Published on : Sep 13, 2019
The growth of the global pharmaceutical intermediates market is mainly ascribed to the increasing use of pharmaceutical intermediates in the manufacturing of bulk drugs. Various biopharma and pharma companies for research and development activities also use pharmaceutical intermediates.
Focus on Research and Development Activities is Likely to Add Impetus to the Market
Global pharmaceutical intermediate market is likely to gain impetus from the widespread prevalence of chronic diseases, infectious diseases, and others. According to the findings of a 2017 report on infectious and chronic diseases by Centers for Disease Control and Prevention, nearly 16.8 million visits by physicians took place in 2017 for various parasitic and infectious diseases.
In addition to that, global pharmaceutical intermediate market is considerably influenced by growing research and development activities, which are carried out by numerous pharmaceutical companies. It is further expected to bolster demand for pharmaceutical intermediates across the globe. Besides, expiry of patents is another vital growth for the market.
In 2017, Lianhetech Chemical Company made complete acquisition of Fine Industries Limited, and its subsidiaries, Fine Environmental Services Ltd and Fine Organics Ltd. Obtaining ownership of Fine Industriesis help Lianhetech to get closer to the markets of pharma and performance chemicals, and crop protection.
Geographically, Asia Pacific is anticipated to be one of the fastest growing in the global pharmaceutical intermediate market. Such growth is mainly due to the increasing incidences of diseases worldwide together with subsequent increase in demand for pharmaceuticals. Countries such as India, China, Japan have huge production units of these products and are expected to propel the growth of global pharmaceutical intermediate market.
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In all likelihood, North America will lead the global pharmaceutical intermediate market with her dominance during the period of review. Presence of major pharmaceutical companies in countries like Canada, the U.S has added impetus to the growth of the market in this region.