Enhancement of solubility, dissolution rate and bioavailability of drug is a very challenging task in drug development, nearly 40% of the new chemical entities currently being discovered are poorly water soluble drugs. The solubility and dissolution properties of drugs play an important role in the process of formulation development. Among all newly discovered chemical entities most of the drugs are lipophilic and fail to reach market due to their poor water solubility. The ability to deliver poorly soluble drugs will grow in significance in the coming years as NCEs are relied upon for a larger share of the revenue within the pharmaceutical market by innovator companies. Similarly, generic drug manufacturers will need to employ economically efficient methods of delivery as more low solubility drugs go off patent, in order to maintain a competitive edge and sufficiently compete as profit margins shrink in this price-sensitive industry.