Rise In Demand For Advanced Drugs To Propel The Growth Of Chiral Chemicals Market Size

Market Synopsis:

The Chiral Chemicals Market Size was valued at USD 58,762.6 million in 2021 and is expected to register a CAGR of 11.25% to reach USD 147,668.2 million by the end of 2030. chiral chemicals are extensively utilized in pharmaceutical industry for drug development. Hence, rise in demand for these chemicals in rapidly expanding pharmaceutical industry is majorly favoring the growth of the Chiral Chemicals Market Size. Increasing application of chiral chemicals for manufacturing agrochemicals and growing product penetration in agrochemical industry are propelling the growth of the Chiral Chemicals Market Size. The players in the Chiral Chemicals Market Size are increasing their investment for research and development activities in order to identify new application areas of chiral compounds and develop advanced drugs from these chemicals. This has created multiple growth opportunities for the Chiral Chemicals Market Size. The advent of bio-catalytic synthesis of chiral compounds is also contributing to the expansion of the Chiral Chemicals Market Size. However, concerns regarding the adverse environmental effects caused by chiral pesticides and stringent regulatory framework regarding the production of these chemicals are likely to act as restraining factors on the expansion of the Chiral Chemicals Market Size.

Market Segmentation:

The Chiral Chemicals Market Size has been segmented on the basis of technology and application. Based on technology, the chiral chemicals market has been segmented into traditional separation method, asymmetric preparation method, and biological separation method. Based on application, the Chiral Chemicals Market Size has been segmented into pharmaceutical, agrochemical, flavors, fragrances, and others. The pharmaceutical segment commands for the major share in the Chiral Chemicals Market Size owing to the high demand for chiral chemicals in pharmaceutical industry as a result of increased research and development for introduction of new and advanced drugs and medications in the global market

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Regional Analysis:

Geographically the Chiral Chemicals Market Size has been segmented into five major regions such as North America, Latin America, Asia Pacific, Europe and the Middle East and Africa. The chiral chemicals market in the North America region commanded for the largest market share in the year 2016 and is forecasted to reach the valuation of USD 32,025.3 Mn by the end of the assessment period. Proliferation of major end-use industries such as pharmaceuticals and food and beverages are contributing to the significant growth of the chiral chemicals market in the North America region. The Asia Pacific region is projecting significant growth in the Chiral Chemicals Market Size and is forecasted to expand at a remarkable CAGR of 17.56% during the assessment period. Rapid industrialization and large-scale production of chiral chemicals due to the low cost of raw materials are propelling the growth of the chiral chemicals market in the Asia Pacific region. The Europe region commanded for the considerable market share of 28% in the Chiral Chemicals Market Size during the year 2016. Germany is considered to be the substantial contributor to the growth of the chiral chemicals market in the Europe region. The Middle East and Africa and Latin America regions are projecting moderate growth in the Chiral Chemicals Market Size during the forecast period.

Key Players:

The major players profiled by MRFR that are operating in the Chiral Chemicals Market Size are ASF SE (Germany), Solvias AG (Switzerland), Strem Chemicals, Inc (the U.S.), Johnson Matthey Plc (the U.K.), W. R. Grace & Co.-Conn (the U.S.), Tyche Industries Limited (India), Chiral Quest (Suzhou) Co.,Ltd (China), Nanjing Legend Pharmaceutical (China), The Dow Chemical Company (the U.S.), Flamma S.p.A (Italy), and others. The players in the Chiral Chemicals Market Size are focusing on business expansion through mergers and acquisitions, extensive product portfolio, partnership and collaboration, and various other strategies in order to sustain the competitive environment of the Chiral Chemicals Market Size.

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