Bulk Drug Market to Grow with a CAGR of 12.10% through 2028
Increase in the
prevalence of infectious diseases and increase in the aging population is
expected to drive the Global Bulk Drug Market growth in the forecast period,
2024-2028.
According to
TechSci Research report, “Bulk Drug Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global
Bulk Drug Market stood at USD 362.10 billion in 2022 and is anticipated to grow
with a CAGR of 12.10% in the forecast period, 2024-2028. The awareness among
individuals regarding Bulk Drug has led to favorable market conditions for the
global Bulk Drug market. Several factors contribute to the growth of various
Bulk Drug products.
The surge in
healthcare spending translates into substantial opportunities for bulk drug
manufacturers. To effectively cater to this heightened demand, these
manufacturers must leverage cutting-edge technologies and innovative production
processes. Ensuring both quantity and quality becomes paramount as they strive
to meet the escalating needs of healthcare providers and patients alike. This
surge in production not only fuels the growth of bulk drug manufacturers but
also contributes significantly to the industry's overall expansion.
The prevalence
of chronic diseases, such as cardiovascular disorders, diabetes, and cancer,
has been steadily rising across the globe. This unfortunate trend has created a
sustained demand for pharmaceuticals, including bulk drugs, which are often
essential components of medications used to manage these chronic conditions,
which will further fuel market growth.
In
November 2022, Merck announces the submission of a regulatory application to
the U.S. Food and Drug Administration (FDA) for KEYTRUDA® (pembrolizumab) in
combination with LYNPARZA® (olaparib) for the treatment of adults with
first-line advanced ovarian cancer with homologous recombination deficiency
(HRD).
The Global Bulk
Drug Market thrives on several key drivers, including rising healthcare
expenditure, continuous advancements in R&D, the increasing prevalence of
chronic diseases, and the industry's role in healthcare preparedness during
global crises. These factors collectively shape the landscape of bulk drug
manufacturing, driving its growth and influence on the global pharmaceutical
industry.
In today's
fast-paced world, Bulk drugs are the foundation of pharmaceutical formulations.
They enable the swift and efficient production of medications in large
quantities. This speed is essential during health crises, such as pandemics,
where a quick response is crucial to save lives. Bulk drugs cover a wide range
of therapeutic areas, from antibiotics to pain relievers, cardiovascular
medications, and biopharmaceuticals. This versatility ensures that
pharmaceutical companies can quickly adapt to changing healthcare needs and
produce medications for various diseases and conditions. In times of
emergencies, such as natural disasters or disease outbreaks, bulk drugs are
indispensable. They provide the raw materials needed to produce essential
medications rapidly, ensuring that healthcare systems can respond effectively
to crises. Bulk drug production, especially in regions with cost-efficient
manufacturing practices, allows for cost-effective medication production. This
affordability is critical in providing accessible healthcare solutions to a
large population in a timely manner. The pharmaceutical industry relies on bulk
drugs for research and development of new medications. Innovations in drug
discovery and development are accelerated by having a ready supply of bulk drug
ingredients, leading to breakthrough treatments.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on
"Bulk Drug Market.”
Relentless
progress in medical technology has led to the development of innovative
diagnostic tools, therapies, and medical procedures. While these advancements
enhance patient care, they often come with a higher price tag. Consequently,
healthcare expenditure rises as healthcare systems integrate cutting-edge
technologies, creating a greater demand for pharmaceuticals, including bulk
drugs, that support these advanced treatments..
In recent times,
During the COVID-19 pandemic, bulk drugs were essential for the rapid
development and production of vaccines, antiviral drugs, and other medications
needed to combat the virus. They played a pivotal role in the global
vaccination campaigns that aimed to control the spread of the virus. Bulk drugs
are the building blocks of vaccines. They are used to formulate the active
ingredients in vaccines, enabling the mass production of doses needed for
immunization programs. The development of COVID-19 vaccines in record time
highlighted the importance of bulk drugs in addressing health emergencies.
Recent years have seen a surge in biopharmaceuticals, including monoclonal
antibodies and gene therapies. Bulk drugs are essential in the production of these
innovative treatments, which offer targeted and personalized solutions for
diseases like cancer, autoimmune disorders, and rare genetic conditions.
However, the Stringent Regulatory Compliance and Quality Standards may hinder
market growth. Moreover, challenges related to intellectual Property Rights and
Patent Expirations may pose obstacles to the Bulk Drug market in the near
future.
The Global Bulk
Drug Market is segmented into type, end-user, regional distribution, and
company.
Based on its
type, the Antibiotics have a rich and storied history within medicine and
pharmacology. Their discovery and widespread use revolutionized healthcare by
effectively combating bacterial infections. The advent of antibiotics marked a
turning point in modern medicine, as they drastically reduced mortality rates
from infectious diseases. The longevity of antibiotics' importance cannot be
overstated. Even in the face of emerging health challenges and innovations in
drug development, antibiotics remain indispensable. They continue to be the
frontline defense against bacterial infections, both common and
life-threatening. Antibiotics exhibit a remarkable versatility in treating
various bacterial infections. They are deployed across a wide spectrum of medical
disciplines, including general medicine, surgery, pediatrics, and critical
care. From routine urinary tract infections to complex surgical procedures and
sepsis management, antibiotics play a pivotal role in modern healthcare.
Moreover, antibiotics are not limited to human medicine; they are crucial in
veterinary medicine and agriculture as well. The agricultural sector relies on
antibiotics to promote animal health and enhance livestock production, further
driving demand for bulk antibiotics.
Based on region,
Asia-Pacific segment is expected to grow during the forecast
period. Asia-Pacific,
particularly countries like India and China, has emerged as a global
manufacturing hub for pharmaceuticals and bulk drugs. These nations have
well-established pharmaceutical industries with extensive production
capacities. They offer cost-effective manufacturing solutions, making them
attractive destinations for bulk drug production. The region boasts a highly
skilled and educated workforce in the fields of chemistry, pharmaceutical
sciences, and engineering. This abundant talent pool contributes to the quality
and efficiency of bulk drug manufacturing. Many Asian countries have aligned
their pharmaceutical regulations with international standards, ensuring
compliance with Good Manufacturing Practices (GMP) and other quality control
measures. This has enhanced the reputation of the region's pharmaceutical
products in global markets. Cost-efficient production practices, competitive
labor costs, and favorable government policies have made bulk drug
manufacturing in the Asia-Pacific region cost-effective.
The Africa
market is poised to be the fastest-growing market, offering lucrative growth
opportunities for Bulk Drug players during the forecast period. Factors such as
Africa's population growing rapidly, leading to increased healthcare demands.
The continent faces a rising burden of chronic diseases and infectious
diseases, creating a significant need for pharmaceutical products, including
bulk drugs. Many African countries are investing in expanding and modernizing
their healthcare infrastructure. This includes building hospitals, clinics, and
pharmaceutical manufacturing facilities. Improved healthcare infrastructure
will drive the demand for bulk drugs. Governments in several African nations
are taking proactive steps to strengthen their pharmaceutical industries. They
are promoting local manufacturing, reducing import dependence, and creating
favorable regulatory environments. These initiatives will stimulate bulk drug
production and consumption. International pharmaceutical companies and
organizations are increasingly partnering with African nations to enhance
healthcare access and local pharmaceutical production. These collaborations
will boost the availability of bulk drugs in the region.
Major companies
operating in Global Bulk Drug Market are:
- Dr. Reddy's Laboratories Ltd.
- Merck & Co., Inc
- Bayer AG
- Merck KGaA
- Cambrex Corporation
- Teva Pharmaceutical Industries Ltd.
- Johnson & Johnson Private Limited.
- BASF SE
- Novartis AG
- Pfizer Inc
Download Free Sample Report
Customers can
also request for 10% free customization on this report.
“The rising
incidence of chronic diseases and increasing Biotechnology Advancements are key
drivers of the Bulk Drug market. In recent years, the The globalization of
pharmaceutical production and distribution increases the need for bulk drug
ingredients across borders. Moreover, the growing consumer emphasis on
preventative healthcare products has enhanced production and marketing efforts.
To meet the demands of the market, manufacturers are increasingly incorporating
cutting-edge technologies with high production efficiency. Rising consumer
acceptance and continuous product innovation will further ensure the growth of
the Bulk Drug and supplements market in the coming years.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Bulk Drug
Market – Global Industry Size, Share, Trends, Opportunity, & Forecast
2018-2028 Segmented By Type (Antibiotics, Sulpha Drugs, Bulk Drug, Steroids,
Analgesics, Others), By End-User (Pharmaceuticals, Biotechnology, Veterinary
Medicine), By Region, Competition”, has evaluated the future growth
potential of Global Bulk Drug Market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in
Global Bulk Drug Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: www.techsciresearch.com