Pharmaceutical Intermediates Market is expected to Cross US$ 53.4 Bn By 2031, Rise in Demand for Medicines to Treat Chronic Illnesses to Drive the Market, Says TMR

ALBANY, N.Y., Oct. 6, 2021 /PRNewswire/ -- Transparency Market Research: Pharmaceutical intermediates are medicines that are utilized as raw ingredients to make bulk pharmaceuticals. The majority of pharmaceutical intermediates are made from high-quality basic materials. In the pharmaceutical and cosmetic sectors, these intermediates are frequently utilized. The global pharmaceutical intermediates market is increasing due to the rising demand from these sectors. Pharmaceutical intermediates are widely utilized in the pharmaceutical industry for research and development activities.

Plasticizers, additives, resins, medicines, pesticides, and other pharmaceutical intermediates are increasingly being made from basic materials such as medicines, coal tar or petroleum. Several intermediates, on the other hand, can be made through organic synthesis, and utilized to make a variety of medicines and other goods. The global pharmaceutical intermediates market is projected to be driven by increased focus on research &development and rise in healthcare spending during the forecast period from 2021 to 2031. The market is expected to grow at a CAGR of 5.6% during the forecast period. North America is estimated to be a significant market for pharmaceutical intermediates during the forecast period. Increase in access to medical care and rise in prevalence of chronic illnesses are both contributing to the growth of the global pharmaceutical intermediates market in the North America region.

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Key Findings of Market Report

• Increased R&D Activities and Development of Innovative Medicines to Drive Global Market

Every year, the number of patients and diseases across the globe rises. Furthermore, the number of physician consultations for parasitic and infectious disorders has increased significantly, resulting in a surge in the demand for a variety of pharmaceuticals. High investmentsin R&D activities and development of novel medicines are further expected to boost the growth of the pharmaceutical intermediates market in the upcoming years. However, the rate of expansion is likely to slowdown by strict regulations for producers regarding product quality. Nonetheless, as healthcare costs grow and manufacturers place a greater emphasis on research and development, this trend is likely to continue.

• North America to Remain Significant Region in Pharmaceutical Intermediates Market

North America is expected to account for a large share of the pharmaceutical intermediates market, due to growing incidences of numerous infectious and chronic diseases, which have led to a rise in the demand for medicines. Moreover, there has been an increase in the number of pharmaceutical producers in Canada and the U.S., thus driving the pharmaceutical intermediates market.

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Pharmaceutical Intermediates Market: Growth Drivers

• Growth in the demand for critical medications to treat chronic illnesses is likely to fuel the growth of the global pharmaceutical intermediates market in the near future. The rising incidence of infectious illnesses, particularly in the Southeast Asia, is expected to boost the API demand in the upcoming years, thereby driving the pharmaceutical intermediates market.
• Industry and government investments in R&D activities capabilities and infrastructure are expected to generate profitable opportunities in the global pharmaceutical intermediates market. India's growing R&D pipeline provides considerable in-licensing potential for global firms.

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Pharmaceutical Intermediates Market: Key Competitors

Some of the key market players are

• A. R. Life Sciences Private Limited
• Chemcon Speciality Chemicals Ltd.
• Evonik Industries AG
• Albemarle Corporation
• Chiracon GmbH
• Koninklijke DSM N.V.

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Pharmaceutical Intermediates Market: Segmentation

Product

• Bulk Drug Intermediate
• Custom Intermediate

Application

• Cardiology
• Oncology
• Endocrinology
• Infectious Diseases
• Orthopaedics
• Neurology
• Gastroenterology
• Dermatology
• Inflammatory & Pain Management
• Ophthalmology

End User

• Pharmaceutical & Biotechnology Companies
• CROs & CMOs

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