Pharmaceutical intermediates are the prominent components of the active pharmaceutical ingredients. They are mainly used during the manufacturing of the bulk drugs in the pharmaceutical industry. The global market for these intermediates is expected to grow rapidly in the coming years due to the increasing number of chronic diseases around the world.
The growing prevalence of new viruses, increase in the healthcare spending, improved standards of healthcare, technical advancements in the manufacturing are the main factors driving the market. The introduction of novel products has been another major determinant of the market even in tough times. Strict government regulations and the patent expiry are significant aspects that has to be gioven utmost priority while using these intermediates. Antibiotics, antipyretic analgesics, vitamins, etc.,are some of the applications of the pharmaceutical intermediates.
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The global pharmaceutical intermediates market was valued at approximately $25,440 million in 2017 and is expected to generate revenue of around $33,608 million by the end of 2024, growing at a CAGR of around 4.0% between 2018 and 2024. Geographically the market is spread across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America holds major market share in terms of revenue and volume owing to the maximum number of key players in the area. Also, government regulations are more flexible in terms of adoption of new innovative drugs. Europe and Asia Pacific are expected to follow North America due to the rising population and increasing focus on healthcare.
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Some of the key players at the global level are Aceto Corporation, Easter Chemical Corporation, BASF SE, A.R. Life Sciences Private Limited, Vertellus Holdings LLC, Lianhetech, Dishman Group, Chemcon Specialty Chemical Pvt. Ltd., Cycle Pharma, Sanofi Winthrop Industries S.A., and ZCL Chemicals Ltd.
Various research and development activities that are carried out by pharmaceutical companies support the growth of pharmaceutical intermediates market. This is expected to propel the market growth because growing number of chronic diseases are now being attempted to be resolved or cured using non-invasive therapeutic methods. A growing area of focus is the therapeutic area segment. Biotechnology industry, and chemical industry are also increasing their focus in the pharma intermediates market as it opens up newer avenues for their growth. New funding and investments by big players and the government alike is expected to boost market sales and growth of the market in the coming years.
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