Rising Demand Drives Pharmaceutical Chemicals Market to USD 339.3 Billion by 2031, CAGR Set at 5.8% | TMR

Pharmaceutical chemicals could be manufactured in a more sustainable and environmentally friendly way, increasing demand in coming years.

WILMINGTON, DE, UNITED STATES, December 18, 2024 /EINPresswire.com/ -- The pharmaceutical chemicals market was valued at US$ 204.3 billion in 2022 and is projected to grow at a CAGR of 5.8% between 2023 and 2031, reaching US$ 339.3 billion by the end of the forecast period. The rising demand for biopharmaceuticals—such as monoclonal antibodies, gene therapies, and cell-based therapies—is expected to significantly influence market growth. This trend will drive the demand for specialized pharmaceutical chemicals essential for biologics production.

Sustained implementation of cutting-edge manufacturing techniques, such 3D printing and ongoing manufacturing, could boost productivity, cut expenses, and raise the calibre of pharmaceutical chemical manufacturing. Drugs customized for specific patients may be developed due to personalized medicine and genomics developments. This may need the use of more specialized and customized medicinal ingredients.

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Research could be streamlined, and pharmaceutical chemical production could be more efficiently run by integrating digital technology, data analytics, and artificial intelligence into drug discovery and development procedures. Growing awareness of environmental concerns may drive the adoption of green chemistry principles in the pharmaceutical industry. Pharmaceutical chemicals' production processes and specs could change as regulatory landscapes change, including quality standards.

Key Findings of the Market Report

• Based on type analysis, the solvents segment is expected to drive demand for the pharmaceutical chemicals market.

• Based on drug type analysis, the generic segment is likely to create a market for pharmaceutical chemicals market.

• North America accounted for a majority of the global market in 2022,

• Pharmacology and biotechnology are expanding in Asia, and indigenous drug development is becoming more prevalent.

Global Pharmaceutical Chemicals Market: Growth Drivers

• Global healthcare spending continues to increase, which leads to an increasing demand for pharmaceuticals, particularly pharmaceutical compounds. As the public and private sectors invest heavily in healthcare infrastructure, the demand for pharmaceutical products rises.

• The pharmaceutical industry is developing novel and specialized pharmaceutical compounds as part of ongoing research and development efforts. Biotechnology and nanotechnology are two technological breakthroughs that contribute to creating novel, more potent medications.

• The rising prevalence of chronic health issues like diabetes, cancer, and cardiovascular disease drives prescription drug demand. Medicinal medications are made from a wide range of pharmaceutical compounds, which fuel the demand for those compounds.

• Businesses are sourcing raw ingredients and intermediates worldwide as the pharmaceutical industry grows internationally. Strict regulatory frameworks govern Pharmaceutics to ensure their safety and efficacy. These criteria require high-quality pharmaceutical chemicals, so goods that meet legal specifications are in greater demand.

Global Pharmaceutical Chemicals Market: Key Players

The pharmaceutical intermediates market and bioactive compounds market are experiencing significant growth. Both patients and healthcare workers benefit from pharmaceutical analytical chemistry advances. Key players in the sector also use mergers and acquisitions to expand their businesses.

• BASF SE
• Dishman Carbogen Amcis Ltd
• Johnson-Matthey plc
• Lonza Group
• Lanxess AG
• Jubilant Pharmova Limited
• Vertellus Holdings LLC
• Porton Pharma Solutions Ltd.
• Hikal Ltd.
• Celanese Corporation
• Easter Chemical Corporation

Key Developments

• In January 2024, Arecor Therapeutics plc will expand its ongoing, collaborative formulation study with one of the world's biggest chemical marketing and pharmaceutical companies.

• In December 2023, JB Chemicals acquired approximately 15 ophthalmology drugs from Novartis for Rs. 964 crores. As of January 2027, the acquisition will be effective. To license the same drug portfolio, Novartis will receive rupees 125 crore from JB Chemicals.

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Global Pharmaceutical Chemicals Market: Segmentation

By Type Analysis

• Solvents
• Reagents/Catalysts
• KSMs/intermediates
• Building Blocks for APIs/Advanced intermediates

By Drug Type Analysis

• OTC
• Generic
• Super generic
• Proprietary

By Region

• North America
• Latin America
• Asia Pacific
• Europe
• Middle East & Africa

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