The Pharmaceutical Intermediates market is expected to drive growth at a noteworthy CAGR of 6.5%, during the forecast period 2021 to 2030. Certain factors that are driving the market growth include increasing prevalence of chronic diseases and growing R&D initiatives and activities in the pharmaceutical industry.
The diverse range of diseases, primarily cardiovascular disease, infectious diseases, diabetes, and kidney-related complications, has a high prevalence, globally. Thus, the increasing prevalence of a diverse range of diseases among all age groups and its burden, globally, drives the demand for drug development and its market.
Pharmaceutical intermediates are the key chemical ingredients in active pharmaceutical ingredients that are used in making medications for the treatment of diseases. The demand for pharmaceutical intermediates is closely intertwined with growing drug making activities across the globe. The evolution of the market is hence underpinned by the various evolution trajectories of the pharmaceutical industry world over. The demand has witnessed rapid boom from the rising demand for drugs for a range of lifestyle medications, especially in developing and developed regions. Broad types of pharmaceutical intermediates comprise chiral building blocks and achiral building blocks.
Over the years, the adoption of good manufacturing practice (GMP) regulated-drug making activities by pharmaceutical companies has led to the rapid evolution of the pharmaceutical intermediates market. Furthermore, patent expiration of drugs, especially for chronic diseases, in recent years has led to a staggering rise in demand for active pharmaceutical ingredients, world over. This, is turn, has contributed to the rapid strides of the pharmaceutical intermediates market.
The research evaluates the impact of key trends and recent developments on the evolution trajectories of the market. The insights can serve as a useful guide for new entrants and stakeholders access new investment pockets in the pharmaceutical intermediates market.
Trends and Opportunities
The rising prevalence of chronic and lifestyle-driven diseases is propelling the demand for active pharmaceutical ingredients, thus driving the pharmaceutical intermediates market. The growing incidence of neurological and cardiovascular diseases, especially among developing and developed regions, is a crucial factor boosting the market. Relentless search for novel drug formulations for several life-threatening diseases is a key trend fueling the expansion of the pharmaceutical intermediates market. The trend gains from strength from the rising investment by prominent drug making companies in research and development activities, notably through contract manufacturing services. The rising demand for pharmaceutical intermediates for new antibiotics and therapeutic drugs is a key trend accentuating the market.
The growth of the global pharmaceutical intermediates market is also bolstered by the rising demand for generic drugs, especially among patient populations in emerging economies. The dynamics may be considerably impacted by the growing number of stringent regulations for the production of active pharmaceutical ingredients. The advent of quality control systems for the production of pharmaceutical intermediates in order the diverse needs of pharmaceutical products is a promising trend catalyzing the market growth. Furthermore, rising number of promising avenues in the pharmaceutical industries, coupled with growing number of contract manufacturing organizations, will help expand the horizon of the pharmaceutical intermediates market.
Cardiovascular diseases are the leading cause of deaths worldwide. According to the American College of Cardiology, cardiovascular disease (CVD) accounted for 800,000 deaths in the United States in 2017 alone. Among Americans, an average of one person dies from cardiovascular disease, every 40 seconds. Coronary heart disease (CHD) accounts for the majority of CVD deaths, followed by stroke and heart failure. According to the European Heart Network, every year, cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU).
This high prevalence of cardiovascular diseases is generating a huge demand for cardiovascular drugs, which, in turn, is expected to propel the growth in the need for various pharmaceutical intermediates. Hence, owing to the aforementioned factors, the concerned segment of the pharmaceutical intermediates market is expected to observe steady growth over the forecast period.
The study evaluates promising avenues and investment pockets in key regions in the pharmaceutical intermediates market. On the regional front, developed regions notably North America is expected to contribute generous revenues to the overall market, attributed to rising spend on drug making activities by numerous globally prominent pharmaceutical companies. Rapid improvements made in the medical infrastructure has generated large lucrative prospects in emerging regions, especially in Asia Pacific and Latin America. A large chunk of revenue in the pharmaceutical intermediates market is expected to come from countries such as Japan, India, and China.
However, the Asia-Pacific market is anticipated to witness the highest growth during the forecast period, due to increasing healthcare expenditure. Additionally, the low cost of manufacturing in China and India has resulted in the rise in the production facilities, attracting pharmaceutical and biotechnological giants to the Asia-Pacific region from across the world.
Prominent companies in the global pharmaceutical intermediates market are entering into collaboration and focusing on mergers and acquisitions, in order to consolidate their presence in the market. Several companies are also exploring new streams of revenue in emerging economies, to gain a better foothold over the competitive dynamics.
Companies like Aceto Corporation, BASF SE, Chiracon GmbH, Yin-sheng Bio-tech Co., Ltd., Dishman Group, Green Vision Life Sciences, Midas Pharma GmbH, Sanofi SAIS, Vertellus Holdings LLC., among others, hold the substantial market share in the market.
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