Pharmaceutical Intermediates Market Expected to Grow at a CAGR of 4.2% to Reach US $ 37,290.33 Million from 2020 to 2028
NEW YORK, UNITED STATES, December 7, 2021 /EINPresswire.com/ – According to the new study by The Insight Partners on âPharmaceutical middle market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Applications and Distribution Channel âThe report highlights the prevailing trends in the market, along with the drivers and barriers related to the market growth. Factors such as the increasing prevalence of chronic diseases and infectious diseases, and increasing investments by pharmaceutical companies in R&D activities are fueling the market growth. However, the high cost of manufacturing the drugs is the major factor hampering the growth of the market.
Report Coverage (Details)
Market size value in – US $ 27,356.70 million in 2020
Market size value of – US $ 37,290.33 million by 2028
Growth rate – CAGR of 4.2% from 2021-2028
Forecast period – 2021-2028
Baseline year – 2021
Number of Pages – 185
Number of tables – 84
Number of graphs and figures – 72
Historical data available – Yes
Segments Covered – Type; Applications; Distribution channel and geography
Regional scope – North America; Europe; Asia Pacific; Latin America; AEM
Country Scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report Cover – Revenue Forecast, Company Rank, Competitive Landscape, Growth Factors & Trends
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Growing prevalence of chronic diseases and infectious diseases
Pharmaceutical intermediates are the building blocks of active pharmaceutical ingredients (APIs). These are raw materials that undergo molecular change or processing during the production of bulk drugs. Thus, the need for pharmaceutical intermediates increases with the increasing demand for drugs to treat chronic diseases. According to the Centers for Disease Control and Prevention (CDC), 6 in 10 adults in the United States suffer from at least one chronic disease such as cancer, heart disease, lung disease, stroke, neurological disease, diabetes and kidney disease. In addition, 4 in 10 adults in the country suffer from two or more chronic diseases. In addition, according to the press release from the European Alliance of Chronic Diseases (ECDA), in 2014, 9 out of 10 people in Europe died from chronic diseases. Thus, 70 to 80% of total health expenditure is devoted to the management of chronic diseases.
The increasing prevalence of infectious diseases, especially in Southeast Asia, is also likely to propel the demand for APIs in the coming years, eventually leading to the growth of the pharmaceutical intermediates market. For example, according to the revised report of the National Tuberculosis Control Program, around 4.4 lakh of patients died from tuberculosis in India in 2018, or 29% of the total 1.5 million deaths caused by tuberculosis. disease in the world. Thus, such a high prevalence of chronic diseases and infectious diseases reinforces the demand for drugs, ultimately highlighting the need for pharmaceutical intermediates.
COVID-19 started in Wuhan, China in December 2019 and since then it has spread at a rapid rate across the world. The United States, India, Brazil, Russia, France, United Kingdom, Turkey, Italy and Spain are among the most affected countries in terms of confirmed cases and reported deaths. COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans and business closures.
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The pharmaceutical intermediates market, by type, is segmented into GMP and non-GMP. GMP segment held the largest share of the market in 2020, while the same segment is expected to register the highest CAGR of 4.4% in the market during the forecast period.
The Pharmaceutical Intermediates market, by application, is segmented with Antibiotics, Antipyretic Pain relievers, Vitamins, and others. The antibiotics segment held the largest share of the market in 2020, and this segment is also expected to register the highest CAGR of 4.9% in the market during the forecast period.
On the basis of distribution channel, the pharmaceutical intermediates market has been segmented into distributor and direct sales. The direct sales segment held the largest share of the market in 2020, and the distributor segment is expected to register the highest CAGR of 4.2% in the market during the forecast period.
Pharmaceutical intermediates market: competitive landscape and key developments
Pfizer Inc.,.; Sanofi,; BASF SE,; Lianhe Chemical Technology Co., Ltd; Dishman Carbogen Amcis Ltd,; Codexis,; Midas Pharma GmbH,; chiracon GmbH,; Dextra Laboratories Limited,; and Vertellus Holdings LLC are among the leading companies operating in the mid-market pharmaceutical market.
Companies are adopting inorganic and organic growth strategies to expand their global footprint and product portfolio to meet growing demand for pharmaceutical intermediates. For example, in January 2021, Pritzker Private Capital, a leader in family direct investment, acquired the Vertellus group of companies, a manufacturer of specialty chemicals. Based in Indianapolis, Indiana, Vertellus is a leading supplier of specialty chemicals to the healthcare, personal care, food and agriculture, coatings and transportation markets.
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