What is the global market size of Pharmaceutical Intermediates Market?

Pharmaceutical Intermediates Market size was valued at USD 29 billion in 2021 and is poised to grow from USD 30.6 billion in 2022 to USD 52.6 billion by 2030, growing at a CAGR of 6.3% in the forecast period (2023-2030).

What is the key driver of Global Pharmaceutical Intermediates Market?

Increasing Incidence of Chronic Diseases

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

Report ID: SQMIG35I2111 | Region: Global | Published Date: July, 2024
Pages: 157 | Tables: 65 | Figures: 75

Pharmaceutical Intermediates Market News

In February 2022, the Food and Drug Administration (FDA) approved Mylan Pharmaceuticals Inc., Vitaris Inc., has given the green light for an Abbreviated New Drug Application (ANDA) for Cyclosporine Ophthalmic Emulsion 0.05%. Allergan Restasis is the first generic version to treat dry eye disease.

In February 2022, Cordenpharma purchased three manufacturing facilities from Vifor Pharma. These facilities will eventually be named Corden Pharma Friborg SA in Switzerland (with a branch in Ettingen) and Corden Pharma Lisbon SA in Portugal.

Pharmaceutical Intermediates Market Report Snapshots

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Pharmaceutical Intermediates Market size was valued at USD 30.6 billion in 2022 and is poised to grow from USD 32.53 billion in 2023 to USD 53.03 billion by 2031, growing at a CAGR of 6.30% in the forecast period (2024-2031).

Global pharmaceutical intermediates market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of global pharmaceutical intermediates market. 'BASF SE', 'Lonza Group AG', 'Thermo Fisher Scientific Inc.', 'Wuxi AppTec Co. Ltd.', 'Merck KGaA', 'Dishman Group', 'Codexis Inc.', 'Cambrex Corporation', 'Hikal Ltd.', 'Chemcon Speciality Chemicals Ltd.', 'Porton Fine Chemicals Ltd.', 'Divis Laboratories Ltd.', 'Pfizer CentreOne', 'Aurobindo Pharma Ltd.', 'Sanofi SA', 'Lianhe Chemical Technology Co. Ltd.', 'Jiangsu Hengrui Medicine Co. Ltd.', 'Shandong Xinhua Pharmaceutical Co. Ltd.', 'WuXi STA', 'Zhejiang NHU Co. Ltd.'

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.

The cost of heart disease to the nation's health care system is increasing. A key trend in the pharmaceutical intermediates market is the rise in chronic cardiovascular conditions such as heart failure and coronary artery disease. According to a paper published in July 2020 in the Curious Journal of Medical Science, ischemic heart disease (IHD) is the leading cause of death worldwide. Ischemic heart disease affects about 126 million people globally. It is expected that by 2030, there will be more than 1,845 cases of ischemic heart disease per 100,000 persons worldwide.

On the basis of region, global pharmaceutical intermediates market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. North America dominated the global pharmaceutical intermediates market and is expected to maintain its dominance during the forecast period. North America is dominating the market due to the presence of various pharmaceutical companies, research centres, and laboratories, and rapidly growing CMOs & CROs in the US and Canada. Also, rising investments by the government and private players to boost the growth of the market.

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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

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