The API market in the US to grow at a CAGR of 7% over the period 2014-2019
Active pharmaceutical ingredients (API) are active substances that are used in the manufacture of drugs and that have pharmacological effects. They provide health benefits and play a vital role in disease diagnosis, prevention, and treatment. API may be synthesized either chemically or through biotechnological methods. They are used in a wide range of therapeutic areas such as oncology and for treatment of conditions such as respiratory disorders and rheumatoid arthritis.
One major trend upcoming in the market is the strong focus on the development and introduction of high-potency API. Such products are increasingly used in oncology and for the provision of targeted therapy.
one of the key drivers contributing to the growth of the API market in the US is the strong preference for generic drugs compared with innovative or branded drugs. The use of generic equivalents is preferred to innovative drugs, with countries encouraging doctors and pharmacists to prescribe such equivalents.