May 2024
The global pharmaceutical chemicals market size was USD 115.45 billion in 2023, calculated at USD 123.42 billion in 2024 and is projected to surpass around USD 240.52 billion by 2034, expanding at a CAGR of 6.9% from 2024 to 2034.
The global pharmaceutical chemicals market size accounted for USD 123.42 billion in 2024 and is expected to be worth around USD 240.52 billion by 2034, at a CAGR of 6.9% from 2024 to 2034. The North America pharmaceutical chemicals market size reached USD 36.94 billion in 2023.Increasing demand for advanced drugs and rise in demand for the active pharmaceutical chemicals are major growth driver of pharmaceutical chemicals market.
The U.S. pharmaceutical chemicals market size was estimated at USD 25.91 billion in 2023 and is predicted to be worth around USD 55.14 billion by 2034, at a CAGR of 7.1% from 2024 to 2034.
The research report covers key trends and prospects of pharmaceutical chemicals products across different geographical regions including North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Geographically, pharmaceutical chemicals market is conquered by North America owing to favorable government mandates for the production of the pharmaceutical chemicals, coupled with increasing research and development activities for production of pharmaceutical chemicals in the countries of this region, especially in the United States. Asia-Pacific is expected to register the fast growth rate, on account of increasing API production and growing investment in research and development sector by key market players in the region. Also, increasing prevalence of chronic diseases is anticipated to drive growth of the target industry in the countries of Asia Pacific region. Further, increasing population in the Asian countries is responsible for the high demand for pharmaceutical chemicals in the region. Latin America and the African and Middle Eastern region will display noticeable growth over the forecast period.
Emerging applications of the pharmaceutical chemicals are projected to generate lucrative growth opportunities for the major players operating in the global pharmaceutical chemicals market. Developments of new pharmaceutical drugs, coupled with evolving markets are majors trends observed in the global pharmaceutical chemical market. This trend is expected to continue and will boost growth of the target market in the near future. Increasing healthcare expenditure in emerging markets is influencing the worldwide business strategies of pharmaceutical chemical market owing to high profitability. The attention of these emerging markets is favoring towards health concerns affecting individuals owing to which they are focusing on increasing investment and launching advanced products across the globe. The manufacturing costs of pharmaceutical drugs can be reduced by innovations, hence the key players operating in the target industries are constantly increasing healthcare expenditure. Further, major companies in global industry are collaborating in order to competitive edge in the global market.
Report Highlights | Details |
Market Size in 2023 | USD 115.45 Billion |
Market Size in 2024 | USD 123.42 Billion |
Market Size by 2034 | USD 240.52 Billion |
Growth Rate from 2024 to 2034 | CAGR of 6.9% |
Largest Market | North America |
Fastest Growing Market | Asia Pacific |
Base Year | 2023 |
Forecast Period | 2024 to 2034 |
Segments Covered | Product Type, Application Type, Region Outlook |
Regions Covered | North America, Asia Pacific, Europe, Latin America, Middle East and Africa |
Basic building blocks Segment Reported Foremost Market Stake in 2023
Basic building blocks segment recorded the prime market share in the global pharmaceutical chemicals market by product in 2020. The Advanced intermediates product segment is predictable to rise at a noteworthy CAGR during the forecast time-frame.
Cardiovascular segment is projected to dominate the Application Segment of Pharmaceutical Chemicals Market Revenue
On the basis of application segment the global market is segregated into gastrointestinal diseases, infectious diseases, musculoskeletal diseases, oncology, respiratory diseases, diabetes, neurology, metabolic system, cardiovascular, other. The cardiovascular application segment is expected to dominate in terms of revenue over the forecast time frame. The growth is attributed to the increasing use of pharmaceutical chemicals for the treatment of blood vessels and heart diseases across the globe. Increasing prevalence of heart diseases is primarily responsible for the greater market share of cardiovascular in the application segment of the pharmaceutical chemicals market. Oncology segment will expand at a significant CAGR during the forecast time-frame.
Major Market Segments Covered
By Product
By Application
By Geography
If you have questions about this insight, please email at sales@precedenceresearch.com
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client
May 2024
August 2024
December 2022
September 2024