Pharmaceutical Chemicals Market Size, Share, and Trends 2024 to 2034

Pharmaceutical Chemicals Market Size and Forecast 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.

Pharmaceutical Chemicals Market Key Takeaways

• North America led the global market with the highest market share of 32% in 2023.
• Asia-Pacific is estimated to expand at the fastest CAGR from 2024 to 2034.
• By Product, the basic building blocks segment has held the biggest revenue share in 2023.
• By Application, the cardiovascular segment held the highest market share in 2023.

U.S. Pharmaceutical Chemicals Market Size and Growth 2024 to 2034

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.

Market Overview

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.

Pharmaceutical Chemicals Market Growth Factors

• Increasing demand for advanced drugs
• Growing geriatric population
• Rise in demand for the active pharmaceutical chemicals
• Development of the neurological drugs
• Easy availability of healthcare insurances
• Government support for research and development activities
• Advantages offered by pharmaceutical chemicals

Market Scope

Product Insights

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.

Application Insights

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.

Pharmaceutical Chemicals Market Companies

• BASF
• Lonza
• Porton Fine Chemicals
• Dishman
• Lanxess
• Johnson Matthey
• Vertellus Holdings
• Jubilant Life Sciences
• Hikal
• Abbott

Major Market Segments Covered

By Product

• Basic building blocks
• Advanced intermediates
• Active ingredients

By Application

• Cardiovascular
• Neurology
• Oncology
• Infectious diseases
• Metabolic system
• Diabetes
• Respiratory diseases
• Gastrointestinal diseases
• Musculoskeletal diseases
• Other

By Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• United Kingdom
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific
• Latin America
• Brazil
• Rest of Latin America
• Middle East & Africa (MEA)
• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa