Pharmaceutical Intermediates Market to Grow with a CAGR of 5.53% Globally through 2029

Surge in research and development activities is expected to drive the Global Pharmaceutical Intermediates Market growth in the forecast period.

According to TechSci Research report, “Pharmaceutical Intermediates Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the Global Pharmaceutical Intermediates Market stood at USD 41.35 billion in 2023 and is anticipated to grow with a CAGR of 5.53% in the forecast period. Initiatives taken by government based on pharmaceutical intermediates has led to favorable market conditions for the Global Pharmaceutical Intermediates Market. Several factors contribute to the growth of various pharmaceutical intermediates products.

One of the most significant schemes in place is the Production Linked Incentive (PLI) Scheme. This transformative initiative, launched by the Indian government, aims to bolster domestic manufacturing of critical Key Starting Materials (KSMs), Drug Intermediates, and Active Pharmaceutical Ingredients (APIs). By providing financial incentives to pharmaceutical companies, the scheme encourages investment in state-of-the-art infrastructure and technology, ultimately enhancing the self-reliance and competitiveness of the Indian pharmaceutical industry.

The PLI Scheme has already shown promising results, with 51 leading pharmaceutical companies receiving approval to participate. This widespread participation not only strengthens the bulk drug manufacturing sector in India, but also reinforces the nation's position as a global powerhouse in the production of essential medicines. With a focus on quality, affordability, and accessibility, the PLI Scheme plays a crucial role in ensuring a steady supply of essential drugs and reducing dependence on imports.

Through the PLI Scheme, the Indian government aims to create a conducive ecosystem for innovation, research, and development in the pharmaceutical sector. By fostering collaboration between industry, academia, and research institutions, the scheme encourages the development of cutting-edge technologies and novel drug formulations. This not only contributes to the growth of the pharmaceutical industry, but also enhances the overall healthcare ecosystem in India, benefiting millions of people.

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With the alarming rise in the prevalence of chronic diseases worldwide, there has been a substantial increase in the focus on research and development efforts. This growing emphasis has consequently led to a surge in the demand for pharmaceutical intermediates, which play a crucial role in the production of both innovative and generic drugs. These intermediates, meticulously crafted and carefully synthesized, serve as vital building blocks in the development process, enabling the creation of effective and life-saving medications. As a result, their significance in driving market growth cannot be overstated.

Global Pharmaceutical Intermediates Market is segmented into product, application, regional distribution, and company.

Based on its application, the analgesics segment held the largest market share in the forecast period. Analgesics, which are medications used to relieve pain, encompass a wide range of options. This includes over-the-counter non-steroidal anti-inflammatory drugs (NSAIDs) like ibuprofen, which are commonly used for mild to moderate pain relief, as well as prescription-grade opioids like morphine, which are typically reserved for severe pain management. The versatility of analgesics in addressing different levels of pain expands their market reach and allows for more tailored treatment options.

Based on region, Asia Pacific segment is expected to grow during the forecast period. 

The pharmaceutical intermediates market is experiencing significant growth due to the rising investments by market players in setting up manufacturing facilities. Nations like China, India, Japan, South Korea, and Singapore are particularly attractive due to the easy and cost-effective availability of factors of production and favorable government policies. These factors are boosting the growth of the pharmaceutical intermediates market during the forecast period.

Major companies operating in Global Pharmaceutical Intermediates Market are:

·         Aceto Corporation

·         BASF SE

·         Chiracon GmbH

·         Yin-sheng Bio-tech Co. Ltd.

·         Dishman Pharmaceuticals & Chemicals Ltd

·         Green Vision Life Sciences Pvt Ltd

·         Midas Pharma GmbH

·         Sanofi SA

·         Vertellus Holdings LLC.

·         Lonza Group AG

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“Pharmaceutical companies are exhibiting a growing inclination towards outsourcing the production of intermediates to specialized manufacturers, with a notable emphasis on emerging markets such as India and China. This shift in approach is underpinned by several factors contributing to the attractiveness of these regions as outsourcing destinations. There is a significant cost advantage associated with outsourcing to manufacturers based in India and China. These countries often offer lower production costs compared to developed markets, enabling pharmaceutical companies to achieve substantial cost savings without compromising on quality.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Pharmaceutical Intermediates Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Chemical Intermediates, Bulk Drug Intermediates, Custom Intermediates, Others), By Application (Analgesics, Anti-inflammatory Drug, Cardiovascular Drugs, Anti-Diabetic Drugs, Anti-Cancer Drugs, Others), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global Pharmaceutical Intermediates Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Pharmaceutical Intermediates Market.

 

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