VANCOUVER, BC, April 20, 2022 /PRNewswire/ -- The specialty enzymes market size reached USD 4,565 Million in 2021 and is expected to register a significantly rapid revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Rise in demand for non-harmful biological catalysts in pharmaceuticals & diagnostics led to revenue growth of the market. Demand for specialty enzymes is increasing significantly due to increasing application of enzymes in the pharmaceutical industry.
Drivers:
Advancement of tools to optimize pharmaceutical production and quality concerns among people has increased usage of specialty enzymes. Healthcare and nutrition area of enzyme industry is growing at a much faster rate mainly led by discovery of newer applications such as obesity management, immunity development, cardiovascular health, anti-allergic applications, and others. Further, same enzymes can be used in other industries, thus expanding horizons of several big players. Factors such as multifunctional benefits of specialty enzymes across various applications and technological innovations to reduce consumption of chemical catalysts are contributing to revenue growth of specialty enzyme market.
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Restraints:
Although specialty enzymes technologies are being carried out by several researchers, there is a glut in supply of skilled technicians in areas where technology is used in real-world applications. One of the challenges in this field is lack of manpower who are sufficiently trained to work with advanced gene expression technologies. Several tools and techniques used for enzymes production mostly its carried out by batch fermentation and laser extent for continuous process, it requires advanced practical knowledge so that tests could be conducted accurately.
Growth Projections:
Global specialty enzymes market is expected to register a CAGR of 7.0% over the forecast period and revenue is projected to increase from USD 4,565 Million in 2021 to USD 8,392.57 Million in 2030. Rise in demand for non-harmful biological catalysts in pharmaceuticals & diagnostics sector is driving revenue growth of the market.
COVID-19 Impact Analysis:
The COVID-19 pandemic is expected to have a positive impact on specialty enzymes market. In response to COVID-19, there has been a reorientation of medical priorities across healthcare institutions, with treatment for COVID-19 patients being the utmost priority. This had an impact on the market for specialty enzymes. Specialty enzymes provide an important platform for bridging the gap between auto injectors and in-clinic care.
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Current Trends and Innovations:
Advancement in biotechnology allowed use of standardized products, through microbial enzymes production. Fungal amylase presents a medium thermos ability, performing in temperatures between 58°C and 78°C. Due to its characteristic, it is inactivated before complete starch gelatinization, then, its higher activity occurs on damaged starch. Baking industry started to demand for innovative solutions in order to improve benefits generated by the use of amylases.
Geographical Outlook:
North America specialty enzymes market revenue is expected to expand at a significantly robust CAGR over the forecast period due to technological advancements and development of novel and superior performing products in this region which made enzymes available for a wide range of applications.
Strategic Initiatives:
Major companies in the market report include Novozymes, Kerry, Inc., Chr. Hansen Holding A/S, Dupont De Nemours, Inc., Associate British Foods Plc, Specialty Enzymes & Probiotics., AST Enzymes, Sanofi, Amano Enzyme, Amgen Inc., Roche Holding, Codexis, Dyadic International, Thermo Fisher Scientific, Biocatalysts, and Merck KGaA.
- In August 2021, the U.S. Food and Drug Administration (FDA) approved Nexviazyme (avalglucosidase alfa-ngpt) for the treatment of patients of one year and older with late-onset Pompe disease, a progressive and debilitating muscle disorder that impairs a person's ability to move and breathe
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Emergen Research has segmented global specialty enzymes on the basis of source, type, form, application, end-user, and region:
- Source Outlook (Revenue, USD Million; 2019-2030)
- Microorganisms
- Plants
- Animals
- Type Outlook (Revenue, USD Million; 2019-2030)
- Carbohydrases
- Amylases
- Cellulases
- Other
- Proteases
- Lipases
- Polymerases & Nucleases
- Other Enzymes
- Form Outlook (Revenue, USD Million; 2019-2030)
- Liquid
- Dry
- Application Outlook (Revenue, USD Million; 2019-2030)
- Diagnostic Applications
- Clinical
- Chemistry
- Immunoassay
- Molecular
- Diagnostics
- Other
- Diagnostic
- Applications
- Pharmaceutical Applications
- Infectious Diseases
- Oncology
- Diabetes
- Neurology
- Other
- Food & Beverages Applications
- Cosmetic Applications
- Other Applications
- End-user Outlook (Revenue, USD Million; 2019-2030)
- Pharmaceutical Industries
- Diagnostic Centers
- Food Industries
- Cosmetic Industries
- Other End-users
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- Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- India
- China
- Japan
- South Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- Africa
- Rest of MEA
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