Wilmington, Delaware, United States, Transparency Market Research Inc. -, Nov. 08, 2024 (GLOBE NEWSWIRE) -- The pharmaceutical chemicals market (제약 화학 시장) was valued at US$ 204.3 billion in 2022. From 2023 to 2031, the market is expected to grow at a CAGR of 5.8%, reaching US$ 339.3 billion. Monoclonal antibodies, gene therapies, and cell-based therapies are examples of biopharmaceuticals expected to remain popular. This change will drive the need for specific pharmaceutical chemicals utilized in biologics production.
Sustained implementation of cutting-edge manufacturing techniques, such 3D printing and ongoing manufacturing, could boost productivity, cut expenses, and raise the calibre of pharmaceutical chemical manufacturing. Drugs customized for specific patients may be developed due to personalized medicine and genomics developments. This may need the use of more specialized and customized medicinal ingredients.
Research could be streamlined, and pharmaceutical chemical production could be more efficiently run by integrating digital technology, data analytics, and artificial intelligence into drug discovery and development procedures. Growing awareness of environmental concerns may drive the adoption of green chemistry principles in the pharmaceutical industry. Pharmaceutical chemicals' production processes and specs could change as regulatory landscapes change, including quality standards.
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Key Findings of the Market Report
- Based on type analysis, the solvents segment is expected to drive demand for the pharmaceutical chemicals market.
- Based on drug type analysis, the generic segment is likely to create a market for pharmaceutical chemicals market.
- North America accounted for a majority of the global market in 2022,
- Pharmacology and biotechnology are expanding in Asia, and indigenous drug development is becoming more prevalent.
Global Pharmaceutical Chemicals Market: Growth Drivers
- Global healthcare spending continues to increase, which leads to an increasing demand for pharmaceuticals, particularly pharmaceutical compounds. As the public and private sectors invest heavily in healthcare infrastructure, the demand for pharmaceutical products rises.
- The pharmaceutical industry is developing novel and specialized pharmaceutical compounds as part of ongoing research and development efforts. Biotechnology and nanotechnology are two technological breakthroughs that contribute to creating novel, more potent medications.
- The rising prevalence of chronic health issues like diabetes, cancer, and cardiovascular disease drives prescription drug demand. Medicinal medications are made from a wide range of pharmaceutical compounds, which fuel the demand for those compounds.
- Businesses are sourcing raw ingredients and intermediates worldwide as the pharmaceutical industry grows internationally. Strict regulatory frameworks govern Pharmaceutics to ensure their safety and efficacy. These criteria require high-quality pharmaceutical chemicals, so goods that meet legal specifications are in greater demand.
Global Pharmaceutical Chemicals Market: Regional Landscape
- Pharmaceutical chemicals are big business in North America, playing a huge role in global pharmaceuticals. In North America, particularly in the United States, healthcare expenditures are among the highest in the world. The investment in healthcare infrastructure, research, and development has resulted in high demand for pharmaceuticals.
- Several pharmaceutical companies, research institutions, and biotechnology firms operate in the region, making it a pharmaceutical research and development hub. Pharmaceutical chemicals are in constant demand due to the need for cutting-edge pharmaceuticals.
- Pharmaceuticals in North America are regulated rigorously to protect consumers and ensure efficacy, safety, and quality. Pharmaceutic chemicals must meet these regulatory requirements to comply with them, making suppliers necessary. Biopharmaceuticals are growing rapidly in North America. Biologics contribute significantly to the demand for pharmaceutical chemicals that require complex manufacturing processes in this region.
- Pharma companies headquartered in North America are some of the largest in the world. Pharmaceutical chemicals are crucial to producing various drugs at these companies with extensive manufacturing operations. Personalized medicine and niche therapeutic areas are becoming increasingly important in specialty pharmaceuticals.
- Unique pharmaceutical chemicals tailored to specific patient populations are often used to develop such specialized drugs. The generic drug market in North America is well established. Drug manufacturers produce affordable alternatives to branded drugs by relying on stable supplies of pharmaceutical chemicals.
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Global Pharmaceutical Chemicals Market: Key Players
The pharmaceutical intermediates market and bioactive compounds market are experiencing significant growth. Both patients and healthcare workers benefit from pharmaceutical analytical chemistry advances. Key players in the sector also use mergers and acquisitions to expand their businesses.
- BASF SE
- Dishman Carbogen Amcis Ltd
- Johnson-Matthey plc
- Lonza Group
- Lanxess AG
- Jubilant Pharmova Limited
- Vertellus Holdings LLC
- Porton Pharma Solutions Ltd.
- Hikal Ltd.
- Celanese Corporation
- Easter Chemical Corporation
Key Developments
- In January 2024, Arecor Therapeutics plc will expand its ongoing, collaborative formulation study with one of the world's biggest chemical marketing and pharmaceutical companies.
- In December 2023, JB Chemicals acquired approximately 15 ophthalmology drugs from Novartis for Rs. 964 crores. As of January 2027, the acquisition will be effective. To license the same drug portfolio, Novartis will receive rupees 125 crore from JB Chemicals.
Global Pharmaceutical Chemicals Market: Segmentation
By Type Analysis
- Solvents
- Reagents/Catalysts
- KSMs/intermediates
- Building Blocks for APIs/Advanced intermediates
By Drug Type Analysis
- OTC
- Generic
- Super generic
- Proprietary
By Region
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East & Africa
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