Pharmaceutical Chemicals Global Market
Overview and Scope
Pharmaceutical chemicals are natural or synthetic substances that are typically present in human and veterinary medications. They are employed in the creation, conception and synthesis of biologically active compounds with therapeutic potential.
Sizing and Forecast
The pharmaceutical chemicals market size has grown strongly in recent years. It will grow from $129.54 billion in 2023 to $138.71 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to advancements in drug discovery, aging population, regulatory changes, increasing chronic diseases.
The pharmaceutical chemicals market size is expected to see strong growth in the next few years. It will grow to $182.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to personalized medicine, biopharmaceuticals and biosimilars, emerging markets, digital health and telemedicine. Major trends in the forecast period include precision drug manufacturing, gene and cell therapies, drug repurposing, vaccine development and production.
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Segmentation & Regional Insights
The pharmaceutical chemicals market covered in this report is segmented –
1) By Product Type: Solvents; Reagents Or Catalysts; KSMs Or Intermediates; Building Blocks For APIs Or Advanced Intermediates
2) By Drug Type: Proprietary; Non-Proprietary
3) By Application: Cardiovascular Disease; Neurological Disease; Oncological Disease; Respiratory Disease; Gastrointestinal Disease; Musculoskeletal Disease
North America was the largest region in the pharmaceutical chemicals market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in pharmaceutical chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing prevalence of neurological disorders is expected to propel the growth of the pharmaceutical chemicals market. A neurological disorder is a condition that affects the central and peripheral nervous system, including the brain, spinal cord and nerves found throughout the human body. Pharmaceutical chemicals are used to formulate and create neurological disorder drugs that help treat pain and movement disorders. For instance, according to the 2023 Alzheimer’s Disease Facts and Figures report by Alzheimer’s Association, a US-based voluntary health organization providing Alzheimer’s care and support, about 6 million Americans are living with Alzheimer’s in 2023 and is estimated to rise to nearly 13 million by 2030. Further, Alzheimer’s and other dementias will cost the nation $345 billion in 2023, estimated to reach $1 trillion by 2050. Therefore, the increasing prevalence of neurological disorders drives the pharmaceutical chemicals market.
Key Industry Players
Major players in the pharmaceutical chemicals market are BASF SE, The Dow Chemical Company, Abbott Laboratories, Johnson Matthey PLC, Evonik Industries AG, Eastman Chemical Company, Koninklijke DSM N.V, Lanxess AG, Albemarle Corporation, Lonza Group AG, Clariant AG, W. R. Grace and Co, Jubilant Life Sciences Ltd., Sumitomo Seika Chemicals Co Ltd., Borregaard ASA, WeylChem International GmbH, Vertellus Holdings LLC, CABB Group GmbH, Dishman Carbogen Amcis Ltd., Hikal Ltd., Porton Fine Chemicals Ltd., Denisco Chemicals Pvt Ltd., CHEMADA Industries Ltd., Valaji Pharma Chem, Syntor Fine Chemicals Ltd., Kenko Corporation.
The pharmaceutical chemicals market report table of contents includes:
1. Executive Summary
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