PHARMACEUTICAL SOLVENTS MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Growth in the biopharmaceutical sector

The biopharmaceutical industry has emerged as a major growth driver for the pharmaceutical sector and is witnessing rapid expansion worldwide. For instance, according to data released by Invest India in 2022, the pharmaceutical industry in India is expected to reach US$ 65 Bn by 2024 and to US$130 Bn by 2030. Biotech drugs also called biological or biologic drugs are mainly large, complex molecules manufactured in living systems such as microorganisms or animal cells. They include vaccines, blood components, allergenics, somatic cells, gene therapies, tissues, recombinant therapeutic proteins, monoclonal antibodies and others. These novel biotech therapies have revolutionized the treatment of various chronic, genetic, and life-threatening diseases.

Key factors fueling increased R&D and production of biotech drugs are the ability to target specific disease pathways more precisely, high efficacy demonstrated for cancers and other complex disorders, development of advanced bioprocess technologies, emergence of personalized medicine, blockbuster sales of flagship therapies, and expiry of patents on big biologics enabling production of biosimilars. Global sales figures point towards annual double-digit growth rates for biopharmaceuticals compared to low-single digit growth of conventional small molecule drugs. Big pharmaceutical companies are aggressively investing billions in the development of large pipelines of biological therapeutics in priority therapy areas as future blockbusters.

Manufacturing scale-up needs for these advanced biotech drugs are massive considering their production involves complex multi-step recombinant techniques, cell culture methods, and sophisticated purification technology. Multiple solvents are used at different stages for critical operations like fermentation, extraction, purification, and formulation. Given the difficulty and precision required to manufacture these highly sensitive large molecule drugs, their production cannot be ramped up without ensuring the availability of high purity solvents and efficiency of the various bioprocesses.