The global pharmaceutical intermediates market size was estimated at around USD 2.38 billion in 2022 and it is projected to hit around USD 4.74 billion by 2032, growing at a CAGR of 7.14% from 2023 to 2032.
The global pharmaceutical intermediates market size was estimated at around USD 2.38 billion in 2022 and it is projected to hit around USD 4.74 billion by 2032, growing at a CAGR of 7.14% from 2023 to 2032.
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Why pharmaceutical intermediates?
Pharmaceutical intermediates are drugs used as raw materials in the production of bulk drugs. Moreover, they are widely used to refer to a material created during the synthesis of an active pharmaceutical ingredient (API) before the processing of becoming an API. Pharmaceutical intermediates are usually formed using high-grade raw materials. These intermediates are widely used in the pharmaceutical and cosmetic industries. The rising demand in these industries is expanding the global pharmaceutical intermediates market. Pharmaceutical intermediates are popularly used for research and development in the pharmaceutical industry. The pharmaceutical intermediates are increasingly being produced using raw materials such as coal tar or petroleum to manufacture pesticides, pharmaceuticals, resins, additives, plasticizers, etc. However, several intermediates can be produced in organic synthesis, and be used in creating various drugs and products.
What are the importance pharmaceutical intermediates market?
The pharmaceutical intermediates market plays a vital role in the pharmaceutical industry and has significant importance for several key reasons:
- Drug Development and Manufacturing: Pharmaceutical intermediates are essential compounds in the synthesis of active pharmaceutical ingredients (APIs). They serve as building blocks in the production of drugs, enabling the efficient and cost-effective manufacturing of a wide range of pharmaceutical products.
- Cost Efficiency: Pharmaceutical intermediates can be produced in larger quantities and at a lower cost than the final APIs. This cost efficiency is crucial for pharmaceutical companies seeking to reduce production expenses and offer more affordable medications to consumers.
- Accelerating Drug Discovery: Pharmaceutical intermediates expedite the drug development process. By providing readily available intermediate compounds, they enable researchers to focus on optimizing the final drug candidate's properties, saving time and resources in the early stages of drug discovery.
- Customization and Diversification: The pharmaceutical intermediates market offers a variety of compounds that can be tailored to suit the specific needs of drug development projects. This customization allows pharmaceutical companies to create a diverse portfolio of drugs for various medical conditions.
- Regulatory Compliance: Pharmaceutical intermediates must meet strict quality and safety standards, ensuring compliance with regulatory requirements. This quality control is crucial to guarantee the safety and efficacy of pharmaceutical products.
- Reducing Environmental Impact: The production of pharmaceutical intermediates can often be more environmentally friendly than the production of the final APIs, as it may involve fewer steps and generate fewer byproducts or waste.
- Supply Chain Resilience: A robust pharmaceutical intermediates market contributes to a resilient pharmaceutical supply chain. Access to a variety of intermediates and suppliers reduces the risk of supply chain disruptions, ensuring a consistent and reliable source of raw materials for drug manufacturing.
- Innovation and Research: Companies in the pharmaceutical intermediates market continually work on developing new and improved chemical processes and compounds. This innovation supports advancements in drug development and manufacturing methods.
- Global Health and Disease Control: The availability of pharmaceutical intermediates is essential for the production of essential medications for global health initiatives. This includes medications for infectious disease control, such as antivirals, antibiotics, and vaccines.
- Pharmaceutical Export: Many countries rely on pharmaceutical intermediates for their own drug manufacturing, while also exporting them to other nations. This trade contributes to economic growth and international collaboration in the pharmaceutical industry.
- Drug Accessibility: A stable and competitive pharmaceutical intermediates market can help ensure that a broader range of pharmaceutical products, including generic medications, is readily available. This enhances patient access to essential medications.
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Market Dynamics
Driver:
Increasing Global Demand for Pharmaceuticals:
Rising global healthcare needs, coupled with the prevalence of chronic diseases, are generating a continuous demand for pharmaceutical products. Pharmaceutical intermediates are essential components in drug manufacturing, making them indispensable to meet the escalating need for medications worldwide.
Growing Generics Market:
The expanding generics market, particularly in emerging economies, is boosting the demand for pharmaceutical intermediates. Generic drug manufacturers rely on these intermediates to produce cost-effective medications, thereby increasing accessibility to essential treatments and medications across diverse populations.
Market Restraint:
- Raw Material Price Volatility: Pharmaceutical intermediates often rely on specific raw materials, the prices of which can be volatile due to geopolitical factors, supply chain disruptions, or market demands. Fluctuations in raw material prices can significantly impact production costs, affecting profit margins and overall market stability.
- Intellectual Property Issues: Intellectual property concerns, including patent infringements and intellectual property theft, pose a significant challenge for pharmaceutical intermediates manufacturers. Protecting proprietary formulations and manufacturing processes is crucial. Legal battles and the need for constant vigilance against intellectual property violations can divert resources and focus from innovation.
Opportunities:
- Biopharmaceutical Intermediates: The rise of biopharmaceuticals, including monoclonal antibodies, vaccines, and gene therapies, presents a significant opportunity. Developing specialized intermediates for biopharmaceutical production, characterized by complex biological processes, can be a lucrative niche. Manufacturers can explore innovations in cell culture media and fermentation intermediates to cater to this growing market segment.
- Digitalization and Data Analytics: Harnessing the power of data through analytics and digitalization enhances manufacturing processes and supply chain management. Predictive analytics optimize inventory management, production schedules, and quality control. Real-time data insights enable informed decision-making, ensuring streamlined operations and improved overall efficiency.
Report Scope
In terms of product, the global pharmaceutical intermediates market has been bifurcated into bulk drug intermediate and custom intermediate. The bulk drug intermediate segment has been split into chiral intermediate and achiral intermediate.
Based on application, the global pharmaceutical intermediates market has been segregated into cardiology, oncology, endocrinology, infectious diseases, orthopedics, neurology, gastroenterology, dermatology, inflammatory & pain management, ophthalmology, and others. Changes in lifestyle i.e., increase in consumption of tobacco and burden of cancer fuels the growth of the oncology segment.
In terms of end user, the global pharmaceutical intermediates market has been divided into pharmaceutical & biotechnology companies and CROs & CMOs. The fragmented structure of the CRO industry has led to an increase in strategic alliances, acquisitions, joint ventures, and other partnership deals as companies attempt to expand their service offerings and geographical presence.
In terms of region, the North America is expected to account for a significant share of the global pharmaceutical intermediates market during the forecast period. The growth of the pharmaceutical intermediates market in the region can be attributed to rise in access to healthcare and increase in incidence of chronic diseases. According to the World Health Organization, stroke, diabetes mellitus, COPD, and lower respiratory diseases were the top causes of death in 2020.
The market in Asia Pacific is likely to expand at a high CAGR from 2023 to 2032. The increase in the geriatric population is projected to boost the market in the region.
Major Key Points Covered in Report:
- Executive Summary: It includes key trends of the pharmaceutical intermediates market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the pharmaceutical intermediates market based on production and revenue.
- Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
- Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Pharmaceutical intermediates market.
Market Segments: This part of the report discusses about product, application and other segments of the pharmaceutical intermediates market based on market share, CAGR, market size, and various other factors.
Companies Mentioned in Report:
BASF SE, Lonza Group, Evonik Industries AG, Cambrex Corporation, DSM, Aceto, Albemarle Corporation, Vertellus, Chemcon Speciality Chemicals Ltd., Chiracon GmbH, and A. R. Life Sciences Private Limited.
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Report Segmentation:
By Product
- Bulk Drug Intermediate
- Chiral Intermediate
- Achiral Intermediate
- Custom Intermediate
By Application
- Cardiology
- Oncology
- Endocrinology
- Infectious Diseases
- Orthopedics
- Neurology
- Gastroenterology
- Dermatology
- Inflammatory & Pain Management
- Ophthalmology
- Others
By End User
- Pharmaceutical & Biotechnology Companies
- CROs & CMOs
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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