Albany, NY -- (SBWIRE) -- 05/09/2018 -- The global pharmaceutical chemicals market has been projected to witness industry players being dependent on mergers and acquisitions for the purpose of fortifying their supply network and improving their consumer base. Transparency Market Research (TMR) has authored a research publication on the market where players have been anticipated to make way into the cost-effective region of Asia Pacific. This could be because of a wealth of skilled labor available at a reasonable cost. Moreover, the region has testified of several small companies mushrooming therein. India incorporates the second most number of manufacturing plants approved by the Food and Drug Administration (FDA) outside of the U.S.
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The global pharmaceutical chemicals market has been prognosticated by TMR to garner a mammoth revenue of US$268.8 bn by 2025 at a CAGR of 6.1% during the forecast tenure 2017-2025. In 2017, it had secured a revenue of US$167.7 bn. On the basis of type of drug, the market could expect the generic segment to grow at a 10.9% stronger CAGR. By region, North America has been foreseen to rank higher by the final forecast year, taking cue from its 47.9% share achieved in 2016.
global pharmaceutical chemicals marketIncreasing Geriatrics Add to Demand for Generic and Proprietary Drugs
The growing percentage of geriatrics demanding proprietary and generic drugs has been envisioned to significantly improve the growth of the world pharmaceutical chemicals market. People beyond the age of 60 years regularly suffer from vitamin deficiency, diabetes, respiratory, cardiovascular, and other several chronic disorders. The recent years have witnessed the revolution of the pharmaceuticals industry because of the grand introduction of nanotechnology. This has helped manufacturing units to improve their efficiency and focus on the research and development of new drugs.
The world pharmaceutical chemicals market has been envisaged to gain a strong impetus due to the rise of different growth factors including constant research and development and the enhancement of healthcare infrastructure in several nations supported by their governments. The market growth could obtain strength owing to a number of developing nations witnessing an improvement in the income level of the urban population and the rising prevalence of non-communicable diseases.
Expensive Manufacturing Cost and Stringent FDA Norms Put Brakes on Growth
The growth of the international pharmaceutical chemicals market has been prophesied to be arrested by the high cost involved in the manufacture of building blocks for application programming interfaces (APIs) and advanced intermediates. Concerns related to the maintenance of an optimum quality, stabilizing investments for research and development in several nations, and inflexible regulatory standards authored by the FDA could also forestall the rise in the demand for pharmaceutical chemicals.
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However, a high revenue growth has been forecast to be attained by the international pharmaceutical chemicals market due to the patent expiration of branded drugs. Furthermore, proprietary drugs could provide a good boost to market growth on account of their benefits of earning the trust of consumers in the face of the increasing fear of counterfeits. These drugs also facilitate companies to engage the current marketing techniques and distribution systems.
The information presented in this review is based on a TMR report, titled "Pharmaceutical Chemicals Market (Type - Solvents, Reagents/Catalysts, KSMs/Intermediates, and Building Blocks for APIs/Advanced Intermediates; Drug Type - OTC, Generic, Super Generic, and Proprietary) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.