Market Research Report
Pharmaceutical Intermediates Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
|Pharmaceutical Intermediates Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)|
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 110 Pages
Delivery time: 2-3 business days
The Pharmaceutical Intermediates market studied is anticipated to grow with a CAGR of nearly 5.3%, during the forecast period.
Certain factors that are driving the market growth include increasing prevalence of chronic diseases and growing R&D initiatives and activities in the pharmaceutical industry.
The diverse range of diseases, primarily cardiovascular disease, infectious diseases, diabetes, and kidney-related complications, has a high prevalence, globally. Thus, the increasing prevalence of a diverse range of diseases among all age groups and its burden, globally, drives the demand for drug development and its market.
There has been an upsurge in the usage of advanced technologies, such as high throughput, bioinformatics and combinatorial chemistry for better drug candidate identification. Drug discovery has evolved significantly with emerging technologies, helping the process to become more refined, accurate, and less time-consuming. Due to automation, multi-detector readers, imaging hardware and software, high-throughput screening is one of the most widely used drug discovery technologies. Hence, owing to the rising R&D activities in the pharmaceutical industry, the usage of pharmaceutical intermediates is expected to observe a steady growth as well.
Cardiovascular diseases are the leading cause of deaths worldwide. According to the American College of Cardiology, cardiovascular disease (CVD) accounted for 800,000 deaths in the United States in 2017 alone. Among Americans, an average of one person dies from cardiovascular disease, every 40 seconds. Coronary heart disease (CHD) accounts for the majority of CVD deaths, followed by stroke and heart failure. According to the European Heart Network, every year, cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU).
This high prevalence of cardiovascular diseases is generating a huge demand for cardiovascular drugs, which, in turn, is expected to propel the growth in the need for various pharmaceutical intermediates. Hence, owing to the aforementioned factors, the concerned segment of the pharmaceutical intermediates market is expected to observe steady growth over the forecast period.
North American dominates the Pharmaceutical Intermediates products market primarily due to the advanced research and development facilities mainly across the United States and Canada. In addition, the rising prevalence of various chronic conditions is also fueling market growth across the region.
According to the 2017 report of Health Library, Cardiovascular disease, listed as the underlying cause of death, accounts for nearly 801,000 deaths in the US. That is about 1 of every 3 deaths in the US. About 2,200 Americans die of cardiovascular disease each day, an average of 1 death every 40 seconds.
However, the Asia-Pacific market is anticipated to witness the highest growth during the forecast period, due to increasing healthcare expenditure. Additionally, the low cost of manufacturing in China and India has resulted in the rise in the production facilities, attracting pharmaceutical and biotechnological giants to the Asia-Pacific region from across the world.
The global Pharmaceutical Intermediates market is competitive and consists of a few major players. Companies like Aceto Corporation, BASF SE, Chiracon GmbH, Yin-sheng Bio-tech Co., Ltd., Dishman Group, Green Vision Life Sciences, Midas Pharma GmbH, Sanofi SAIS, Vertellus Holdings LLC., among others, hold the substantial market share in the market.