The Pharmaceutical Fine Chemicals Market is expected to reach US$ 197.4 billion during the forecast period 2030 at a 6.9% CAGR.
Global Pharmaceutical Fine Chemicals accounted for a market size of around USD 93 billion in the year 2019 and is projected to grow at a CAGR of more than 6% over the forecast period. Fine chemicals are pure substances, which are blended with basic chemicals to transform into complex chemicals, owing to which the product has high specification adding to its price. The chemicals are used in the different healthcare fields such as pharmaceuticals, and nutraceuticals. The positive outlook across these industries is augmenting the product demand.
The global Pharmaceutical Fine Chemicals market size is projected to reach over USD 157 billion by 2028. The rising geriatric population coupled with growing health awareness among consumers and the increasing number of cases for chronic diseases is expected to drive the product demand in the coming years. Furthermore, the utilization of chemicals across the agricultural industry to increase the yield of crops is further contributing to the growth of the industry.
The COVID-19 situation posed a little impact on the pharmaceutical fine chemicals industry. The fine chemicals witnessed a surge in demand only from the healthcare sector as other sectors announced a halt in operations. During the initial phase of the outbreak, the demand took a hit as doctor priority was to treat coronavirus infected patients. Although, the steady opening of the lockdown restrictions along with the reopening of medical facilitates for treatment of various illnesses is expected to escalate the demand for the fine chemicals. Furthermore, rising awareness for attaining improved health conditions is further expected to escalate the growth in the post-COVID period.
Pharmaceutical Fine Chemicals Market Scope
|Revenue forecast in 2030
|US$ 197.4 billion
|CAGR of 6.9 % during 2020-2030
|By Product, By Application, Region.
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|BASF, Lonza, Porton Fine Chemicals, Dishman, Lanxess, Johnson Matthey, Vertellus Holdings, Jubilant Life Sciences, Hikal, Abbott
Key Segment Of The Pharmaceutical Fine Chemicals Market
By Product (USD Billion)
• Basic building blocks
• Advanced intermediates
• Active ingredients
By Application (USD Billion)
• Infectious diseases
• Metabolic system
• Respiratory diseases
• Gastrointestinal diseases
• Musculoskeletal diseases
Regional Overview (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The pharmaceutical fine chemicals are witnessing an upsurge in demand owing to increasing awareness toward maintaining health and ill-effects of chemical products. Positive government outlook along with the introduction of regulatory norms is stimulating the industry size. For instance, the raw material used for the preparation of the chemicals is administered by the Food and Drug Administration (FDA). The organization has established different standards for the products manufactured from the chemicals. The industry is characterized by industry players focusing on research & development (R&D) activities. The rising demand for chemicals owing to the diverse applications is expected to stimulate the business upsurge.
Drug Type Segment
In terms of drug type, the market is bifurcated into proprietary, and non-proprietary segments. The proprietary segment is estimated to hold a major market share over the forecast period. The market growth of this segment is ascribed to the rising utilization of technologies by industry participants to manufacture drugs that are effective as well as cost-competitive.
On the basis of the product segment, the market is distributed into basic building blocks, advanced intermediates, and active ingredients. The active ingredient is analyzed to hold the largest market share in comparison to other products on account of demand for high purity, and quality products.
Based on the application, the market is segmented into cardiovascular, neurological, oncological, respiratory, gastrointestinal, and musculoskeletal. The cardiovascular segment is anticipated to witness a significant growth rate over the forecast years. These chemicals are used to manufacture drugs for the treatment of blood vessels and heart diseases.
In terms of geography, the global Pharmaceutical Fine Chemicals is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is anticipated to dominate the global Pharmaceutical Fine Chemicals market. The region comprises strict regulations for manufacturing and consumption. The region is further characterized by increase in awareness for drug use and consumer inclination toward preventive healthcare, which in turn, has upheld the product demand.
The leading players operating across the global Pharmaceutical Fine Chemicals market include Denisco Chemicals, Albemarle Corporation, Kenko Corporation, W. R. Grace & Co., Chemada Fine Chemicals, Syntor Fine Chemicals, Johnson Matthey Fine Chemicals, and Pfizer Inc. The market for Pharmaceutical Fine Chemicals is consolidated with established global players and is further witnessing the emergence of new industry players Moreover, the industry players are targeting toward enhancing their market share through implementation of merger & acquisition, collaboration growth strategies.