Indian API Market 2022-2028

Indian API Market 2022-2028

The Indian API market is estimated to witness a growth rate of over 9.5% during the forecast period. India is one of the emerging economies globally and a major player in the global API market. Rising prevalence of chronic diseases such as cancer and cardiovascular diseases (CVDs), presence of several medium to large API manufacturers, and increasing focus of government on the development of pharmaceutical manufacturing sector are some of the factors that are boosting the country’s API market. As per the government of Uttarakhand, India has a market share of 20% in the global generic market by volume and has a network of more than 10,500 manufacturers and 3,000 pharma companies. The Indian pharmaceutical market has increased by 7.4 % and reached around $19.0 billion in 2017 and expected to reach nearly $29.0 billion in 2022.

The Indian API market is segmented on the basis of type, type of synthesis, manufacturer type, therapeutics, and region. On the basis of type, the market is divided into a generic API and branded API. The branded API segment is estimated to be the dominant segment over the forecast period. On the basis of the type of synthesis, the market is classified into biotech API, synthetic API, and others. The synthetic API segment held the dominant position in the Indian API market in 2021. Furthermore, the market is classified on the basis of therapeutics into cardiovascular drugs, oncology drugs, neurology drugs, Non-steroidal Anti-inflammatory Drugs (NSAIDs), and others.

Some of the prominent players that contribute significantly in the Indian API market include Teva Pharmaceutical Industries Ltd., Piramal Enterprises Ltd., Sun Pharmaceutical Industries Ltd., Aurobindo Pharma, Novartis International AG, Boehringer Ingelheim International GmbH, and others. Sun Pharmaceutical Industries Ltd. is one of the significant companies in the API market India. It manufactures and markets generic and branded formulations and active pharmaceutical ingredients (APIs) in India and internationally. For API, the company provides anti-cancers, steroids, peptides, sex hormones, and controlled substances. The company manufactures APIs presently in 14 units located in Hungary, Israel, India, and the US. Some of the company’s major API products include Abiraterone acetate, Acitretin, Anastrozole, Azacitidine, Bosentan Monohydrate.