Wilmington, Delaware, United States, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global pharmaceutical intermediates market is projected to flourish at a CAGR of 6% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 53.4 billion is anticipated for the market in 2031. As of 2023, the market for pharmaceutical intermediates is expected to close at US$ 32.8 billion.
With the increasing global population and age, there is an increasing need for various medications, driving the demand for intermediates used in their production. The growth in the pharmaceutical industry directly affects the market demand.
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Competitive Landscape
Key players in the global pharmaceutical intermediates market have been profiled based on key aspects such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies. Major companies profiled in the global pharmaceutical intermediates market report are
- BASF SE
- Lonza Group
- Evonik Industries AG
- Cambrex Corporation
- DSM
- Aceto
- Albemarle Corporation
- Vertellus
- Chemcon Speciality Chemicals Ltd.
- Chiracon GmbH
- R. Life Sciences Private Limited
Key Developments in the Pharmaceutical Intermediates Market
- In July 2023 - Evonik and Heraeus Precious Metals are collaborating to expand both companies’ range of services for highly potent active pharmaceutical ingredients (HPAPIs). The cooperative effort leverages the specific HPAPI competencies of both companies and provides customers with a fully integrated offering from the pre-clinical stage to commercial manufacturing.
- Albemarle has been investing in research and development to develop new technologies for producing pharmaceutical intermediates. The company aims to offer innovative solutions to its customers.
- Cambrex expanded its manufacturing capabilities for advanced intermediates and APIs at its site in Charles City, Iowa. This expansion aimed to meet the growing demand for high-quality pharmaceutical intermediates
- Merck has been investing in innovative technologies for pharmaceutical manufacturing. The company has been working on improving its capabilities in producing high-purity intermediates for various pharmaceutical applications.
- Novartis International has been working on enhancing its chemical manufacturing processes to produce high-quality intermediates for its pharmaceutical products. The company's focus includes optimizing efficiency and sustainability.
The increasing focus on innovative drug development and the need for a diverse range of APIs contribute to the demand for intermediates. The pharmaceutical intermediates are usually formed using high-grade raw materials, which are used in the pharmaceutical and cosmetic industries. The rising demand in these industries is expanding the global pharmaceutical intermediates market.
Increasing spending in research and development and advancements in innovative therapies are anticipated to improve the growth rate of the pharmaceutical intermediates market
Key Takeaways from the Market Study
- As of 2022, the pharmaceutical intermediates market was valued at US$ 31 billion
- By product, the bulk drug intermediate segment enjoys high demand, accumulating a high revenue share during the forecast period.
- Based on application, the infectious disease segment is anticipated to dominate the industry during the forecast period
- Based on end-user, the pharmaceutical & and biotechnology segment is likely to dominate the global pharmaceutical intermediates market during the forecast period.
Pharmaceutical Intermediates Market: Key Trends and Opportunistic Frontiers
- Due to the implementation of standardized pharmaceutical activities, and good manufacturing practices (GMP) in pharmaceutical corporations, the global pharmaceutical intermediates market is expected to grow in the upcoming future.
- Pharmaceutical intermediates are used in the production of generic drugs Thus the increasing demand for generic drugs due to their cost-effectiveness is driving the market growth.
- The rapid growth of the biopharmaceutical industry and growing investment in research and development activities to discover new drugs and optimize manufacturing processes has led to the development of novel pharmaceutical intermediates, boosting market growth.
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Pharmaceutical Intermediates Market – Regional Analysis
- North America is expected to hold the dominant share of the pharmaceutical intermediate market owing to the presence of a large number of pharmaceutical companies and research institutions, leading to substantial demand for intermediates. The presence of advanced healthcare infrastructure, a robust pharmaceutical industry, and a focus on research and development contribute to the market's growth in this region.
- Asia Pacific is expected to show lucrative opportunities for the dental anesthetics market during the forecast period. the rapid growth in the pharmaceutical industry and manufacturing in countries like China & and India, drive the market demand. The region's expanding population and rising healthcare expenditure contribute to the demand for pharmaceutical intermediates.
Pharmaceutical Intermediates Market – Key Segments
Product
- Bulk Drug Intermediate
- Chiral Intermediate
- Achiral Intermediate
- Custom Intermediate
Application
- Cardiology
- Oncology
- Endocrinology
- Infectious Diseases
- Orthopedics
- Neurology
- Gastroenterology
- Dermatology
- Inflammatory & Pain Management
- Ophthalmology
- Others
End-User
- Pharmaceutical & Biotechnology Companies
- CROs & CMOs
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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