Global Pharmaceutical Chemicals Market Is Estimated To Witness Growth Owing To Rising Generic Drug Production
The global pharmaceutical chemicals market involves production of various chemical compounds and intermediates that are used in the development and manufacturing of pharmaceutical drugs and medicines. Some key chemicals produced include active pharmaceutical ingredients (APIs), bulk drugs, solvents, catalysts, alkalies, and other auxiliary substances. The market has witnessed significant growth in recent years due to increasing prevalence of chronic diseases and rise in generic drug production across both developed and emerging nations.
The Global pharmaceutical chemicals Market is estimated to be valued at US$ 137.76 Bn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the global pharmaceutical chemicals are Spectrum Chemical Mfg. Corp., BASF, AbbVie, Merck Group, Fine Chem Corporation, Allan Chemical corp, Spruhaa Healthcare, Kani Overseas Corporation, Tata chemicals, Lonza, Lanxess, Johnson Matthey, Jubilant Life Sciences, Hikal, Kenko Corporation, and CLARIANT. These players are focusing on new product innovations, expanding their production facilities and engaging in partnerships & collaborations to increase their market share.
The market provides numerous opportunities for key players in the form of Global Pharmaceutical Chemicals Market Size globally, increasing outsourcing of pharmaceutical manufacturing to emerging countries like India and China, and rising research & development activities for development of novel drug delivery systems. Players are setting up manufacturing units in high growth regions like Asia Pacific and Middle East & Africa to cater to increasing demand.
Globally, the pharmaceutical chemicals industry is expanding with growing pharmaceuticals demand from emerging nations. Established players from developed regions like North America and Europe are actively looking to expand their footprint in high potential developing countries through joint ventures, acquisitions and partnerships with local players.
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