The Global Pharmaceutical Intermediates Market is driven by Growing Demand for Generic Drugs
The global pharmaceutical intermediates market provides a wide array of advantages associated with various pharmaceutical products. Pharmaceutical intermediates serve as raw materials for active pharmaceutical ingredients and play a vital role in drug discovery and development processes. They help accelerate drug synthesis and reduce costs compared to traditional drug manufacturing methods.
The global pharmaceutical intermediates market is estimated to be valued at US$ 43.67 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the global pharmaceutical intermediates market are Evonik, Borregaard AS, Sudarshan Pharma, A.R. Life Science, Actylis, Saurav Chemicals Ltd., Lianhetech, Midas Pharma GmbH, Sanofi , BASF SE, Chiracon GmbH, Lonza, Chemcon Speciality Chemicals Limited., Modepro India Pvt. Ltd., Lifechem Pharma, and Sarex. Key players focus on expanding production capacities and capabilities through partnerships and acquisitions to strengthen their market presence.
The growing demand for generic drugs globally due to lower costs than branded drugs is expected to drive the growth of the Global Pharmaceutical Intermediates Market Demand . As per industry estimates, around 80% of the global drugs demand is met through generic drugs. Availability of generic drugs is helping increase access to healthcare for millions globally.
With rising healthcare expenditure and a surge in chronic diseases, pharmaceutical companies are expanding to emerging markets in Asia Pacific, Latin America, Africa, and Middle East regions. They are investing heavily to develop local manufacturing capabilities through partnerships and new facilities. This is expected to boost the global pharmaceutical intermediates market during the forecast period.
Market Drivers
The rising geriatric population globally is a key driver for the pharmaceutical intermediates market. As per WHO, the number of people aged 60 years and older is expected to more than double from 12% to 22% between 2015 and 2050 globally. The elderly are more prone to various chronic conditions like cardiovascular diseases, diabetes, cancer, and neurological diseases, thereby driving the demand for pharmaceutical products and intermediates.
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