Pune, India, June 21, 2021 (GLOBE NEWSWIRE) -- Pharmaceutical Intermediates Market: Key Insights
According to our new research study on “Pharmaceutical Intermediates Market to 2028 – Global Analysis and Forecast – by Type, Application, Distribution Channel, and Geography,” the Pharmaceutical Intermediates Market Size is projected to reach US$ 37,290.33 million by 2028 from US$ 27,356.70 million in 2020; it is expected to grow at a CAGR of 4.2% during 2020–2028.
Pharmaceutical Intermediates Market: Competition Landscape and Key Developments
Pfizer, Inc; Dishman Group; Dextra Laboratories Limited; Sanofi Winthrop Industries S.A; Vertellus Holdings LLC; BASF SE; Lianhetech; Codexis; Midas Pharma GmbH; and Chiracon GmbH are among the key companies operating in the pharmaceutical intermediates market. Leading players are focusing on the new product launch, expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
In December 2019, Vertellus acquired Bercen Chemicals, a leading US-based supplier of alkyl succinic anhydrides and additives used in the fuel, lubricant, and paper industries. On the back of this acquisition, Vertellus is aiming to expand its offerings for the North American market, along with serving the global fuel and lubricant additives market more effectively.
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In July 2019, BASF planned to invest in its second production plant for test-Butylamine (tBA) at BASF Specialty Chemicals Co. Ltd (BSNJ) in Nanjing, China. With this expansion, BASF’s global annual production capacity of tBA would increase by more than 30%. The plant is likely to resume operations in 2022 and would adopt advanced technologies of BASF to ensure the minimal generation of by-products in an advanced production process. BASF also operates tBA production plants in Antwerp, Belgium; and Geismar, Louisiana, US.
In 2020, North America dominated the pharmaceutical intermediates market. The market growth in the region is credited to the factors such as increasing demand for pharmaceutical intermediates to produce APIs and growing support through initiatives to enhance pharmaceutical production, in addition to the factors driving the global market. Also, the growing pharmaceuticals industry in a Mexico is serving significant growth opportunities for the market players in the region.
Based on type, the pharmaceutical intermediates market is segmented into GMP and non-GMP. The GMP segment held a larger share of the market in 2020 and is anticipated to register a higher CAGR in the market during the forecast period. The pharmaceutical intermediates market, by application, is segmented into antibiotics, antipyretic analgesics, vitamins, and others. The antibiotics segment held the largest share of the market in 2020, whereas the vitamins segment is anticipated to register the highest CAGR during the forecast period. Based on distribution channel, the pharmaceutical intermediates market is segmented as distributors and direct sales. The direct sales segment held a larger share of the market in 2020, while the distributor segment is estimated to register a higher CAGR during 2020–2028.
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Pharmaceutical Intermediates Market: Segmental Overview
Based on type, the GMP segment held a larger share of the pharmaceutical intermediates market in 2020. Good Manufacturing Practices (GMP) are regulations by the US Food and Drug Administration that ensure that pharmaceutical products are consistently produced as per the defined quality standards. These regulations are designed to reduce the risks involved in the production of pharmaceuticals. Under the GMP guidelines, all aspects of manufacturing— from the raw materials, premises, and equipment to the training and personal hygiene of the staff—are covered. Detailed written procedures are crucial for each process that might affect the quality of the final product. The growing developments are likely to develop such systems that would offer documented proof that correct procedures are constantly followed at every step in the manufacturing process - every time the product is produced. The market for the GMP segment is expected to grow at the fastest CAGR during the forecast period owing to continuously ongoing developments in GMP.
Increasing Adoption of AI-based Tools for Drug Discovery to be Future Trend in Pharmaceutical Intermediates Market:
Artificial intelligence (AI) is emerging as important tool as it helps understand the action mechanism of drugs. The use of AI tools has already been proven to accelerate the process of discovering new therapeutic candidates; the process that earlier used to take years for completion can now be accomplished within months using the AI. in addition to reducing the timelines of drug discovery, AI also helps enhance the agility of the research process, increase the accuracy of predictions regarding drug efficacy and safety, and boost the speed and precision of discovery as well as preclinical testing, thereby enabling more competitive R&D strategies.
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Many of pharmaceutical players are collaborating with AI companies for drug discovery. For instance, In June 2017, Genentech collaborated with GNS Healthcare to use the proprietary REFS casual machine learning and simulation AI platform of the later to identify and validate novel cancer drug targets. Similarly, GlaxoSmithKline (GSK) collaborated with Insilico Medicine, a Baltimore-based AI-driven company, to explore the AI capability of Insilico for easing the process of identification of novel biological targets.
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