(MoneyNewsWire.Net, January 05, 2018 ) The Latin America High Potency Active Pharmaceutical Ingredients Market was worth USD 2 billion in 2016 and estimated to be growing at a CAGR of 8.3%, to reach USD 3 billion by 2021. High Potency Active Pharmaceutical Ingredients (HPAPI) are pharmacological active substances and intermediates at concentrations below 150 micrograms per kilogram of body weight. They are highly selective, hence they can bind to specific receptors or enzymes which can cause cancer, reproductive problems and developmental disorders, at low doses. Many new pharmaceutical drugs have these drugs, leading to high growth of this market.
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High Potency Active Pharmaceutical Ingredients gave rise to new set of medicines to treat medical ailments, especially cancer. The mapping of human genome gave possibility for producing new cancer treating drugs not only for different cancers but also for different patients. Since they are active even at low concentrations, they have to be prepared with great care. They can cause serious health issues to workers if proper care is not taken. Safety steps are to be taken in order to prevent contamination of drugs with contaminants. So it requires specialized equipment for handling HPAPI’s and managing air quality.
Some of the driving factors of Latin America High Potency Active Pharmaceutical Ingredients market are low price, growing healthcare prices, rising government initiatives to increase the usage of generic medicines so that healthcare costs can be cut down, rising number of pharmaceutical manufacturers and patients. The restraining agents of this market are lack of skilled workers, stringent regulatory requirements and high price of equipment.
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The Latin America High Potency Active Pharmaceutical Ingredients market is segmented on the basis of type into innovative HPAPI’s and generic HPAPI’s. Innovative HPAPI’s has the largest market share due to factors like many number of them being patented, higher price as compared to generics, pharmaceutical manufacturers focusing on production of new drugs and demand for novel anti-cancer medicines. Based on synthesis, the market is divided into biotech HPAPI’s and synthetic HPAPI’s. Synthetic HPAPI’s have a larger market share due to rise of new drugs in the market, ease of production, technological improvements in synthesis and approval for the production of new drugs. Based on therapeutic application, the market is segmented into oncology, glaucoma, hormonal balance and others. Oncology has the largest share in the market. Factors such as rising incidence of cancer and launch of new target therapies is the reason for rise in the therapeutic segment.
The Latin America High Potency Active Pharmaceutical Ingredients market is geographically segmented into Brazil, Argentina, Chile and others. This market is still in its initial stages in this region. Factors such as growing incidence of cancer, increased funding into cancer research and approval for the production of new drugs is expected to amplify the growth of this market in the region.
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Some of the major players in the market include Pfizer, Inc. (U.S.), Novartis International AG (Switzerland), Sanofi (France), F. Hoffmann-La Roche Ltd. (Switzerland), Eli Lilly and Company (U.S.), Bristol-Myers Squibb (U.S.), Boehringer Ingelheim (Germany), Teva Pharmaceutical Industries Ltd. (Israel), Merck & Co., Inc. (U.S.), AbbVie Inc. (U.S.), and Mylan Inc. (U.S.).
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