Favorable government regulations are promoting the worldwide chiral technology growth. Rising outsourcing of pharmaceutical production to APAC regions is attributing to the market growth. Although, the complexity linked with chiral chemistry can restrain the growth. The worldwide chiral technology market was estimated at $4.75 billion in 2010 and is anticipated to collect revenue worth $5.8 billion by 2017. The market is likely to grow at a CAGR during 2010-2017.
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Chiral technology is used in different aspect of human life such as manufacturing clothes, treating medical conditions, hair spray and other materials. The overall chiral technology market is segmented into chiral analysis, chiral synthesis and chiral resolution. In addition, the market segments of chiral synthesis contribute for 80% of the overall market. In 2010, the sector generated for over $3.7 million and is further expected to dominate over the forecast period. In addition, the chiral analysis segment was estimated at $734 million in2010 and is further projected to cross over $1.06 billion by 2017. Furthermore, the segment will grow at the CAGR crossing over 5.4% over the forecast period.
USA region inhibits the highest potential as it accounted for over 40% of the total market revenue in 2010. Regions like Latin America, Asia Pacific and Canada signify the rapid growing regional sectors in the total market. Moreover, the market is experiencing increased expansion in mergers and acquisitions. Also, vendors are adopting several strategies to augment the worldwide presence and to expand their product portfolio. These strategies are also to attain economies of scale with each other. Vendors who can increase their profit margins are focusing better on product innovation by teaming up with each other.
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Healthcare authorities all over the world have introduced policies and guidelines to provide incentives. Also, these authorities have emphasized on encouraging investments for expansion of single- entainomer drugs. Royal DSM N.V, Sigma Aldrich Corp, Daicel Corp and chiral technologies are key vendors the dominating the chiral technology market. Albemarle Corp., Chiral Quest Inc. and BASF SE are the other vendors operating in the market Regis Technologies Inc
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