Published Date: 30-Aug-2023
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According to a new report, published by KBV research, The Global API Intermediate Market size is expected to reach $237.7 billion by 2030, rising at a market growth of 7.2% CAGR during the forecast period.
The Chemical Intermediates segment is showcasing a CAGR of 8.4% during (2023 - 2030). Most agricultural chemicals, such as fertilizers and insecticides, are produced via chemical intermediates. Therefore, increased agricultural production is the primary driver of expanding the market segment for chemical intermediates. Additionally, the pharmaceutical section regularly uses chemical intermediates to manufacture pharmaceuticals. Due to the rising incidence of diseases and continued efforts to develop new therapies, the chemical industry has become more prominent in healthcare.
The Biotech & Pharmaceutical Companies segment is leading the Global API Intermediate Market by End User in 2022; thereby, achieving a market value of $121.7 billion by 2030. Due to an increase in biotech & pharmaceutical companies importing API intermediates, the segment is anticipated to develop at the greatest rate during the forecast period. Companies in the biotech and pharmaceutical industries frequently concentrate on particular therapeutic areas, such as oncology, cardiology, neurology, or infectious illnesses.
The Analgesics market acquired maximum revenue share in the Global API Intermediate Market by Application in 2022; thereby, achieving a market value of $91.0 billion by 2030. Due to the rising prevalence of chronic pain and increased awareness of painkiller use, the analgesics segment is anticipated to develop at the fastest rate throughout the forecast period. Analgesics, sometimes referred to as painkillers, are utilized to alleviate and lessen physical discomfort. They are employed when a patient can no longer tolerate the pain due to its severity.
The Asia Pacific region dominated the Global API Intermediate Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $88.5 billion by 2030. The Europe region is poised to grow at a CAGR of 6.7% during (2023 - 2030). Additionally, The North America region would showcase a CAGR of 6.5% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/api-intermediate-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Cation Pharma, Espee Group, Sandoo Pharmaceuticals and Chemicals Co., Ltd., Cipla Limited, Cambrex Corporation, Vertellus, Dr. Reddy’s Laboratories Ltd., Evonik Industries AG (RAG-Stiftung), Pfizer, Inc., Shree Ganesh Remedies Limited
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