The global Active Pharmaceutical Ingredients Market was valued at US$ 168.9 Bn in the year 2018 and is expected to reach US$ 273.3 Bn by the year 2026, growing at a CAGR of 6.2% during the forecast period.
The increasing demand for biopharmaceuticals is one of the most important factors that is driving the growth of the global active pharmaceutical ingredients market. Some of the key biologic drugs used for the treatment of cancer, cardiovascular diseases, and infectious diseases include monoclonal antibodies, antibody fragments, and other recombinant proteins. The US FDA has approved over a dozen of monoclonal antibodies for the treatment of cancer. More and more companies are investing in research and development of biopharmaceuticals.
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