Global Pharmaceutical Intermediates To Reach US$ 30 Bn In 2020 And Market Predicted To Exhibit A CAGR Of 4% During The Forecast Period 2020-2030
The rapidly increasing prevalence of chronic diseases around the world is expected to fuel the need for novel drugs and better treatment option would further drive the growth of the global market. Due to increasing demand for novel drugs option, there has been rising applications of drug intermediates and growing adoption and in the field of research and clinical studies.
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Leading players in the biotechnology and pharmaceutical sectors along with research institutes are now increasingly focusing on R&D activities relating to drug creation and development. Future Market Insights (FMI) in a new study has forecast the global pharmaceutical intermediates to reach US$ 30 Bn in 2020, with the market predicted to exhibit a CAGR of 4% during the forecast period (2020-2030)
Pharmaceutical intermediates are used in during manufacturing of bulk drugs as raw materials. These are the material produced during the synthesis of an active pharmaceutical ingredient (API). However, pharmaceutical and biotech companies can make use of these drug intermediates for the purposes of research and development (R&D). Moreover, there are different forms of pharmaceutical intermediates available such as high quality pharmaceutical intermediates, moderate quality pharmaceutical intermediates and premium quality intermediates. The high-quality and premium pharmaceutical intermediates are mainly used for R&D activities.
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COVID-19 pandemic is negatively impacting pharmaceutical intermediates sales due to supply chain disruptions caused due to extended period of lockdown. Nonetheless growth is expected to recover because an increasing number of pharma companies are engaging in research and development to find effective treatment and vaccination for COVID-19 virus.
Key Takeaways from Pharmaceutical Intermediates Marker Study
- The demand for chiral intermediates will continue rising through the forecast period
- East Asia will dominate in the global pharmaceutical intermediates market. China is expected to emerge as the most lucrative market for pharmaceutical intermediates in the region.
- Analgesics to remain primary application, expanding at Y-o-Y rate exceeding 6% through 2020
- The demand for Generic Drug Intermediates is expected to be higher than Branded Drug Intermediates
- Biotech and Pharma Companies will continue exhibiting high demand for pharmaceutical intermediates
“Rising drug development activities worldwide as well as increasing adaption of pharmaceutical intermediates as raw material are driving the growth of global Pharmaceutical Intermediates market” says the FMI Analyst
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Acquisitions, Partnerships and expansion are key Strategic Focus of Pharmaceutical Intermediates Market Players
Leading players in the Pharmaceutical Intermediates market on strengthening their market position though the Acquisition, Partnerships and expansion. For Instance,
- On April 2018, strategic collaboration between Porton Pharma Solutions, Ltd. And Codexis, Inc. to use Codexis’ biocatalyst technology within Porton’s global custom active pharmaceutical ingredients (API) and intermediate for manufacturing business.
- On June 2017, BASF SE is expanding its production capacity at Texas site, whereas it is also constructing new Ibuprofen API facility in Ludwigshafen, Germany, which is expected to be functional in 2021.
Key Participant Insights
The global market is set to expand its scope in the forecast period, due to rising prevalence of chronic disease globally and adoption of Pharmaceutical Intermediates at various stages of drug development by pharmaceutical manufacturers. In addition to this, cost effectiveness and rise in alternate methods for purification of oligonucleotide has augmented the sales of Pharmaceutical Intermediates.
The key market players covered by FMI include Chiracon GmbH, Aceto Corporation, Midas Pharma GmbH, Codexis, Lianhe Chemical Technology Co., Ltd, Sanofi S.A, Dishman Group And BASF SE, And Chemcon Speciality Chemicals Pvt. Ltd consolidating their positions through mergers, acquisitions and new product launches.