Growing preference for generic drugs to augment adoption of pharmaceutical intermediaries, thus paving way for increased investments in this domain
DUBAI, UAE / ACCESSWIRE / January 19, 2021 / ESOMAR certified market research and consulting firm Future Market Insights (FMI) has recently published the global pharmaceutical intermediates report. According to the study, the market is likely to grow by nearly 1% from 2020 to reach 4.1% in 2021. Projections are likely to remain strong over the next 10 years, registering a CAGR of over 4% between 2020 and 2030.
Demand for pharmaceutical intermediaries is being catapulted by prolific advancements across the generic and branded drugs segments respectively. Substantial developments are witnessed across the Asian markets, especially in India, which is the world's leading generic drugs market valued at over US$ 19 billion as of 2019, prompting key manufacturers to deepen penetration across the market.
In addition, promising opportunities abound across the analgesics category. Future Market Insights anticipated the segment to account for three out ten pharmaceutical intermediate ingredient sales throughout the forecast period. Thus, according to FMI, manufacturers are enhancing research & development capacities to introduce various formulations to be used for a wide range of ailments.
"Complicating nature of chronic and infectious ailments is prompting healthcare giants to investigate more intricate drug combinations, thus heightening usage of pharmaceutical intermediates in various formulations," comments the FMI analyst.
Request a report sample consisting of nearly 300 pages to gain comprehensive insights on https://www.futuremarketinsights.com/reports/sample/rep-gb-4515
Key Takeaways from the Report
- Bulk drug pharmaceutical intermediaries to register almost 20 million unit sales by 2021-end
- Generic drug intermediaries to yield over 70% revenue share through 2030
- By end-users, CMO/CROs to remain primary stakeholders, exhibiting over 4% Y-o-Y growth
- US to hold 90% share in 2021, facilitated by heightened investments in the pharmaceuticals industry in wake of reduced tax rates. Growth to remain positive through 2030
- UK likely to demonstrate nearly 3% Y-o-Y growth, backed by high applications across generic drugs formulations
- Germany and France to register stable outlook, collectively accounting for 44% revenue share by 2021
- Japan and China to remain bright spots, accounting for almost 9 million unit sales by 2021-end
Pharmaceutical Intermediates Market- Key Drivers
- Compounding incidence of chronic ailments such as heart failures and kidney disorders accelerating R&D for developing advanced drug formulations, thus stimulating growth
- Burgeoning clinical research in biotechnology and life sciences to promote increased pace of innovations
- COVID-19 pandemic to provide additional fillip, attributed to increased scramble for developing effective anti-viral drugs
Pharmaceutical Intermediates Market- Key Restraints
- Over compliance with numerous regulatory frameworks may delay drug launches, preventing effective uptake of pharmaceutical intermediates
- Heightened costs of procuring raw pharmaceutical intermediate materials discourages effective uptake by key pharmaceutical companies
Explore more about the pharmaceutical intermediaries market consisting of 42 tables and 238 figures along with the table of contents. You may also find detailed segmentation on https://www.futuremarketinsights.com/askus/rep-gb-4515
The global pharmaceutical intermediates market report has profiled the following prominent manufacturers: Cambrex Corporation, Sanofi, Interchem., Aceto Corporation, Arkema Inc., Pfizer, Dextra Laboratories Limited, Chiracon GmbH, Codexis Inc., Dishman Group and Midas Pharma GmbH among others.
Key expansion strategies employed by the aforementioned players include expansion and acquisition drivers, product launches and capacity expansion initiatives to name a few. Moreover, these players are increasingly foraying into the emerging economies of the Asia-Pacific region, owing to the high prevalence rate of chronic and infectious diseases which has accelerated investments in providing advanced medical care.
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE: Future Market Insights