Pune, India, June 21, 2021 (GLOBE NEWSWIRE) – Pharmaceutical intermediates market: key information
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 expected to reach US $ 37,290.33 million by 2028 compared to 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 SA; Vertellus Holdings LLC; BASF SE; Lianhetech; Codexis; Midas Pharma GmbH; and Chiracon GmbH are among the key companies operating in the pharmaceutical intermediates market. The main players are focused on launching new products, expanding and diversifying their market presence and acquiring new customers, thereby exploiting existing business opportunities.
In December 2019, Vertellus acquired Bercen Chemicals, one of the leading US suppliers of alkyl succinic anhydrides and additives used in the fuels, lubricants and paper industries. With this acquisition, Vertellus aims to expand its offering for the North American market, while serving the global fuel and lubricant additives market more effectively.
Get Exclusive Page Examples of Pharmaceutical Intermediates Market – COVID-19 Impact and Global Analysis with Strategic Insights on https://www.theinsightpartners.com/sample/TIPRE00005559/
In July 2019, BASF planned to invest in its second Test-Butylamine (tBA) production plant 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 expected to resume operations in 2022 and adopt advanced BASF technologies to ensure minimal generation of by-products in an advanced production process. BASF also operates tBA production plants in Antwerp, Belgium; and Geismar, Louisiana, United States.
In 2020, North America dominated the pharmaceutical intermediates market. The growth of the market in the region is attributed to factors such as increasing demand for pharmaceutical intermediates to produce APIs and growing support through initiatives to improve pharmaceutical production, in addition to the factors driving the market. global. In addition, the growing pharmaceutical industry in Mexico offers significant growth opportunities for market players in the region.
Based on type, the pharmaceutical intermediates market is segmented into GMP and non-GMP. GMP segment held larger market share in 2020 and is expected to register higher CAGR in the market during the forecast period. The Pharmaceutical Intermediates market, by application, is segmented into Antibiotics, Antipyretic Pain relievers, Vitamins, and others. The antibiotics segment held the largest share of the market in 2020, while the vitamins segment is expected to register the highest CAGR during the forecast period. Based on the distribution channel, the pharmaceutical intermediates market is segmented into distributors and direct sales. The direct sales segment held a larger share of the market in 2020, while the distributor segment is expected to register a higher CAGR during the period 2020-2028.
Download Sample PDF Brochure of Pharmaceutical Intermediates Market Growth Research Report at https://www.theinsightpartners.com/sample/TIPRE00005559/
Pharmaceutical Intermediates Market: Segment Overview
Based on type, the GMP segment held a larger share of the pharmaceutical intermediates market in 2020. Good Manufacturing Practices (GMP) are regulations of the United States Food and Drug Administration that ensure that pharmaceuticals are manufactured. consistently in accordance with defined quality standards. These regulations aim to reduce the risks associated with the production of pharmaceutical products. Under GMP guidelines, all aspects of manufacturing, from raw materials, premises and equipment to training and personal hygiene of personnel, are covered. Detailed written procedures are crucial for every process that could affect the quality of the final product. Growing developments are likely to develop such systems which would offer documented proof that correct procedures are constantly followed at every step of the manufacturing process – every time the product is manufactured. The GMP segment market is expected to grow at the fastest CAGR during the forecast period owing to the continued developments of GMP.
The growing adoption of AI-based tools for drug discovery will be the future trend in the pharmaceutical intermediates market:
Artificial intelligence (AI) is emerging as an important tool as it helps to understand the mechanism of action of drugs. It has already been proven that the use of AI tools accelerates the process of discovering new therapeutic candidates; the process that previously took years to complete can now be accomplished in a matter of months using AI. In addition to reducing drug discovery times, AI also helps improve the agility of the research process, increase the accuracy of predictions regarding drug efficacy and safety, and increase speed and accuracy. discovery as well as preclinical tests, thus allowing more competitiveness R&D strategies.
Direct Purchase Copy of Pharmaceutical Intermediates Market Research at https://www.theinsightpartners.com/buy/TIPRE00005559/
Many pharmaceutical players are collaborating with AI companies for drug discovery. For example, in June 2017, Genentech collaborated with GNS Healthcare to use the proprietary REFS machine learning and AI simulation platform to identify and validate new cancer drug targets. Likewise, GlaxoSmithKline (GSK) collaborated with Insilico Medicine, a Baltimore-based AI-focused company, to explore Insilico’s AI ability to facilitate the process of identifying new biological targets.
Browse related reports:
Pharmaceutical Solvents Market Forecast to 2028 – Impact of Covid-19 and Global Analysis – by Chemical Group (Alcohol, Amine, Esters, Ethers, Chlorinated Solvents, Others) – https://www.theinsightpartners.com/reports/ pharmaceutical-solvent-market
Molecular Cytogenetics Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Product (Consumables, Software & Services, Instruments, Kits & Reagents); Technology (Comparative Genomic Hybridization, In Situ Fluorescence Hybridization (FISH), Immunohistochemistry, Karyotyping, Others); Application (Oncology, Personalized medicine, Genetic disorders, Others); End user (hospitals, clinical and research laboratories, academic research institutes, pharmaceutical and biotechnology companies) – https://www.theinsightpartners.com/reports/molecular-cytogenetics-market
The Insight Partners is a single provider of industrial research in actionable intelligence. We help our clients find solutions to their research needs through our syndicated research and advisory services. We specialize in industries such as Semiconductors & Electronics, Aerospace & Defense, Automotive & Transportation, Biotechnology, Health Informatics, Manufacturing & Construction, Medical Devices , technology, media and telecommunications, chemicals and materials.
If you have any questions about this report or would like further information, please contact us:
Contact Person: Sameer Joshi
Email: [email protected]
Phone: + 1-646-491-9876
Press Release – https://www.theinsightpartners.com/pr/pharmaceutical-intermediates-market