Rise in healthcare expenditure and focus on research & development are anticipated to drive the global pharmaceutical intermediates market from 2021 to 2031.
Albany NY, United States: Pharmaceutical Intermediates Market: Introduction
Rise in healthcare expenditure and focus on research & development are anticipated to drive the global pharmaceutical intermediates market from 2021 to 2031. 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 2019. The market in Asia Pacific is likely to expand at a high CAGR from 2021 to 2031. The increase in the geriatric population is projected to boost the market in the region.
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Focus on Research & Development to Propel Market
The development of innovative and effective health products for humans has increased in the past few decades. Key players are gearing up to introduce new drugs in the market. The research-based pharmaceutical industry can play a critical role in restoring growth and ensuring future competitiveness in an advancing global economy. The high investment in R&D capabilities and infrastructure by the industries and governments alike is anticipated to create lucrative opportunities in the global pharmaceutical intermediates market. The rising R&D pipeline of India-based companies presents significant in-licensing opportunities for global companies.
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Bulk Drug Intermediate to Dominate Market
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.
High Demand for Pharmaceutical Intermediates in Oncology Application
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.
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CROs & CMOs to Account for Major Share of Global Market
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.
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Competition Landscape in Pharmaceutical Intermediates Market
The report provides profiles of leading players operating in the global pharmaceutical intermediates market. These include 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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