Pharmaceutical Fine Chemicals Procurement Research–Trends and Spend Analysis
Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Pharmaceutical Fine Chemicals Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the pharma and healthcare industry. This report breaks down the data and analysis behind the procurement of pharmaceutical fine chemicals and acts as an all-inclusive guide for making smart purchasing decisions.
The global pharmaceutical fine chemicals market is witnessing a shift in outsourcing of pharmaceutical fine chemicals from LCCs such as China and India to developed regions such as Europe and North America due to quality issues and regulatory violations,” says SpendEdge procurement analyst Tridib Bora. “Also, the demand for pharmaceutical fine chemicals is driven by the growth in regulatory approvals for new drug applications as well as demand for innovative drug formulations,” added Tridib.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Pharmaceutical Fine Chemicals Market:
Increase in digitalization initiatives by suppliers
Increase in M&A activity
The growth of biologics and biosimilars
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Increase in digitalization initiatives by suppliers:
In the pharmaceutical fine chemicals industry, leading suppliers are increasingly investing in digitalization. Digitalization helps in increasing accountability and transparency across supply chains. Adoption of such initiatives includes the continuous processing of data that relies heavily on digitalization for collecting and processing information in real-time to enhance quality and productivity of pharmaceutical fine chemicals firms.
Increase in M&A activity:
The pharmaceutical fine chemicals industry is witnessing an increase in M&A activity. This can be attributed to several factors including the expansion into a new geographical territory in a complex regulatory environment and the expansion of product portfolios. The increasing M&A activities also help in enhancing the quality of products for buyers.
The growth of biologics and biosimilars:
In the chemicals industry, the increasing use of biologics and biosimilars is significantly impacting the growth of the global pharmaceutical fine chemicals market. The growth of this segment is leading to the demand for specific pharmaceutical fine chemicals that cater to the individual process need of different biologic formulations. Moreover, the emergence of biologics is enhancing the capability of pharmaceutical medicines in treating chronic diseases.
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