According to a recent report published by KD Market Insights, titled, Global Pharmaceutical Intermediates Market 2018: Market Size, Trends, Opportunity, Forecast 2018-2024, the global pharmaceutical intermediates market accounted for USD 27,356.1 Million in 2018 and is estimated to reach USD 38,457.2 Million by 2024. Moreover, it is anticipated to flourish at a CAGR of 6.1% during the forecast period, i.e. 2019-2024.
The global pharmaceutical intermediates market has been segmented based on the end user. In the end user segment, this market has been segmented into pharmaceutical companies, research labs, contract manufacturing organizations and others. Pharmaceutical companies segment accounted for the highest market share in 2018 and is anticipated to represent a notable market share in 2024. The global pharmaceuticals intermediates market for pharmaceutical companies segment was valued at USD 28,878.5 Million in 2018 at a CAGR of 6.1% from 2019 to 2024. Global pharmaceutical companies segment is likely to mask a growth rate of 1.3x between 2019 & 2024. Furthermore, global pharmaceutical companies segment will be receiving a growth opportunity of USD 13,639.1 Million between 2019 & 2024.
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Rising Prevalence of Diseases
Rising prevalence of various infectious and chronic diseases is resulting in increased demand for pharmaceuticals, which, in turn, is spearheading current and future growth of pharmaceutical intermediates market. According to the CDC (Centers for Disease Control and Prevention), there were around 16.8 million physician visits for infectious and parasitic diseases in the United States. Further, supportive government healthcare initiatives are believed to garner the growth of the market in the years ahead.
Launch of Innovative Pharmaceutical Intermediates
Pharmaceutical intermediates manufacturers are investing heavily in the development of new intermediates. The market is also expected to benefit from this significantly. In addition to this, patent expiry is also supposed to impact the growth of the global pharmaceutical intermediates market positively. Apart from this, continuous demand for new and innovative therapies are offering promising growth of pharmaceutical intermediates market over the forecast period.
In terms of geography, the pharmaceutical intermediates market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounted for the major share of the global pharmaceutical intermediates market. Moreover, Asia Pacific pharmaceutical intermediates market is expected to showcase lucrative growth in the upcoming years. China, U.S., and India are some of the major countries witnessing the augmenting demand for pharmaceutical intermediates market.
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The report also covers detailed competitive analysis of major market players of the global pharmaceutical intermediates market, such as Aceto, Eastar, BASF SE, Midas Pharma, A.R. Life Sciences Pvt. Ltd., Lianhetech, Arkema, Hangzhou FST Pharmaceutical, Chemcon Specialty Chemical Pvt. Ltd., Vertellus Holdings LLC and other key & niche players. The pharmaceutical intermediates market is witnessing a wide range of industry activities such as acquisition, expansion, product launch, and partnership across the globe.
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