The global APIs market has several big players. The key players in the market are Pfizer, Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), Bristol-Myers Squibb (US), Teva Pharmaceutical Industries Ltd. (Israel), Eli Lilly and Company (US), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US), AbbVie Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), and AstraZeneca plc (UK). These players have adopted various growth strategies, such as partnerships, acquisitions, agreements, and collaborations as well as new product launches, to further expand their presence in the global market.
Acquisitions and collaborations have been the key growth strategies adopted by players from 2016 to 2018. Some of the leading players who adopted these strategies include Pfizer, Inc. (US), Novartis AG (Switzerland), Sanofi (France), Boehringer Ingelheim (Germany), and Bristol-Myers Squibb (US).
“North America to dominate the market in 2019.”
In 2019, North America is expected to dominate the market, followed by Europe. The major factors driving the overall growth of the APIs market in this region include the growing incidence of preventable chronic diseases, increasing government focus on generic drugs, rising demand for biologics and specialty drugs, and technological advancements in the manufacturing processes of APIs. This market segment is expected to grow at a modest rate due to a combination of economic and healthcare severity measures and the introduction of low-cost, generic versions of branded drugs.
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