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Chemical Pharmaceutical Market Set to Witness an Uptick during 2017 to 2025
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The market of chemical pharmaceuticals is majorly driven by increasing demand of active pharmaceutical chemicals by pharmaceutical companies. In addition, many companies provide large number of pharmaceutical products which will drive the market growth. For example, Orchid Chemicals & Pharamaceuticals Ltd. offers variety of active pharmaceutical ingredients like Cephalosporins for both oral and injectable use. These include products like Cefalexin, Cefradine, Cefprozil, Cefotaxime Sodium, Cefoxitin Sodium and others. Thus, these types of offering will increase utilization of chemical pharmaceuticals hence drives the market growth.
Additionally, increasing use of generic drugs coupled with presence of large number of multinational pharmaceutical in this market will drive the growth of chemical pharmaceutical market. In addition, many companies are offering various types of excipients that enable to enhance the performance of pharmaceutical ingredients which will further drive the market growth. For example, Avantor Performance Materials introduced J.T.Baker PanExcea performance excipients that help pharmaceutical manufacturers to enhance the drug formulation capabilities to create innovative therapeutic agents.
Thus, these types of offering will attract customers and hence drives the market growth of chemical pharmaceuticals. Moreover, various advantages of chemical pharmaceuticals like cost-effective production, less energy consumption and support from the government of various countries for the innovation in pharmaceutical industries will further stimulate the market growth of chemical pharmaceuticals. However, strict environmental standard and high cost of raw materials will restrain the market growth of chemical pharmaceuticals.
Geographically, North America dominates the global market for chemical pharmaceutical. The accelerated growth in North America is mainly attributed to high number of pharmaceutical manufacturer companies. Europe is considered as the second largest market of chemical pharmaceuticals owing to increasing use of pharmaceutical active ingredients by number of pharmaceutical companies. In addition, India, South-East Asia and China are the geographically emerging market for chemical pharmaceuticals. Cost effective production environment of pharmaceutical ingredients as compared to developed countries like the U.S. and Europe will attract many pharmaceutical companies to increase their investment in Asia-Pacific region. Additionally, countries like India and China would consider as the biggest market for chemical drugs due to the high production of chemical APIs like Penicillin, anti-pyretic analgesic drugs and vitamins.
Various key players contributing to the global chemical pharmaceutical market comprises Orchid Chemicals & Pharamaceuticals Ltd., J.B.Chemicals and Pharmaceuticals Ltd., North China Pharmaceutical Group Corporation, GlaxoSmithKline, AstraZeneca, Northeast Pharmaceutical Group Co. Zhejiang Medicine Co., Ltd., Hoffmann-La Roche, Abbott Laboratories, Eli Lilly and Company and others.
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