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Follow on Google News | Global Active Pharmaceutical Ingredient Market- By ApplicationsBy: Mordor Intelligence The Active pharmaceutical ingredient market is segmented based on the areas of its applications into Cardiology, Pulmonology, Oncology, Ophthalmology, Neurology and Orthopedics There is an increasing incidence of diseases and a demand for new drugs is in turn creating a demand for active pharmaceutical ingredients in the market. The population suffering from cardiac and pulmonary disorders is growing steadily because of the lifestyle changes and rise in pollution. Oncology is another fast growing segment with higher incidences of cancer and the rising aging population contributes to this. There is also a rise globally in the number of epidemics, demanding larger volumes of drugs. These factors are driving the API market. A large investment is being made not only by the governments but also by the pharmaceutical companies into R&D to discover novel drugs to cure the diseases. The strict rules laid out by the regulating agencies and a highly fragmented market are the only constraints hampering the API market. The market can be geographically segmented as North American, European, Asia- Pacific and the Rest of the world. The North America has the largest market share because of the higher per capita income and advanced research facilities available. European market closely follows with good healthcare facilities available. Asia-Pacific has the fastest growing market because of the increasing affordability of healthcare facilities and the number of new companies being set up. The other countries in Africa and the Middle East have a growing market because of the outbreak of epidemics in these regions. Some of the key players in the market are BASF (Germany), Pfizer (USA), Mylan (Netherlands) For more information please visit : http://www.mordorintelligence.com/ End
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