Pharmaceutical Intermediates Market By Product (Bulk Drug Intermediates, Chemical Intermediates, Custom Intermediates), By End User (Pharmaceutical & Biotechnology Companies, Contract Manufacturing Organization, Research Laboratories) - Growth, Future Prospects & Competitive Analysis, 2019 – 2027
The pharmaceutical intermediates market is set to grow from US$ 25,965.0 million in 2018 to US$ 36,890.6 million by 2027 at a compound annual growth rate (CAGR) of 4.0% during the forecast period from 2019 to 2027. A significant rise in drug formulation and research activities and a supportive regulatory environment provided by global healthcare agencies will consolidate the pharmaceutical intermediates market during the forecast period.
Market Synopsis
A significant rise in drug formulation research and development (FR&D) activities to boost bulk intermediates market growth.
Bulk drug intermediates are the dominant product segment in the pharmaceutical intermediates market. The key driver associated with its market growth is the significant rise in drug formulation research and development (FR&D).
They are used as raw material in the manufacturing of bulk drugs or as a secondary product generated during the synthesis of an active pharmaceutical ingredient (API), having the potential to be used in various drug formulations. Custom intermediates are gaining huge traction on account of increased drug development and research activities and the burgeoning requirement for novel medicines to treat orphan diseases.
The rising prevalence of life-threatening diseases and stringent regulatory norms imposed by healthcare agencies worldwide propel pharmaceutical and biotechnology companies worldwide.
Pharmaceutical and biotechnology companies are spearheading the end-user segment for the pharmaceutical intermediates market. The key drivers associated with its dominating market growth are the rising prevalence of life-threatening diseases and the stringent regulatory norms pertaining to cGMP and cGLP guidelines for drug manufacturing imposed by healthcare agencies worldwide.
Research laboratories have shown impressive growth in the last two decades on account of increasing demand for pharmaceutical intermediates in developing novel medicines for treating rare and autoimmune diseases. Contract manufacturing organizations will highlight rampant growth during the forecast period on account of increasing demand for generic medicines due to the patent expiration of blockbuster drugs in the near future and a significant rise in drug manufacturing outsourcing activities to penetrate untapped markets worldwide.
The presence of well-developed healthcare infrastructure and rising public health awareness together drive market growth in North America.
North America presently holds 35.8% market growth and is the largest regional segment for the pharmaceutical intermediates market. The drivers responsible for its positive market growth are the presence of a well-developed healthcare infrastructure and rising public health awareness. Europe is placed second in the regional segment, representing 30.4% of the market, on account of a significant rise in the patient population seeking medical intervention for life-threatening diseases and the supportive regulatory environment provided by the European Medical Agency (EMA) for the pharmaceutical intermediates market.
Asia Pacific is accountable for 20.2% of the market share owing to proactive government policies resulting in flourishing drug manufacturing activities and serves as a lucrative market opportunity for western giants to enter into strategic collaboration and agreements with local players owing to the flourishing generic drug market in the Asia Pacific region.
Historical and Forecast Period
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The market is segmented by product, end-user, and geography.
