Jan. 04, 2022
Pharmaceutical intermediates are compounds that form the basic building blocks of active pharmaceutical ingredients (APIs). Pharmaceutical intermediates are by-products of the API production process, and each reaction in the API production process produces a variety of different pharmaceutical intermediates. Pharmaceutical intermediates are used in the production of APIs and are also used by various pharmaceutical and biopharmaceutical companies for R&D purposes.
One of the factors driving the growth of the pharmaceutical intermediates market during the forecast period is the increasing burden of various diseases such as infectious and chronic diseases. This is expected to lead to a surge in the demand for pharmaceutical intermediates during the forecast period. According to a 2017 report by the Centers for Disease Control and Prevention, approximately 16.8 million visits were made for infectious and parasitic diseases.
Various R&D activities undertaken by pharmaceutical companies will further support the growth of the pharmaceutical intermediates market and help companies to expand their therapeutic areas, which in turn will drive the growth of the pharmaceutical intermediates market. In addition, patent expiration is also a major factor supporting the growth of the pharmaceutical intermediates market. Moreover, high spending on R&D activities and continuous demand for new and innovative therapies are expected to boost the growth of the pharmaceutical intermediates market during the forecast period.
Pharmaceutical intermediates are classified on the basis of product type, application, and distribution channel. Based on product type, the pharmaceutical intermediates market is segmented into GMP and non-GMP. based on application, the pharmaceutical intermediates market is segmented into antibiotics, antipyretics, vitamins, and others. On the basis of distribution channels, pharmaceutical intermediates are classified into direct sales and distributors.
The Asia Pacific is expected to be the third-largest and fastest-growing region during the forecast period due to the rising incidence of diseases, increasing investments in the healthcare sector and infrastructure, and increasing demand for pharmaceuticals. Developing countries such as China and India have larger manufacturing units of pharmaceutical intermediates and are expected to drive the growth of the pharmaceutical intermediates market during the forecast period.
The pharmaceutical intermediates market in Latin America and the Middle East & Africa is expected to grow moderately during the forecast period due to the prevalence of various diseases and increase in drug usage. Moreover, government support initiatives are expected to further support the growth of pharmaceutical intermediates in the near future.
Based on end-user, the global pharmaceutical intermediates market is segmented into the pharmaceutical industry, biotechnology industry, and chemical industry. Pharmaceutical intermediates are available in various forms such as medium quality pharmaceutical intermediates, high-quality intermediates, and premium intermediates. High-quality and premium quality drug intermediates are mainly used for research purposes.
The demand for drug intermediates is increasing in the global market due to the rapid growth in the biotechnology and life sciences sector and the increasing adoption and application of drug intermediates in research. Pharmaceutical and biotechnology companies as well as research companies around the world are increasingly focusing on R&D for drug discovery and development.