Specialty Enzymes Market Size to grow by USD 1.74 billion between 2024-2028
According to a research report “ Specialty Enzymes Market” by Application (Research and biotechnology, Diagnostic, Others) Type (Carbohydrases, Proteases, Catalase and others) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 1.74 billion, at a CAGR of 6.71% during the forecast period. In the context of the global healthcare industry, the rising prevalence of infectious diseases and the increasing disposable income of consumers are key drivers of healthcare expenditure. This trend is particularly prominent in developed countries, as evidenced by the US National Health Expenditure (NHE) report for 2021-2030, which projects significant growth in healthcare spending and enrollment over the next decade. The growing awareness of the importance of early disease management and the risks associated with delayed medical intervention are fueling this trend, making consumers increasingly proactive about their health. This dynamic is creating significant opportunities for the specialty enzymes market, as these enzymes play a critical role in the diagnosis, treatment, and prevention of various diseases..
Browse market data tables, figures, and in-depth TOC on “Specialty Enzymes Market” by Application (Research and biotechnology, Diagnostic, Others) Type (Carbohydrases, Proteases, Catalase and others) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Application, the Research and biotechnology segment is projected to dominate the market size in 2024
Specialty enzymes play a pivotal role in the biotechnology and research sectors due to their unique advantages over traditional methods. These enzymes offer enhanced efficiency, selectivity, and specificity, enabling scientists to tackle complex research projects and make groundbreaking discoveries in various industries. In life sciences research, specialty enzymes are indispensable for applications such as gene editing, DNA manipulation, and protein purification. Their ability to target specific molecules with precision is essential for gaining a deeper understanding of biological processes and developing innovative therapeutic solutions. Recombinant DNA technology, for instance, relies on restriction enzymes to facilitate the cutting and ligating of DNA fragments, thereby enabling the creation of novel genetic constructs.
By Type, Carbohydrases segment is expected to hold the largest market size for the year 2024
The global carbohydrases market is experiencing robust growth, driven primarily by the pharmaceutical sector's increasing demand for these enzymes. Carbohydrases are essential catalysts that facilitate the hydrolysis of carbohydrates into simpler sugars such as glucose and fructose. The market segments include amylase, cellulose, lactase, mannanase, and pectinase. North America dominates the market, with significant contributions from the production of lactose-free milk products and the ice cream industry. Carbohydrases are commercially utilized to enhance the taste and texture of these food items.
North America is forecasted to hold the largest market size by region in 2024
The North American specialty enzymes market is experiencing robust growth, driven primarily by the US market, which accounts for a substantial revenue share. Key growth drivers include the expanding pharmaceutical and diagnostics sectors, leading to increased utilization of specialty enzymes. Additionally, escalating consumer awareness and health consciousness are fueling demand for enzyme-enhanced consumer products. Notably, proteases and lipases are witnessing significant consumption in the US, underpinning the market's expansion trajectory over the forecast period.
The Specialty Enzymes Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
.
For insights on company offerings- Request a sample report!
Research Analysis Overview
The Specialty Enzymes Market encompasses a wide range of enzymes derived from both animal-derived and plant sources. These enzymes find extensive applications in various industries, including the food production, agricultural, fermentation, and biotechnology sectors. Animal-derived enzymes, such as rennet and pepsin, have long been used in food processing, while microbial enzymes, like glucose oxidase, cellulases, invertases, pectinases, proteases, amylases, lipases, and others, are increasingly being adopted due to their superior efficiency and cost-effectiveness. The market for specialty enzymes is driven by the growing demand from the food industries, agricultural sector, and the fermentation industry. The biotechnology industry is also a significant consumer, with applications in diagnostic methods, DNA sequencing, and DNA modification. The aging population and the rising incidence of chronic diseases, such as rheumatoid arthritis and cancer, are fueling the demand for specialty enzymes in the medicinal applications segment. The microorganism segment is expected to dominate the market due to the ease of production and the ability to engineer enzymes with specific properties. The Biosimilar development segment is also expected to witness significant growth due to the increasing demand for cost-effective alternatives to branded biologics.
Market Research Overview
The Specialty Enzymes Market is witnessing significant growth due to increasing government spending on healthcare and research in various sectors. These enzymes find extensive applications in the pharmaceutical industry, particularly in the production of medicinal drugs for skin disorders, pancreatitis, kidney disorders, myocardial infarction, liver diseases, diabetes, and autoimmune & inflammatory diseases. In addition, they are used in bone diseases treatment and as biocatalysts in the food production industry, agricultural industry, and fermentation industry. Specialty enzymes are also used in the biotechnology sector for molecular biology applications, gene therapy, DNA sequencing, and DNA modification. The market includes various types of enzymes like catalase, tyrosinase, anhydrase, elastase, dismutase, protease, hyaluronidase, pegademase, urokinase, glucocerebrosidase, deoxyribonuclease, asparaginase, streptokinase, cysteine proteinases, phospholipases, nucleases, polymerases, and digestive enzymes. The market is segmented into the pharmaceutical segment, biodiesel production in the biofuel sector, and the carbohydrases segment. Animal-derived enzymes and plant sources are the primary sources of specialty enzymes. The market is driven by the aging population, chronic diseases, and diagnostic methods. The market includes key players like Novozymes, DuPont, Danisco, Genencor International, and DSM. Specialty enzymes find applications in various industries like food industries, oil spills, waste degradation, and diagnostic solutions. They are used in alcoholic beverages production, fermentation process, and biosimilar development. Some of the key enzymes include glucose oxidase, cellulases, invertases, pectinases, rennet, proteases, amylases, and lipases. The market is expected to grow at a CAGR of 5.5% during the forecast period.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
