Published: Jul, 2018
The global market for adhesive is demonstrating a highly competitive business structure, finds a new research study by Transparency Market Research (TMR). With a large pool of players, the completion within this market is likely to increase further over the next few years. BASF SE, Lanxess, Lonza Group, Johnson Matthey, Dishman Group, Porton Fine Chemicals, Vertellus Holdings LLC, and Jubilant Life Sciences Ltd. are some of the key companies in this market. These participants are focusing on innovation, technological advancements, and regional expansion to strengthen their positions, states the research report.
The research study states that the global pharmaceutical chemicals market was worth US$167.71 bn in 2017. Expanding at an impressive CAGR of 6.10% during the period from 2017 to 2025, the market is projected to reach S$268.83 bn by the end of the forecast period. Solvents, KSMs/intermediates, reagents/catalysts, and building blocks for APIs/advanced intermediates are the main products available in this market. The demand for building blocks for APIs/advanced intermediates is likely to rise in the years to come, notes the market study.
North America to Retain Position
Geographically, Asia Pacific, North America, the Middle East and Africa, Europe, and Latin America have emerged as the main regional markets for pharmaceutical chemicals across the world. Among these, North America is leading the global market and this scenario is likely to remain the same over the next few years. In 2016, the North America market for pharmaceutical chemicals acquired a share of nearly 48% in the overall market. The rise in the demand from consumers in the region, especially from developed countries, such as the U.S. and Canada, is the key factor that has been driving the market for pharmaceutical chemicals in North America and is expected to continue doing so over the forthcoming years. Europe and Asia Pacific are also expected to witness considerable growth in their respective markets in the near future, states the market study.
Rise in Prevalence of Non-communicable Diseases Fueling Demand
“The significant increase in the prevalence of non-communicable diseases is the main factor behind the growth of the global pharmaceutical chemicals market,” says an analyst at TMR. Apart from this, the rise in the global geriatric population, sure in life expectancy, augmented disposable income of consumers in BRICS nations, escalated expenditure on healthcare by various governments, and the ongoing research and development on pharmaceutical chemicals are also expected to support this market in the years to come, reports the research study.
The review is based on a report by Transparency Market Research, titled “Pharmaceutical Chemicals Market (Type - Solvents, Reagents/Catalysts, KSMs/Intermediates, and Building Blocks for APIs/Advanced Intermediates; Drug Type - OTC, Generic, Super Generic, and Proprietary) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
The global pharmaceutical chemicals market is segmented into:
- Building Blocks for APIs/Advanced Intermediates
By Drug Type
- Super Generic
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Latin America (LATAM)
- Rest of LATAM
- Middle East and Africa (MEA)
- Saudi Arabia
- Rest of GCC
- Rest of MEA
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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