Double-digit Growth Rate of the Pharmaceuticals Industry in Asia Pacific Boosts the API Market, Finds Frost & Sullivan

Double-digit Growth Rate of the Pharmaceuticals Industry in Asia Pacific Boosts the API Market, Finds Frost & Sullivan PR Newswire SINGAPORE, Dec. 4, 2012 - Low costs of operation attract foreign investors to the API contract manufacturing market in APAC region SINGAPORE, Dec. 4, 2012 /PRNewswire/ -- The pharmaceuticals industry in the Asia Pacific is thriving on the back of escalating population and increasing incidence of lifestyle diseases. Its success has a direct bearing on the region's active pharmaceutical ingredients (API) market, which is drawing considerable attention from foreign investors. New analysis from Frost & Sullivan (http://www.chemicals.frost.com), Analysis of the Active Pharmaceutical Ingredients Market, finds that the market earned revenues of $1.12 billion in 2011 and estimates this to reach $1.79 billion in 2018. "The focus on healthcare has enabled Australasia to corner a large share of the global pharmaceuticals market, compelling market majors to train their spotlight on emerging countries," said Frost & Sullivan Research Analyst Tridisha Goswami. "This bodes well for the regional API market, as pharmaceutical companies' checklist for contract manufacturing includes low cost of production, and favorable geographic locations." Labor costs are low in countries such as Vietnam, Indonesia, and Malaysia, making API contract manufacturing feasible in these countries. However, the limited resources and lack of technologies tarnish their attractiveness.