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The pharmaceutical intermediates market studied is expected to grow at a CAGR of nearly 5.3% during the forecast period.

Some of the factors driving the market growth include increasing prevalence of chronic diseases and growing R&D initiatives and activities in the pharmaceutical industry.

Various diseases, mainly cardiovascular diseases, infectious diseases, diabetes and kidney-related complications, have a high prevalence worldwide. Thus, globally, the increasing prevalence and burden of various diseases in all age groups is driving the demand for drug development and its market.

There is an upsurge in the use of advanced techniques such as high-throughput, bioinformatics and combinatorial chemistry to better identify drug candidates. Drug discovery has changed significantly with the development of emerging technologies, helping the process to become more refined, accurate and less time-consuming. High-throughput screening is one of the most widely used drug discovery techniques due to automation, multi-detector readers, imaging hardware and software. Hence, the use of pharmaceutical intermediates is also expected to grow steadily due to increasing R&D activities in the pharmaceutical industry.

Pharmaceutical intermediates are drugs used as APIs to produce APIs, and can also refer to raw materials produced during the synthesis of APIs, which must undergo further molecular changes or processing to become APIs. Pharmaceutical intermediates are hygienically formulated with high-grade raw materials and are used in a few other industries such as pharmaceuticals and cosmetics.