According to the latest report by IMARC Group, titled “Pharmaceutical Fine Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global pharmaceutical fine chemicals market size reached US$ 132.6 Billion in 2022. Pharmaceutical fine chemicals are high-purity, specialized substances that are used in the pharmaceutical industry for various purposes, such as synthesis, formulation, and analysis of drugs. They comprise a wide range of substances, such as active pharmaceutical ingredients (APIs), excipients, intermediates, and reagents. They are essential to produce high-quality and efficacious drugs that assist in saving the lives of individuals. Besides this, these chemicals are employed in several stages of drug development, such as research and development (R&D), clinical trials, and commercial production.
Global Pharmaceutical Fine Chemicals Market Trends:
Presently, the rising prevalence of numerous chronic diseases, such as arthritis, cancer, diabetes, and stroke, among the masses across the globe represents one of the major factors supporting the growth of the market. Besides this, the growing demand for personalized medicine and specialty drugs among individuals is offering a favorable market outlook. Moreover, the rising adoption of pharmaceutical fine chemicals, as they aid in ensuring the purity, safety, and efficacy of drugs, is impelling the growth of the market. In line with this, the rising consumer awareness about the availability of a wide variety of treatment options is providing lucrative growth opportunities to industry players. Apart from this, the increasing focus on eco-friendly processes and materials in pharmaceutical production to reduce the environmental footprint is propelling the growth of the market. Looking forward, the market value is projected to reach US$ 195.3 Billion by 2028, expanding at a CAGR of 6.42% during 2023-2028.
- Based on the type, the proprietary exhibits a clear dominance in the market, followed by non-proprietary.
- On the basis of the product, the market has been segregated into active ingredients, basic building blocks, and advanced intermediates. At present, active ingredients hold the largest market share.
- Based on the size, big molecules represent the largest segment, followed by small molecules.
- On the basis of application, the market has been classified into cardiovascular, neurological, oncological, respiratory, gastrointestinal, musculoskeletal, and others.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being BASF SE, Borregaard ASA, CHEMADA Industries Ltd. (Turpaz), Denisco Chemicals Pvt Ltd, Dupont De Nemours Inc., Eastman Chemical Company, Evonik Industries AG, Koninklijke DSM N.V., Lonza Group AG, Solvay S.A., Syntor Fine Chemicals Ltd. (Aceto Corporation), and W. R. Grace and Co. (Standard Industries Inc.).
|Base Year of the Analysis
||Type, Product, Size, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||BASF SE, Borregaard ASA, CHEMADA Industries Ltd. (Turpaz), Denisco Chemicals Pvt Ltd, Dupont De Nemours Inc., Eastman Chemical Company, Evonik Industries AG, Koninklijke DSM N.V., Lonza Group AG, Solvay S.A., Syntor Fine Chemicals Ltd. (Aceto Corporation) and W. R. Grace and Co. (Standard Industries Inc.)
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