- Nearly 3 out of 5 Sales of Chiral Chemicals to be accounted by the Pharmaceutical Sector
- Fact.MR in a recent market analysis on the global chiral chemicals market, highlights recent developments witnessed in key segments in terms of end user and separation technologies across seven regions. It also divulges compelling insights into growth drivers, opportunities, threats, and challenges impacting growth in the market to help readers understand prevailing dynamics.
NEW YORK, Dec. 1, 2021 /PRNewswire/ -- Increasing adoption of chiral chemicals in the pharmaceutical industry across the globe is expected to push sales in the chiral chemicals market at an impressive 16% CAGR through 2030, opines Fact.MR in a recent market survey. Ongoing advancements and product developments will continue boosting sales of chiral chemicals, therefore augmenting the growth of the market.
The development of advanced analytical methods has made the production of chiral chemicals faster and more cost-effective, enabling their applications in various end-use sectors such as pharmaceuticals, agrochemicals, and food ingredients.
Demand for enantiomerically pure ingredients in pharmaceutical formulations is expected to boost the market. The expansion of the pharmaceutical industry in countries such as India, China, the U.K., and Brazil is encouraging research and development in the healthcare sector for the development of novel drugs. This is expected to continue pushing sales of chiral chemicals.
Besides this, applications in the agrochemicals sector are expected to soar over the forecast period. Sales in the market is expected to rise in tandem with the rise in demand for eco-friendly pesticides, which leads to increasing adoption of chiral chemicals in herbicides, plant growth regulators, and fungicides.
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Growing emphasis on increasing the crop yield, coupled with the rising demand for eco-friendly agrochemicals to improve plant health will widen the scope of applications for the chiral chemicals market. In addition to this, increasing efforts to provide food security in the food & beverage sector is expected to spur demand for chiral chemicals in the food ingredients industry.
As per Fact.MR, demand in North America and Europe is expected to increase considerably over the assessment period. The presence of various pharmaceutical and agrochemicals players in these regions will create a conducive environment for the growth of the chiral chemicals market over the assessment period.
"Favorable government policies to support the development of biocatalysts for various end-use industries is expected to bolster sales of chiral chemicals. Besides this, growing popularity of contract manufacturing of pharmaceuticals will fuel growth of the market through the forecast period," says a Fact.MR analyst.
Based on end user, the pharmaceutical sector is expected to account for more than 3/4th of the total chiral chemicals market share by 2030.
In terms of separation technologies, the adoption biological separation technique is projected to grow at over 13% CAGR over the forecast period.
Demand for chiral chemicals is expected to rise at a significant pace in the U.S. due to the presence of robust pharmaceutical and healthcare industries.
The U.K. will continue dominating the Europe chiral chemicals market amid surging demand from the specialty chemicals industry.
China is expected to account for a dominant share in the East Asia chiral chemicals market due to the expansion of the agrochemicals industry.
Leading companies are investing in mergers, acquisitions, and collaborations to strengthen their global presence. In addition to this, players are ramping up their research and development activities to diversify their product portfolios to gain a competitive edge in the market.
For instance, in July 2021, Daicel Chiral Technologies opened its new preparative chiral separations facility in Ann Arbor, Michigan. The new separation facility is established to handle small and large-scale preparative separation projects while connecting Daicel's global network of separation facilities in China, India, Japan, and France.
Key Players in the Chiral Chemicals Market Include:
Boulder Scientific Company
Chiral Quest (Suzhou) Co., Ltd.
Chiral BioSciences Ltd.
Agilent Technologies, Inc.
Alps Pharmaceutical Ind. Co.,Ltd.
More Valuable Insights on Chiral Chemicals Market
Fact.MR provides an unbiased analysis of the chiral chemicals market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the global chiral chemicals with a detailed segmentation on the basis of:
Key Questions Covered in Chiral chemicals Market Report
The report offers insight into the chiral chemicals market demand outlook for 2020-2030.
The market study also highlights projected sales growth for chiral chemicals market between 2020 and 2030.
Chiral chemicals market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
Chiral chemicals market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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