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Pharmaceutical Chemicals Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | BASF SE, The Dow Chemical Company, Abbott Laboratories, Johnson Matthey PLC, Evonik Industries AG
Pharmaceutical Chemicals Market Trends
The Business Research Company offers in-depth market insights through Pharmaceutical Chemicals Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The pharmaceutical chemicals market size has grown strongly in recent years. It will grow from $129.54 billion in 2023 to $138.71 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to advancements in drug discovery, aging population, regulatory changes, increasing chronic diseases.
The pharmaceutical chemicals market size is expected to see strong growth in the next few years. It will grow to $182.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to personalized medicine, biopharmaceuticals and biosimilars, emerging markets, digital health and telemedicine. Major trends in the forecast period include precision drug manufacturing, gene and cell therapies, drug repurposing, vaccine development and production.
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Market Segmentation:
The main types of pharmaceutical chemical products are solvents, reagents or catalysts, KSMs or intermediates and building blocks for APIs or advanced intermediates. A solvent refers to a chemical that may dissolve one or more other compounds and produce a solution. The drug types are proprietary and non-proprietary applied in cardiovascular disease, neurological disease, oncological disease, respiratory disease, gastrointestinal disease and musculoskeletal disease.
Major Driver - Rising Prevalence Of Neurological Disorders Fuels Growth In The Pharmaceutical Chemicals Market
The increasing prevalence of neurological disorders is expected to propel the growth of the pharmaceutical chemicals market. A neurological disorder is a condition that affects the central and peripheral nervous system, including the brain, spinal cord and nerves found throughout the human body. Pharmaceutical chemicals are used to formulate and create neurological disorder drugs that help treat pain and movement disorders. For instance, according to the 2023 Alzheimer's Disease Facts and Figures report by Alzheimer's Association, a US-based voluntary health organization providing Alzheimer's care and support, about 6 million Americans are living with Alzheimer's in 2023 and is estimated to rise to nearly 13 million by 2030. Further, Alzheimer's and other dementias will cost the nation $345 billion in 2023, estimated to reach $1 trillion by 2050. Therefore, the increasing prevalence of neurological disorders drives the pharmaceutical chemicals market.
Competitive Landscape:
Major players in the pharmaceutical chemicals market are BASF SE, The Dow Chemical Company, Abbott Laboratories, Johnson Matthey PLC, Evonik Industries AG, Eastman Chemical Company, Koninklijke DSM N.V, Lanxess AG, Albemarle Corporation, Lonza Group AG, Clariant AG, W. R. Grace and Co, Jubilant Life Sciences Ltd., Sumitomo Seika Chemicals Co Ltd., Borregaard ASA, WeylChem International GmbH, Vertellus Holdings LLC, CABB Group GmbH, Dishman Carbogen Amcis Ltd., Hikal Ltd., Porton Fine Chemicals Ltd., Denisco Chemicals Pvt Ltd., CHEMADA Industries Ltd., Valaji Pharma Chem, Syntor Fine Chemicals Ltd., Kenko Corporation.
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Top Trend - Pharmaceutical Chemical Industry Embraces Saas Quantum Chemistry Platforms For Innovation And Efficiency
Major pharmaceutical chemical businesses are using new revolutionary technologies that are gaining traction in the pharmaceutical industry, such as software-as-a-service (SaaS) quantum chemistry platforms, to maintain their market position. SaaS (software-as-a-service) Quantum chemistry platforms are cloud-based platforms that offer subscription-based access to quantum chemistry software and resources. For instance, in April 2023, QC Ware Corp, a US-based provider of quantum computing software, launched Promethium, a software-as-a-service (SaaS) quantum chemistry platform. It is uniquely designed to accelerate pharmaceutical, chemicals and materials discovery with an advanced quantum chemistry toolset that uses H100 or A100 Tensor Core. The Promethium toolbox can calculate various chemical systems with around 100 atoms in seconds instead of minutes or hours using traditional algorithms.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pharmaceutical Chemicals Market Characteristics
3. Pharmaceutical Chemicals Market Trends And Strategies
4. Pharmaceutical Chemicals Market - Macro Economic Scenario
5. Pharmaceutical Chemicals Market Size And Growth
…..
27. Pharmaceutical Chemicals Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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