Pharmaceutical Intermediates Market Size to Worth US$ 47.1 Bn by 2029
The pharmaceutical intermediates market is estimated to worth around US$ 47.1 billion by 2029 and growing at a CAGR of 6.3% from 2021 to 2030.
The demand for the pharmaceutical intermediates is rising rapidly owing to the surging demand for the various drugs across the globe. The globe is witnessing a rising prevalence of various chronic diseases such as diabetes, cancer, cardiovascular disease, neurological diseases, and respiratory diseases. Further, the geriatric population is growing rapidly across the globe.
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According to the World Health Organization, the old age population across the globe is anticipated to reach around 2 billion by 2050. The elderly people are more susceptible to various diseases and they spends largely on the medicines and diagnosis. The improving access to the healthcare facilities owing to the rising government initiatives and investments to develop a sophisticated healthcare infrastructure is a major factor that is expected to boost the growth of the global pharmaceutical intermediates market. The rapidly growing biopharmaceutical industry owing to the surging demand for the biologics and biosimilar medicines is significantly driving the market growth across the globe.
Market Size by 2029
US$ 47.1 Billion
Growth rate from 2021 to 2030
CAGR of 6.3%
Analgesics Segment Market Share in 2020
- By product, the bulk drug intermediates segment dominated the pharmaceutical intermediates market in 2020. There is a huge demand for the bulk drug intermediates for producing active pharmaceutical ingredient (API), which helps in the production of various drugs along with the expected therapeutic results. The active participation of government in promoting and developing bulk drug parks has contributed to the dominance of this segment. For instance, under the Make in India initiative, the Department of Pharmaceuticals has prioritized a list of 56 APIs in India.
- On the basis of application, the analgesics segment accounted for a market share of around 30% and dominated the market in 2020. Analgesics are highly preferred for the treatment of different type of pains. The surging prevalence of chronic ailments and pains due to various diseases such as cancer, arthritis, and cardiovascular diseases has fostered the growth of the analgesics segment.
- Based on the end user, the CRO/CMO was the leading segment in 2020. The CROs and CMOs indulges in the research & development and contract manufacturing of various type of drugs respectively. The higher demand for the pharmaceutical intermediates in CMO for the production of drugs has resulted in the dominance of this segment in the global pharmaceutical intermediates market.
- North America was the dominant pharmaceutical intermediates market in 2020. The presence of several top pharmaceutical manufacturing companies and various research organizations in the region has significantly fueled the demand for the pharmaceutical intermediates. The favorable government policies and huge investments for the development of the pharmaceutical industry has fostered the growth of the North America pharmaceutical intermediates market.
- Asia Pacific is estimated to witness fastest growth rate during the forecast period. The presence of several pharmaceutical manufacturers in the nations like India, China, Japan, and South Korea are contributing towards the market growth. Furthermore, the surging prevalence of various chronic diseases among the vast population is propelling the demand for various drugs which is driving the market growth significantly.
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Future of Pharmaceutical Intermediates Market
The introduction of novel technologies like AI and cloud computing in the manufacturing units of pharmaceutical industry and surging investments towards the research and development are forecasted to be the prominent growth drivers in the foreseeable future. The surging popularity of the personalized medicines is expected to offer numerous growth prospects to the manufacturers across the globe. Furthermore, the globe is witnessing a rapid rise in the prevalence of various chronic diseases, which is expected to significantly boost the demand for the various new medicines, thereby driving the market growth across the globe.
COVID-19 Impact Analysis:
- The demand for the pharmaceutical intermediates increased rapidly during the COVID-19 pandemic owing to the rising investments in the research and development of various drugs for curing COVID-19 disease.
- The disruptions in the supply chain adversely affected the manufacturing of drugs in 2020.
- The lack of the raw materials during the pandemic adversely hampered the production of the pharmaceutical intermediates.
Key Developments in the Marketplace:
The top market players such as BASF, Sanofi, and Lonza are constantly engaged into various developmental strategies such as acquisitions, partnerships, and collaborations in order to gain market share and strengthen their position in the market. The market players seeks to gain competitive advantage over others and exploit the market opportunities.
Segments Covered in the Report
- Chemical Intermediates
- Bulk Drug Intermediates
- Custom Intermediates
- Ant-inflammatory Drug
- Cardiovascular Drugs
- Anti-Diabetic Drugs
- Anti-Cancer Drugs
By End User
- Biotech & Pharma Companies
- Research Laboratory
- North America
- Asia Pacific
- Rest of the World
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