Report : Pharmaceutical Intermediates Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (GMP, and Non GMP); Applications (Antibiotics, Antipyretic Analgesics, Vitamins, and Others); Distribution Channel (Distributor, and Direct Sales), and Geography
GMP Segment to Grow atRegister Highest CAGR During 2021–2028
According to our new research study on “Pharmaceutical Intermediate Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Applications, and Distribution Channel,” the market is expected to reach US$ 37,290.33 million by 2028 from US$ 27,356.70 million in 2020. It is estimated to grow at a CAGR of 4.2% from 2021 to 2028. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth. Factors such as rising prevalence of chronic diseases and infectious diseases, and escalating investment by pharmaceutical companies in R&D activities fuel the growth of the market. However, the high cost of drug manufacturing is the major factor hindersing the market growth.
In 2020, the GMP segment accounted for the global pharmaceutical intermediate market's a largerst market share of the global pharmaceutical intermediate market. The market growth for this segment can be attributed to increase in adoption of good manufacturing practices (GMP) by pharmaceutical companies. Good Manufacturing Practice (GMP) are regulations by the US Food and Drug Administration that ensure that pharmaceutical products are consistently produced as per the quality standards. These regulations are designed to reduce the risks involved in the production of pharmaceuticals that cannot be eliminated through testing the finished product.
Pfizer Inc., .; Sanofi, ; BASF SE, ; Lianhe Chemical Technology Co., Ltd, ; Dishman Carbogen Amcis Ltd, ; Codexis, ; Midas Pharma GmbH, ; chiracon GmbH, ; Dextra Laboratories Limited, ; and Vertellus Holdings LLC are among the leading companies operating in the pharmaceutical intermediate market. The companies are adopting inorganic and organic growth strategies to expand their global footprints and product portfolio to meet the rising demands for the pharmaceutical intermediate. For instance, in January 2021, Pritzker Private Capital, a leader in family direct investing, acquired the Vertellus group of companies, a specialty chemicals manufacturer. Headquartered in Indianapolis, Ind., Vertellus is a leading provider of specialty chemicals for the healthcare, personal care, food & agriculture, coatings, and transportation markets.
The report segments global Pharmaceutical Intermediate market as follows:
By Distribution Channel