Pharmaceutical Intermediates Market (Types - GMP, and Non-GMP; Applications - Vitamins, Antibiotics, Antipyretic Analgesics, and Others; End-Users - Pharmaceutical Companies, Research Labs, Contract Manufacturing Organizations, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024. The global pharmaceutical intermediates market is projected to grow at a CAGR of 4.20% over the forecast period of 2018-2024.
Pune, India -- (SBWIRE) -- 05/09/2019 -- The report on Pharmaceutical Intermediates Market by types (GMP, and non GMP), applications (vitamins, antibiotics, antipyretic analgesics, and others), end-users (pharmaceutical companies, research labs, contract manufacturing organizations, and others) trends analysis and forecasts up to 2024 studies the market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest of the World. The growth in the world market is primarily driven by significant contribution by North America (Leading region) region to this market. The global pharmaceutical intermediates market is projected to grow at a CAGR of 4.20% over the forecast period of 2018-2024.
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Pharmaceutical Intermediates Market: Industry Insights
Pharmaceutical intermediates are chemical ingredients used in making medicines for the treatment of diseases. It is produced as a by-product at the time of API production. These pharmaceutical intermediates are used for development and research purpose by numerous biopharma and pharma companies. It is even used in the bulk production of drugs.
Pharmaceutical Intermediates Market: Drivers and Restraints
Growing numbers of diseases such as chronic diseases, infectious diseases, and others drive the demand for pharmaceutical intermediates market. As per WHO chronic diseases are the leading reasons for death globally by the end of 2020, and 71% of deaths owing to ischemic heart disease (IHD), 75% of deaths owing to stroke, and 70% of deaths owing to diabetes will occur in developing countries. Further, several developments and research activities are carried out by various pharmaceuticals industries that support the growth of this market. Further, this factor will also help the businesses to develop their therapeutic area which promotes the growth of the market. However, strict regulatory policies are predicted to hamper the growth of the pharmaceutical intermediate market. Growth in a number of cardiovascular and neurological diseases is expected to generate growth opportunity over the forecast period.
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Pharmaceutical Intermediates Market: Segmentation
The global pharmaceutical intermediates market is divided into types, applications, and end-users. Further, on the bases of types, the segment is further classified into GMP and non-GMP. On the basis of applications, the segment is bifurcated into vitamins, antibiotics, antipyretic analgesics, and others. Addition to this the end-user segments includes pharmaceutical companies, research labs, contract manufacturing organizations, and others. Pharmaceutical companies hold the largest market share in this market. Rapid growth in pharmaceutical companies is driving the growth for pharmaceutical intermediates market.
Pharmaceutical Intermediates Market: Regional Insights
In terms of geographies, North America holds the largest market share in the global pharmaceutical intermediates market followed by Europe and the Asia Pacific. In North America region factors such as increasing numbers of pharmaceutical companies and growth in numbers of diseases drive the market growth in the North America region. In Europe region owing to technological advancement boosts the market growth for the pharmaceutical intermediates market. Further, in Asia Pacific rapid development in medical infrastructures fuels the market growth.
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Pharmaceutical Intermediates Market: Competitive Analysis
Some of the major vendors in the global pharmaceutical intermediates market are Vertellus Holdings LLC, A.R. Life Sciences Private Limited, Midas Pharma GmbH, Lianhetech, Chemcon Specialty Chemicals Pvt. Ltd, Codexis, Inc., Cycle Pharma, Aceto Corporation, Sanofi Winthrop Industrie S.A., Easter Chemical Corporation, and ZCL Chemicals Ltd.
- Growing Incidences of Various Diseases Such as Chronic Diseases, Infectious Diseases.
- Growing Geriatric Population.
- Rising Demand for Innovative and Targeted Therapies.
- Strict Government Regulation Related to Pharmaceutical Industry.
- Rising Research and Development Activity Globally.