Portland, OR, July 17, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "API Intermediates Market by Type (Bulk Drug Intermediates and Chemical Intermediates), Application (Analgesics, Anti-Infective Drugs, Antidiabetic Drugs, Cardiovascular Drugs, Anticancer Drugs, and Others), and End User (Biotech & Pharmaceutical Companies, CMOs, and Research Laboratories): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global API intermediates market was valued at $139.4 billion in 2022 and is estimated to reach $285 billion by 2032, exhibiting a CAGR of 7.4% from 2023 to 2032.
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Prime Determinants of Growth:
The global API intermediates market is driven by the rise in the prevalence of chronic disease, the high presence of market players, and the surge in the number of geriatric populations. However, the high cost associated with API intermediates is anticipated to hinder the growth of the market. On the contrary, the high presence of API intermediate providers and the rise in initiatives taken by the government to develop healthcare infrastructure is expected to create a lucrative opportunity for the coming years.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $139.4 Billion |
| Market Size in 2032 | $285 Billion |
| CAGR | 7.4% |
| No. of Pages in Report | 390 |
| Segments Covered | |
| Drivers | Rise in the prevalence of chronic disease High presence of API manufacturers Increase in the number of initiatives taken by the government |
| Opportunities | Rise in the adoption of several strategies by market players of API intermediates |
| Restraints | High manufacturing costs of API intermediates |
COVID-19 Scenario:
- The outbreak of COVID-19 had a negative impact on the global API intermediates market. The pandemic had led to a disruption of the supply chain, a scarcity of raw materials, and a lack of labor.
- However, the API intermediates market has returned to normal situation, due to the regularization of government rules for supply chains which increased the demand for API intermediates.
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The bulk drug intermediates segment to maintain its leadership status throughout the forecast period-
Based on type, the bulk drug intermediates segment held the highest market share in 2022, accounting for more than three-fourths of the global API intermediates market revenue, and is estimated to maintain its leadership status throughout the forecast period. The same segment is projected to manifest significant growth with a CAGR of 7.6% from 2023 to 2032, owing to the high presence of market players who manufacture bulk drug intermediates and the surge in the prevalence of chronic pain and the rise in the prevalence of chronic diseases such as cancer.
The analgesics segment to maintain its lead position throughout the forecast period-
Based on application, the analgesics segment held the highest market share in 2022, accounting for nearly two-fifths of the global API intermediates market revenue, and is estimated to maintain its lead position throughout the forecast period. owing to the rise in the prevalence of chronic pain and increased awareness among people regarding painkiller drugs. However, the cardiovascular drugs segment would cite the fastest CAGR of 9.0% from 2023 to 2032, owing to the rising prevalence of cardiovascular diseases.
The biotech and pharmaceutical companies segment to rule the roost by 2032-
Based on end user, the biotech and pharmaceutical companies segment held the highest market share in 2022, accounting for nearly half of the global API intermediates market revenue, and is projected to rule the roost by 2032. The same segment would also portray the fastest CAGR of 7.7% from 2023 to 2032. This is due to the high presence of biotech and pharmaceutical companies that manufacture API intermediates.
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Asia-Pacific to maintain its dominance by 2032-
Based on region, Asia-Pacific held the highest market share in 2022, accounting for nearly two-fifths of the global API intermediates market revenue, and is expected to maintain its dominance during the forecast period. The growth is attributed to the high presence of API intermediate manufacturers in Asia-Pacific and the rising prevalence of chronic disease. However, the North America region is expected to witness the fastest CAGR of 8.0% from 2023 to 2032. owing to the rising number of geriatric populations, the geriatric population is more susceptible to chronic diseases and has an increased prevalence of chronic pain. These factors are expected to boost the growth of the market.
Leading Market Players: -
- Anyang General Chemical Co., Ltd.
- Sandoo Pharmaceuticals
- Evonik Industries Ag.
- Shree Ganesh Remedies Limited
- Cambrex Corporation
- Zeal And Innovation Medicine
- Cation Pharma
- Espee
- Hikal Ltd
- Pfizer Inc.
The report provides a detailed analysis of these key players in the global API intermediates market. These players have adopted different strategies such as agreements, partnerships, acquisitions, and business expansion to increase their market share and maintain dominant positions in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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