Pharmaceutical Fine Chemicals Market Will Grow Rapidly In Coming Years Pharmaceutical Fine Chemicals

Rahul Nikade

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Pharmaceutical Fine Chemicals Market Will Grow Rapidly In Coming Years

Pharmaceutical Fine Chemicals Industry

The global pharmaceutical fine chemicals market is expected to reach USD 233.5 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.9% from 2023 to 2030. Increasing demand for preventive healthcare is expected to be a major factor in driving the market growth. The utilization of pharmaceutical fine chemicals (PFCs) has increased on account of the increasing aging population across the globe.

Cardiovascular is anticipated to the fastest-growing application segment over the next eight years growing at an estimated CAGR of 8.4%. The occurrence of cardiovascular disease is on the rise owing to the unhealthy lifestyle of human beings. According to the World Health Organization (WHO), cardiovascular diseases are considered to be the prime cause of fatalities across the globe. The organization also states that cardiovascular diseases caused the death of approximately 17.7 million people in the year 2015. This number approximately represented 31% of the total deaths in the year 2015.

Obesity and an unhealthy lifestyle are some of the most important factors which lead to the occurrence of various diseases such as cardiovascular, neurological, oncological, infectious diseases, metabolic system, diabetes, respiratory, gastrointestinal, and musculoskeletal disorders. Eating junk food, leading unhygienic lifestyle, irregular timetable and many other unhealthy habits lead to diseases amongst human beings. Studies also show that males have more chance of contracting diabetes as compared to females. All these factors combined are thus anticipated to propel the market growth over the forecast period.

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Pharmaceutical Fine Chemicals Market Segments Highlights:

Proprietary emerged as the largest type segment in 2022 and is estimated to generate revenue share of 81.6% in 2022
Big molecules were the largest size segment in 2022 and are expected to grow at an estimated CAGR of 7.8% over the next eight years
The basic building blocks segment is expected to register a CAGR of 7.5% over the forecast period. Basic building blocks is a virtual molecular fragment possessing a reactive functional group
North America dominated the global pharmaceutical fine chemicals market and accounted for the largest revenue share of 37.3% in 2022. North America region is characterized by the presence of strict laws and regulations about manufacturing as well as consumption.

Pharmaceutical Fine Chemicals Market Report Segmentation

Grand View Research has segmented the global pharmaceutical fine chemicals market report on the basis of type, product, chemical, application, and region:

Pharmaceutical Fine Chemicals Type Outlook (Revenue, USD Billion, 2018 - 2030)