-house specialty active pharmaceutical ingredients. The segment of outsourced specialty active pharmaceutical ingredients was accounted for a larger share in the global market in the year 2016. The same segment is projected to grow at strong CAGR of 10% during the given forecast period thanks to the growing production of generic drugs and high prevalence of chronic disorders.

North America to Lead Global Market on Backdrop of Strong Investments

In terms of geographical segmentation, the global market for specialty active pharmaceutical ingredients can be segmented into key regions such as North America, Europe, Middle East and Africa, and Asia Pacific. Of these, the North America market is expected to growth with most promising CAGR during the given forecast period owing to the increasing manufacturing of generic drugs and is expected to show a strong CAGR of 8.0%. This growth can be attributed chiefly to the sophisticated production facilities and growing investments by governments all across.

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