Market Research Report on India Active Pharmaceutical Ingredient(API)
Market, Growth Rate, Covid-19 Impact, Economic Impact, Size,Share, Trend, Drivers, Competitive Landscape, Opportunity, Limitations,Technological Landscape, Regulatory Framework, PESTEL Analysis, PORTER’sAnalysis, Forecast upto 2027
The India API Market is expected to Drive Owing tothe R&D Activities and Surge in the Incidence of Chronic Disease
The India API market projectedto reach USD 27.49 billion at a significant CAGR of over 10.23% during theforecasted period of 2020-2027. Due to the rising up gradation of technologyacross India and the growing incidence of hereditary cardiac disease, it isfurther projected to accelerate the API market at a significant rate across thecountry. Furthermore, the propelling focus on precision medicine is precited toaccelerate the India activepharmaceutical ingredient market. Moreover, the use of drug developmenttechniques focused on Artificial Intelligence further expected to boost themarket.
Additionally,strategic outsourcing enables enterprises to rely on their core competencies,contributing to improved efficiency, which is anticipated to fuel India's APImarket. Furthermore, the rising demand for biosimilars across India ispredicted to drive the market at a considerable rate.
However, the lackof skilled labor is predicted to challenge the growth of the market. Additionally,the increasing penetration of counterfeit drugs further projected to hinder theIndian market's growth substantially.