Pharmaceutical Intermediates Market Size, Share, Growth Analysis, By Product(Chemical intermediates, Bulk drug intermediates, and Custom intermediates), By Application(Analgesics, Anti-inflammatory drug, Cardiovascular drugs, Anti-diabetic drugs), By Region - Industry Forecast 2024-2031

Pharmaceutical Intermediates Market Driver

Increasing Incidence of Chronic Diseases

• The constantly increasing incidences of chronic diseases, as well as the aging population worldwide, are major factors that are expected to increase the need for drug formulations for the management of chronic diseases. According to the World Health Organization (WHO), the incidence of diabetes has increased from 108.0 million in 1980 to 422.0 million in 2014, and this number continues to rise. Also, according to the World Health Organization (WHO), the incidence of chronic diseases is expected to increase by 57% by 2020, indicating that a significant percentage of the population is suffering from chronic diseases. All these factors are driving the growth of the market during the forecast period.

Increasing Investments in Manufacturing

• Leading pharmaceutical companies in the pharmaceutical intermediates market have announced their intentions to invest in manufacturing facilities for various reasons, including increasing pharmaceutical intermediate production capacity, reducing corporate tax rates, and expanding their global footprint and presence in emerging economies. In July 2018, Pfizer invested USD 465.0 million to build a sterile injectable plant in Portage, Michigan. This is part of its earlier announcement in 2018 of plans to invest approximately USD 5 billion in US-based capital projects as a result of the country's recent corporate tax reforms. These factors will drive the expansion of the market during the forecast period.

Pharmaceutical Intermediates Market Restraint

High Cost Associated With The Acquisition Of Biopharmaceutical Drugs

• The high cost associated with the acquisition of biopharmaceutical drugs is a major factor hampering the growth of global pharmaceutical intermediates market. Also, the high capital investment required for the production of APIs is a major restraining factor that may hamper market growth.