The demand for active pharmaceutical ingredients (APIs) is presently rising across the globe on account of the burgeoning pharmaceutical industry. This growth can primarily be attributed to the increasing expenditure on healthcare facilities, in confluence with the growing investments in the drug development sector. According to the global active pharmaceutical ingredients market reportby IMARC Group, the market reached a value of US$ 176.3 Billion in 2018. Looking forward, the global active pharmaceutical ingredients market size is further projected to reach US$ 247.2 Billion by 2024, at a CAGR of around 5.8% during 2019-2024.
Some of the major players operating in the industry include Pfizer Ltd. (nse:PFIZER), Novartis International AG, Sanofi, Boehringer Ingelheim, Bristol-Myers Squibb, Teva Pharmaceutical Industries Ltd., ELI Lilly and Company, GlaxoSmithKline, Merck Co., Inc. and Abbvie Inc.
With the growing demand for APIs across the globe, the major top active pharmaceutical ingredients companies are enhancing their manufacturing capabilities as well as engaging in mergers and acquisition activities. In this article, we will be elaborating on some of the major players that are operating in the industry.
1. Pfizer, Inc.
2. Novartis International AG
3. Sanofi
4.Boehringer Ingelheim
5. Bristol-Myers Squibb
6. Teva Pharmaceutical Industries Ltd.
7. Eli Lilly and Company
8. GlaxoSmithKline
9. Merck Co.
10. AbbVie Inc
Source: IMARC Group
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