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By 2017 the global chiral technology enabling products market is forecast to reach $5.1 billion, predominantly driven by the rising demand for enantiopure compounds. Additionally, technological advancements in terms of speed, efficacy, automation, and increased throughput are also expected to play a major role in fueling demand for chiral technology in the upcoming years.
Another important factor that is driving growth of chiral intermediates in pharmaceuticals is the extension of patent protection for drugs manufactured from enantiomers.
Over the years, the application of chiral has spread across diverse areas ranging from hair sprays, clothes, drugs for treating diseases to several common materials. Despite recession halting the growth prospects of chiral technology to a certain extent, new developments in the field of chiral technology as well as demand for enantiopure compounds are expected to continue its contribution to the growth of the market in the post recessionary period.
A particularly important sector for chiral technology has been the pharmaceutical industry. Currently a majority of newly introduced drugs are chiral and it is expected that nearly 95% of pharmaceutical drugs will be chiral by 2020.
Europe represents the largest region within the chiral technology enabling products market, as stated by the new market research report on chiral technology. Chiral Intermediates represent the largest product segment in the global market for chiral technology.
Chiral Analytical Products, with a CAGR of 5.21% over the analysis period, represent the fastest growing product segment in the global chiral technology market. Among end-uses, Pharmaceuticals occupies a lion's share and are expected to show relatively faster growth compared to the end-uses.
For more on the chiral technology enabling products market, see the latest research: Chiral Technology Enabling Products Market Report
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