Chiral Chemicals Market Trends

Key Emerging Trends in the Chiral Chemicals Market

Chiral chemicals, a specific group of chemicals with unique structures, are used in making various products like medicines, agricultural chemicals, and more. The traditional way of making these chemicals is not very efficient, using a lot of materials and toxic substances, which also requires a significant amount of energy. There's a better approach called biocatalytic synthesis, where special catalysts derived from renewable resources are used. This method is more eco-friendly, requires fewer toxic substances, and operates under milder conditions. The KYROBIO project in the European Union is working on improving this process by developing additional enzymes, expanding the range of reactions these catalysts can perform. This advancement is crucial for European industries to create valuable chiral molecules. Using this biocatalytic technology not only benefits the chemical industry but also aligns with environmental concerns and strict government rules.

In the next five years, the pharmaceutical market in Southeast Asia is expected to grow rapidly, with an annual increase of over 11%, reaching USD 40 billion in sales by 2020. This makes it one of the fastest-growing pharmaceutical markets globally. The Southeast Asian region presents great opportunities for pharmaceutical companies that can combine good manufacturing practices, competitive pricing, and a smart export strategy. South Asian pharmaceutical companies stand to gain from increased healthcare spending, a growing elderly population, higher instances of lifestyle-related diseases, and an overall rise in GDP per capita. Thailand, in particular, is witnessing a rapid increase in its aging population, with 13% of the population (10.3 million people) being above 60 years old. By 2025, this demographic is expected to make up 25% of the total population, following similar trends in Indonesia and Malaysia.

Governments in South Asia are recognizing the importance of innovation to sustain economic growth. Thailand, for instance, has launched the "Thailand 4.0" initiative to shift from being a mere manufacturing hub to becoming an innovation hub. The country has set up state-of-the-art facilities in the Thailand Science Park, focusing on clean rooms, advanced labs, and high-performance technologies. Foreign companies are increasingly partnering and investing in domestic companies to upgrade production technology. In Vietnam, STADA, a German company, has invested significantly in Pymepharmcov, one of the approved facilities. Indonesia is also expecting about USD 20 billion in foreign investments over the next five years. Singapore, on the other hand, has attracted investments from major pharmaceutical companies like GSK, WuXi Biologic, and Novartis, totaling hundreds of millions of dollars for advanced manufacturing facilities.