MarketResearchFuture.com (MRFR) in it’s Recently Announced study report asserts that the “Global Duloxetine API Market” the report offer detailed insights about the Historical Trends and Current Scenario with Top Industry Players, Demand, Major Drivers and Industry Dynamics up to 2023.
The Global Duloxetine API Market is expected to register a CAGR of 3.52% and is anticipated to reach USD 3,985.0 million by 2023. Active pharmaceutical ingredients (APIs) are used in the manufacturing of pharmaceutical dosage forms such as tablets and capsules. Duloxetine is a serotonin-norepinephrine reuptake inhibitor used in the treatment of depression and anxiety. Additionally, duloxetine API is used to help relieve neuropathic pain in people with diabetes or ongoing pain due to disease conditions such as arthritis, fibromyalgia, and chronic back pain.
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The factors such as the rising prevalence of depression, growing penetration of generic drugs, growing cases of anxiety, the growing trend of outsourcing, strong drug pipeline, and increasing demand for newly developed small molecule drugs are expected to drive the market growth during the forecast period.
The prominent players in the global duloxetine API market are Teva Pharmaceutical Industries Ltd (Israel), Sun Pharmaceutical Industries Ltd (India), Aurobindo Pharma (India), Lupin (India), Zydus Cadila (India), Eli Lilly and Company (United States), Shodhana Laboratories (India), Hetero (India), Apotex Inc. (Canada), Shionogi Inc. (US), and Zhejiang Huahai Pharmaceutical Co., Ltd (China).
The global duloxetine API market has been segmented into application. Based on application, the market has been segmented into major depressive disorder, generalized anxiety disorder, fibromyalgia, neuropathic pain, chronic musculoskeletal pain, and others. The chronic musculoskeletal pain accounted for a market value of USD 200.0 million in 2017.
Geographically, the Americas is expected to dominate the global duloxetine API market. In this region, North America is expected to dominate the market owing to the increasing incidence of chronic diseases such as psychological disorders, diabetes, increasing government focus on generic drugs, and technological advancements in the manufacturing processes of APIs. In Europe, the market growth is majorly due to the increasing pharmaceutical sector. Additionally, in Europe, countries such as the UK, Germany, and France have a higher demand for API and thereby drive the growth of the overall market. The Asia-Pacific market for duloxetine API is considered to be growing significantly due to the rising healthcare spending and a growing number of contract manufacturing organizations (CMOs). In this region, Japan accounted for a market share of 13.7% in 2017. Moreover, the Middle East and Africa accounted for the least share of the market. The low market share is due to the limited number of companies manufacturing duloxetine API.
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