Pharmaceutical Intermediates Market Size, Share, Growth Analysis, By Product(Chemical intermediates, Bulk drug intermediates, and Custom intermediates), By Application(Analgesics, Anti-inflammatory drug, Cardiovascular drugs, Anti-diabetic drugs), By Region - Industry Forecast 2024-2031

Pharmaceutical Intermediates Market size was valued at USD 30.6 billion in 2022 and is poised to grow from USD 32.53 billion in 2023 to USD 53.03 billion by 2031, growing at a CAGR of 6.30% in the forecast period (2024-2031).

Pharmaceutical intermediates are drugs that are used as raw materials in the manufacture of bulk drugs. They are commonly used to refer to the material formed during the synthesis of the active pharmaceutical ingredient (API) prior to the processing of the API. These are usually made from high-quality basic ingredients. The intermediates are widely used in the pharmaceutical and cosmetic industries. The global market is developing due to the increasing demand in these industries. These are widely used for research and development in the pharmaceutical industry. Pharmaceutical intermediates are produced using basic materials such as coal tar or petroleum to make pesticides, drugs, resins, additives, plasticizers, and other products. However, various intermediate products can be produced during organic synthesis and used to make various drugs.

Increasing production of active pharmaceutical ingredients is driving global pharmaceutical intermediates market. The growing trend of high-tech therapies with advanced delivery systems and the development of personalized and customized medicines are increasing the demand for active pharmaceutical ingredients worldwide. The high cost associated with the acquisition of biopharmaceutical drugs is a major factor hampering the growth of global market. Also, the high capital investment required for the production of APIs is a major restraining factor that may hamper market growth. The introduction of new technologies in the pharmaceutical industry for manufacturing various drugs, as well as increased investment in research activities, is expected to provide significant growth opportunities for the market in the coming years.

US Pharmaceutical Intermediates Market is poised to grow at a sustainable CAGR for the next forecast year.