Pharmaceutical Intermediates Market is Poised to Witness High Growth owing to Rising Demand for Generic Drugs
They provide advantage of stability and facilitate bulk manufacturing of drugs. The rising prevalence of chronic diseases and increasing focus of pharmaceutical companies on generic drugs have augmented the demand for pharmaceutical intermediates.
Global Pharmaceutical Intermediates market is estimated to be valued at US$43.67 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period of 2024 to 2031.
The Global Pharmaceutical Intermediates Market is driven by the increasing demand for generic drugs across the globe. Generic drugs help reduce healthcare costs significantly as they are usually cheaper than their brand-name counterparts. According to a report by WHO, around half the medicines consumed globally are generic medicines. Pharmaceutical intermediates play a vital role in manufacturing generic drugs and help pharmaceutical companies to produce low-cost drugs at scale. Widening access to healthcare owing to supportive government initiatives is also fueling the consumption of generic drugs and subsequently intermediates.
Key Takeaways
Key players operating in the Global Pharmaceutical Intermediates are Evonik, Borregaard AS, Sudarshan Pharma, A.R. Life Science, Actylis, Saurav Chemicals Ltd., Lianhetech, Midas Pharma GmbH, Sanofi , BASF SE, Chiracon GmbH, Lonza, Chemcon Speciality Chemicals Limited., Modepro India Pvt. Ltd., Lifechem Pharma, Sarex, LANXESS.
Key opportunities in the market include expanding production capacities in developing countries to cater to the rising demand for generic drugs. Many players are making strategic investments and entering into long-term partnerships for technology transfers and cGMP approvals to establish or expand their manufacturing capabilities in high-growth emerging Pharma hubs like India and China.
Global expansion remains a top priority for leading Pharmaceutical Intermediates Market Size producers to consolidate their presence. Mergers and acquisitions allow players to integrate vertically and strengthen their product portfolios. It also helps gain access to new markets which bodes well for industry's sustained growth over the forecast period.
Market Drivers
Rising prevalence of chronic diseases globally has augmented the demand for pharmaceutical drugs. According to WHO, chronic diseases accounted for nearly 71% of all global deaths in 2019. Pharmaceutical intermediates as chemical precursors play a vital role in facilitating bulk production of active drug compounds to cater to this rising needs.
Market Restraints
Stringent quality regulations associated with pharmaceutical industry pose certain challenges for manufacturers. Intermediates need to meet stringent quality and safety standards as per cGMP to be used in pharmaceutical manufacturing. This increases production and compliance costs for players.
Segment Analysis
The global pharmaceutical intermediates market is segmented based on application into analgesics, antibiotics, antipyretic drugs, vitamins, and others. The antibiotics sub-segment currently dominates the market and is expected to maintain its dominance over the forecast period due to the rising prevalence of infectious bacterial diseases and increasing antibiotic consumption globally.
Global Analysis
Regionally, Asia Pacific dominates the pharmaceutical intermediates market and is expected to witness the fastest growth over the forecast period. This can be attributed to the rising healthcare expenditure, increasing penetration of health insurance, growing incidence of chronic diseases, and increasing generic drug production in major Asia Pacific economies like India and China. Europe is another prominent regional market driven by the presence of well-established pharmaceutical players and stringent regulations regarding the production of pharmaceutical intermediates in the region.
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