The Global Market for Chiral Technology Enabling Products is Projected to Reach US$7.6 Billion by 2022
Supportive
Regulations, Government Investments & Patent Extensions Drive the Global
Chiral Technology Market, According to a New Report by Global Industry Analysts,
Inc.
GIA launches comprehensive analysis of industry
segments, trends, growth drivers, market share, size and demand forecasts on
the global Chiral Technology market. The global market for Chiral
Technology Enabling Products is projected to reach US$7.6 billion by 2022, driven
by government investments and incentives, supportive regulations, and extension
of patent protection for chiral extensions of existing non-chiral drugs.
Chiral technology and chirality are widespread in
the lives of people. Hair sprays, clothes, drugs for treating diseases, and
several common materials are all composed of organic molecules, many of them
chiral. Over the past few years, progress made in the technology has had a
growing influence on pharmaceutical research and development. Chiral technology
also plays a pivotal role in addressing requirements of the pharmaceuticals sector
in the manufacture of optically pure molecules, including APIs (Active Pharmaceutical
Ingredients)
and intermediates that are utilized as the framework for single enantiomer
drugs. Robust growth in the market is driven by supportive regulations,
government investments and incentives, and continuous expansion of
pharmaceutical and biotechnology industries. Apart from regulations, drug
efficiency and cost efficiency, the major and important factor driving growth
of chiral intermediates in pharmaceuticals is the extension of patent
protection for drugs manufactured from enantiomers. Chiral extensions of
existing non-chiral drugs utilize a new compound that differs in many ways from
the older compound and automatically leads to an extension of the all-important
patent rights.
Technological advancements and collaborations
between academic institutions and research labs are driving demand for chiral
technologies, together with research activities in the fields of medicines,
genomics, proteomics, and metabolomics which are helping increase the use of
chiral columns. New developments in the field of chiral technology as well as
demand for enantiopure compounds are expected to spur growth in the market. Future
growth in the market will be supported by increasing spending by several
governments on clinical research, strong focus of companies on acquisitions and
mergers to expand product portfolios and market presence and growing availability
of next-generation chiral chromatography methods with sophisticated
features. Despite the opportunities for growth, the market will face challenges
coming from the complexity of chiral chemistry, slow commercialization of novel
chiral technology-based chemicals and drugs, lack of proficient skilled staff
and high cost of chromatography equipment.
As stated by the new market research report on Chiral Technology, Europe represents the
largest market worldwide. Asia-Pacific, Latin America and the Middle East together
rank as the fastest growing market with a combined CAGR of 7.1% over the
analysis period, led by increased outsourcing of drug development activities to
China and India. China represents the largest as well as the fastest growing
market for chiral technology. While increasing R&D activities and growing
adoption in the pharmaceutical and biotechnology industries are the primary
drivers of chiral chromatography columns in India, strong focus on research
remains the most important factor for increasing penetration of chiral
chromatography columns in Japan. Chiral Intermediates constitute the largest
segment in the global chiral technology enabling products market, while
Pharmaceuticals represent the largest end-use application area for chiral
technology enabled products.
Major players in the market include Agilent
Technologies Inc., Albemarle Corporation, BASF SE, Cambrex Corporation, Chiral
Quest (Suzhou) Co. Ltd., Chiral Technologies Inc., Daicel Corporation, Johnson
Matthey Fine Chemicals, Phenomenex Inc., Regis Technologies Inc., Shimadzu
Corporation, Sigma Aldrich Corp., Solvias AG, Sterling Pharma Solutions Ltd.,
Thermo Fisher Scientific Inc., and YMC America Inc. among others.
The research report titled "Chiral Technology: A Global
Strategic Business Report" announced by Global Industry Analysts Inc., provides a
comprehensive review of trends, issues, and strategic industry activities of
major companies worldwide. The report provides market estimates and projections
for geographic markets, such as the United States, Japan, Europe, and Rest of
World. The report also analyzes the Chiral Technology Enabling Products market
by segments - Intermediates, Analytical, and Others. End-use applications
analyzed in the report include Pharmaceuticals, and Agrochemicals.
For
enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
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