Worldwide Pharmaceutical Intermediates Industry to 2028 - Rising Prevalence of Chronic and Infectious Diseases is Driving Growth

Worldwide Pharmaceutical Intermediates Industry to 2028 - Rising Prevalence of Chronic and Infectious Diseases is Driving Growth
August 30, 2021 04:08 ET | Source: Research and Markets
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Dublin, Aug. 30, 2021 (GLOBE NEWSWIRE) -- The "Pharmaceutical Intermediates Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type; Applications; Distribution Channel, and Geography" report has been added to ResearchAndMarkets.com's offering.

The global pharmaceutical intermediates market is expected to reach US$ 37,290.33 million in 2028 from US$ 27,356.70 million in 2020. The market is estimated to grow with a CAGR of 3.95% during 2020-2028. Countries in Asia Pacific are emerging as attractive outsourcing locations for pharmaceuticals and biopharmaceuticals industries. Low manufacturing and operating costs in China and India are key factors driving the pharmaceutical manufacturing business in the region. Recent growth in the pharmaceutical industry in both these countries indicate a positive outlook for the pharmaceutical intermediates market. As per the India Brand Equity Foundation (IBEF), an initiative of the Ministry of Commerce & Industry of the Government of India, the value of the pharmaceutical industry in India is expected to reach US$ 100 billion by 2025. Moreover, pharmaceuticals export from India was worth US$ 16.3 billion in 2020; these exports include drug formulations, bulk drugs, intermediates, biologicals, and herbal products.

Flourishing domestic pharmaceutical market in APAC and increasing number of pipeline drugs are further opening new avenues for the contract manufacturers as well as generic drug manufacturing in the region. As per IBEF, India's domestic pharmaceutical market business revenue reached US$ 20.03 billion (INR 1.4 lakh crore) in 2019, with a year-on-year (y-o-y) increase of 9.8% from US$ 18.12 billion (INR 129,015 crore) in 2018. Additionally, to meet the growing demand, many contract-based organizations are expanding their manufacturing capabilities, further boosting the growth of the market. For instance, in January 2020, STA Pharmaceutical Co., Ltd., a subsidiary of WuXi AppTec, opened a new large-scale oligonucleotide API manufacturing facility in China. Thus, the emerging markets hold high potential and huge revenue generation opportunities for the pharmaceutical continuous manufacturing companies.

The pharmaceutical intermediates market, by type, is segmented into GMP, and non GMP. The GMP segment held the largest share of the market in 2020, whereas the same segment is anticipated to register the highest CAGR of 4.4% in the market during the forecast period.

In terms of application, the pharmaceutical intermediates market is segmented antibiotics, antipyretic analgesics, vitamins, and others. The antibiotics segment held the largest share of the market in 2020, also, this segment is anticipated to register the highest CAGR of 4.9% in the market during the forecast period.

The pharmaceutical intermediates market, by distribution channel, is segmented into distributor, and direct sales. The direct sales segment held the largest share of the market in 2020, and distributor segment is estimated to register the highest CAGR of 4.2% in the market during the forecast period.