Pharmaceutical Intermediates Market Rising Prevalence of Chronic Diseases and Infectious Diseases
According to our new research study on “Pharmaceutical Intermediate Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Applications, and Distribution Channel,” the market is expected to reach US$ 37,290.33 million by 2028 from US$ 27,356.70 million in 2020. It is estimated to grow at a CAGR of 4.2% from 2021 to 2028. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth. Factors such as rising prevalence of chronic diseases and infectious diseases, and escalating investment by pharmaceutical companies in R&D activities fuel the growth of the market. However, the high cost of drug manufacturing is the major factor hindersing the market growth.
The pharmaceutical intermediates market has been analyzed on the basis of type, application, distribution channel, and region. The market based on region is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. The report emphasizes on parameters such as market trends, technological advancements, market dynamics, and leading company’s competitive landscape analysis to offers insights and in-depth analysis of the pharmaceutical intermediates market. It also includes the analysis of COVID-19 pandemic across the market in all the key regions.
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Pharmaceutical Intermediates Market Competitive Landscape
Pfizer Inc., .; Sanofi, ; BASF SE, ; Lianhe Chemical Technology Co., Ltd, ; Dishman Carbogen Amcis Ltd, ; Codexis, ; Midas Pharma GmbH, ; chiracon GmbH, ; Dextra Laboratories Limited, ; and Vertellus Holdings LLC are among the leading companies operating in the pharmaceutical intermediate market.
The companies are adopting inorganic and organic growth strategies to expand their global footprints and product portfolio to meet the rising demands for the pharmaceutical intermediate. For instance, in January 2021, Pritzker Private Capital, a leader in family direct investing, acquired the Vertellus group of companies, a specialty chemicals manufacturer. Headquartered in Indianapolis, Ind., Vertellus is a leading provider of specialty chemicals for the healthcare, personal care, food & agriculture, coatings, and transportation markets.
Rising Prevalence of Chronic Diseases and Infectious Diseases
Pharmaceutical intermediates are the building blocks of active pharmaceutical ingredients (APIs). These are raw materials that undergo molecular change or processing during bulk drug production. Thus, the requirement of pharmaceutical intermediates increases with the rise in demand for drugs to treat chronic diseases. As per the Centers for Disease Control and Prevention (CDC), 6 in 10 adults in the US suffer from at least one chronic disease such as cancer, heart disease, lung disease, stroke, neurological disease, diabetes, and kidney diseases. Moreover, 4 in 10 adults in the country have two or more chronic diseases. Additionally, according to the press release by the European Chronic Disease Alliance (ECDA), in 2014, 9 out of 10 people in Europe die due to chronic diseases. Thus, 70–80% of the total healthcare costs are spent on the management of chronic diseases.
The surging prevalence of infectious diseases, especially in Southeast Asia, is also likely to propel the demand for APIs in the coming years, eventually driving the growth of the pharmaceutical intermediate market. For instance, as per the Revised National Tuberculosis Control Programme Report, around 4.4 lakh patients died due to tuberculosis in India in 2018, that is 29% of the total 1.5 million deaths caused by the disease across the world. Thus, such high prevalence of chronic diseases and infectious diseases is bolstering the demand for drugs, eventually highlighting the need of pharmaceutical intermediates.
Pharmaceutical Intermediates Market Segmentation Review
In 2020, the GMP segment accounted for the global pharmaceutical intermediate market's a largerst market share of the global pharmaceutical intermediate market. The market growth for this segment can be attributed to increase in adoption of good manufacturing practices (GMP) by pharmaceutical companies. Good Manufacturing Practice (GMP) are regulations by the US Food and Drug Administration that ensure that pharmaceutical products are consistently produced as per the quality standards. These regulations are designed to reduce the risks involved in the production of pharmaceuticals that cannot be eliminated through testing the finished product.
The pharmaceutical intermediates market, by application, is segmented antibiotics, antipyretic analgesics, vitamins, and others. The antibiotics segment held the largest share of the market in 2020, also, this segment is anticipated to register the highest CAGR of 4.9% in the market during the forecast period.
Pharmaceutical Intermediates Market By Geography
- North America
- United Kingdom
- Czech Republic
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of MEA
- South and Central America (SCAM)
- Rest of SCAM
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