The pharmaceutical industry faces many limitations and has a wide range of specializations that make it a very different scale than other industries. The pharmaceutical industry requires extreme precision and care at every step, from collecting raw materials for pharmaceuticals to preparing the finished product for delivery.
Along with other sectors of the chemical industry, the pharmaceutical industry is characterized by high-growth potential and above-average profitability. At the same time, it is one of the most innovative industries, investing heavily in research and development.
Advances in medicine, demographic changes associated with aging, and rising health awareness have significantly increased the demand for pharmaceuticals.
Typically, Pharmaceutical Raw Materials can be classed into the following three categories:
APIs are pharmacologically active and one of the main components of drugs responsible for their medicinal effects. Raw material accuracy and precision are two important aspects of API manufacturing.
API Strength: There are certain criteria that determine the API strength of a drug. The FDA requires manufacturers to demonstrate the efficacy of their products both in the laboratory and in real patients.
The global API market is expected to reach USD 198.8 billion by 2022 at a CAGR of 6.4%. The major factors driving this growth are patent expiry, government initiatives, penetration, and an increasing geriatric population.
In particular, the largest API producers are located in Asia, India, and China.
Excipients are also called excipients or excipients. Pharmaceutical raw materials used as excipients consist of carriers such as solvents. Excipients add bulk and stability to the formulation, promote absorption, and prevent drug denaturation.
There are guidelines in accordance with international pharmaceutical standards for substances that must be qualified as excipients.
Industry analysts forecast that the excipients market will reach a CAGR of 6.53% by 2021 and reach US$7.7billion globally by 2022. According to ASD's report, the global market for excipients is driven by the increasing use of oral drugs.
North America has the largest market share for pharmaceutical excipients due to the presence of major manufacturers of excipients and increasing demand for pharmaceuticals. Europe comes in second, followed by the Asia Pacific.
Packaging in the pharmaceutical industry also has to be perfect and precise. Raw materials used for packaging in the pharmaceutical industry include plastics, polymers, glass, aluminum foil, paper, and more. Packaging has become a separate category of pharmaceuticals due to diverse raw materials.
Global demand for pharmaceutical packaging is estimated to exceed USD 80 billion by 2020. North America and Europe regions account for a significant share of the pharmaceutical packaging materials market. Advancements in drug delivery technology have initiated the use of innovative packaging in the pharmaceutical sector, increasing the demand for various packaging materials.
The development of medicines and the growing demand for medicines has created a list of well-known active ingredients, which rises in the ranks consecutively every year. At the same time, patient demands are increasing. ChemicalBull is one of the leading chemical manufacturers and suppliers in India and we are here to serve the growing demand.
Therefore, one of the priorities for drug manufacturers is to ensure the highest quality of manufactured drugs and the safety of their users. One way to achieve this goal is carefully select chemical raw materials and materials used in the production process. Please contact us. Let Chemicalbull help and guide you.