Market Trends of Pharmaceutical Intermediates Industry
This section covers the major market trends shaping the Pharmaceutical Intermediates Market according to our research experts:
Cardiovascular Drugs Hold Significant Share in the Global Pharmaceutical Intermediates Market
The burden of heart disease on the global healthcare system is on the rise. One of the main elements driving the market expansion of pharmaceutical intermediates is the increase in the incidence of chronic cardiovascular disorders such as heart failure and coronary artery diseases. Ischemic heart disease (IHD) is a primary cause of death worldwide, according to a report published in the Cureus Journal of Medical Science in July 2021. The same report stated that around 126 million people worldwide (1,655 per 100,000), or roughly 1.72% of the world's population are affected by ischemic heart disease. By 2030, it is anticipated that there would be more than 1,845 cases of ischemic heart disease per 100,000 people worldwide.
Furthermore, risk factors associated with heart disease are on the rise across several countries which is boosting the prevalence. For instance, as of the year 2022, around 11.10% of men and 3.10% of women in France are alcoholics, as per the data from World Population Review. As alcoholism increases the chances of heart disease, it has a significant impact on market growth. Similarly, the UK Factsheet by the British Heart Foundation, released in July 2021, estimated that 7.6 million people in the United Kingdom were affected by heart and circulation disorders. Additionally, according to the same source, heart and circulation illnesses are responsible for more than 1,60,000 deaths annually in the United Kingdom, or 25% of all fatalities in the country. This high prevalence of cardiovascular diseases is generating a huge demand for cardiovascular drugs, which, in turn, is expected to propel the growth in the need for various pharmaceutical intermediates.
Hence, owing to the aforementioned factors, the concerned segment of the pharmaceutical intermediates market is expected to observe steady growth over the forecast period.
North America Dominates the Global Pharmaceutical Intermediates Market
North America dominates the Pharmaceutical Intermediates products market primarily due to the advanced research and development facilities mainly across the United States and Canada. In addition, the rising prevalence of various chronic conditions is also fueling market growth across the region.
Growing government support for healthcare in the United States is one element contributing to the market's expansion in that country. For instance, the National Institutes of Health (NIH) received more than USD 700 billion in public funding over the past few decades, according to a 2021 study from the Congressional Budget Office. Six grants were given out by the Food and Drug Administration (FDA) in 2020 to fund new clinical trials and advance the creation of pharmaceuticals for the treatment of uncommon diseases. The need for pharmaceutical intermediates, which are widely used in the drug discovery process, will increase as a result. According to "clinicaltrials.gov," there were 443,207 registered clinical studies in the United States as of November 2022. Similarly, according to ClinicalTrial.gov, Canadian pharmaceutical companies and research institutions have strong R&D pipelines as of the year 2022. Of the 5,659 new studies in the pipeline at that time that were in various stages of evaluation, 1,397 (24%) were in Phase III clinical trials that had received the Food and Drug Administration (FDA) or European Medicines Evaluation Agency (EMA) approval, covering a wide range of therapeutic areas.
As infectious diseases become more widespread, attention is being paid more and more to their diagnosis and treatment. The Centers for Disease Control and Prevention (CDC) estimated that in 2020, there were approximately 7,174 tuberculosis cases discovered in the United States, translating to a rate of 2.2 per 100,000 people. Thus, a high prevalence of tuberculosis patients drives up the demand for therapy, which in turn drives the market for pharmaceutical intermediates. The CDC reported in a February 2022 article that each year in the United States, Salmonella bacteria causes around 1.35 million infections, 26,500 hospitalizations, and 420 fatalities. The nation's healthcare system is burdened by the large number of infectious infections that are reported each year. As a result, the market under study may experience growth due to the extraordinary rise in demand for treatments for these diseases. Thus, the abovementioned factors are expected to increase market growth.
