The European pharmaceutical intermediates market is anticipated to be valued at USD 11.3 billion by 2027 from USD 9.01 billion in 2022, growing at a CAGR of 4.63% from 2022 To 2027.
The growing patient count suffering from chronic diseases in the European region is majorly driving the European pharmaceutical intermediates market growth. For instance, an estimated 35% of the European population suffers from at least one chronic disease, such as CVDs, cancer, diabetes, and others. Cancer is a significant chronic disease that demands the manufacturing of various drugs to help raise the survival rate of the patients. The increasing mortality rate due to these chronic diseases is fuelling the manufacturing activities of pharmaceutical intermediates, and the growing usage of intermediates in drug discovery is further promoting market growth in Europe. In addition, the novel coronavirus has boosted the need for pharmaceutical intermediates in Europe. In addition, Europe is one of the regions significantly impacted by the recent COVID-19 pandemic.
The growing number of R&D activities in the European pharmaceutical industry promotes European market growth. Researchers in the European region are focusing on developing new pharmaceutical intermediates for manufacturing pharmaceutical drugs to provide positive output and fast recovery after use. Additionally, increasing low-cost and quality drugs also demand the European pharmaceutical intermediates market growth.
Furthermore, the growing demand for generic and branded drugs is fuelling the growth of the European pharmaceutical intermediates market. Pharmaceutical intermediates are raw materials used in the production of bulk drugs. Drug manufacturers use various pharmaceutical intermediates without changing chemical formulas while manufacturing the drugs. In addition, the growing usage of pharmaceutical intermediates in the manufacturing of cosmetic drugs in the European region is further favoring the European market growth. Most manufacturers focus on developing natural raw materials as an intermediate used in the production of cosmetic drugs, which works more effectively than the other intermediates.
On the other end, strict rules to approve new pharmaceutical intermediates are one of the major factors hampering the European market growth. In addition, the need for more raw materials to develop the drugs and the lack of skilled professionals at the research centers in the European region are inhibiting the growth rate of the European pharmaceutical intermediates market.
This research report on the Europe pharmaceutical intermediates market has been segmented and sub-segmented into the following categories.
By End User:
Geographically, the European market had the second-largest regional share worldwide in 2021. The European region is anticipated to showcase a promising CAGR during the forecast period.
Germany held a considerable share of the European market in 2021 and is estimated to witness a notable CAGR during the forecast period owing to the growing availability of various drugs for various diseases. The growing aging population in Germany is expected to fuel the demand levels for pharmaceutical intermediates and boost market growth in Germany. Aging results in several changes in body function, such as impaired vision, hearing, swallowing, and cognitive functions. Patients with such impairments use long-term drugs to prevent or reduce chronic disease. Such factors are anticipated to accelerate market growth in Germany. In addition, the key market participants in Germany are investing considerable amounts in manufacturing active pharmaceutical intermediates, which is a plus for market growth. Furthermore, increasing efforts from many clinical trial centers to manufacture various drugs to address the growing burden of various diseases is promoting market growth in Germany. Furthermore, the growing manufacturing activities from the pharmaceutical companies in Germany, increasing adoption of personalized medicine, and rising number of product approvals are further promoting the pharmaceutical intermediates market in Germany.
The UK is another potential regional market for pharmaceutical intermediates in the European region. The growing manufacturing activities of various pharmaceutical companies in the UK are one of the major factors promoting the UK market growth. In addition, to increase pharmaceutical ingredient safety in the UK, the UK government has taken several measures to help produce quality products.
KEY MARKET PLAYERS:
Lonza Group, Dishman Group, Green Vision Life Sciences, Midas Pharma GmbH, Aceto Corporation, BASF SE, Chiracon GmbH, Sanofi SAIS, and Vertellus Holdings LLC are a few of the promising players in the European pharmaceutical intermediates market.
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