Due to the shift in the trend toward the use of specialized enzymes, also the demand for enzymes in the feed industry has increased as a result of rising meat product consumption, the market for Specialty Enzymes is experiencing rapid growth
JERSEY CITY, N.J., Oct. 27, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Specialty Enzymes Market" By Product (Protease, Carbohydrases, Polymerases and Nucleases), By Application (Pharmaceutical Applications, Biotechnology and R&D Applications), and By Geography.
As per the deep research carried out by Verified Market Research, the global Specialty Enzymes Market size was valued at USD 4.70 Billion in 2020 and is projected to reach USD 8.19 Billion by 2028, growing at a CAGR of 7.26% from 2021 to 2028.
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Browse in-depth TOC on "Specialty Enzymes Market"
202 - Pages
126 - Tables
37 - Figures
Global Specialty Enzymes Market Overview
Enzymes are natural additions that are included in food products to increase yield productivity, improve quality, and lengthen the goods' shelf lives. Specialty enzymes are proteins that act as biocatalysts in pharmacological and diagnostic activities to promote reactions and generate the desired outcomes. Specialty enzymes are important in the pharmaceutical industry for the formulation and delivery of drugs.
Pharmaceutical medication formulations based on enzymes are used to treat chronic diseases including cancer and AIDS. In the pharmaceutical sector, specialty enzymes are widely employed to create medications that cure several fatal diseases such cardiovascular conditions, cancer, aging-related pain, asthma, hay fever, and lysosomal storage disorders. Diagnostic enzymes are expensive and not widely used since the specialist enzymes required for diagnostics must be extremely pure and in small quantities.
The use of speciality enzymes to lessen dependence on traditional enzymes is the primary factor driving the growth of the global market for specialty enzymes. The demand for enzymes in the feed industry has increased as a result of rising meat and meat product consumption. The market's expansion was also sparked by the surge in demand for biological catalysts that are safe for use in pharmaceuticals and diagnostics. The use of specialty enzymes has also improved as a result of improvements in tools for modifying pharmaceutical manufacture and rising quality concerns among consumers.
Other significant aspects that contribute to the growth of the global specialty enzyme market include the increasing use of enzymes as treatments for chronic diseases, rising consumer desire for potent medications, and rising instances of digestive enzyme abnormalities. The growing savings in R&D is another recent trend that will encourage growth in the specialty enzymes market in the upcoming years. However, it is projected that problems maintaining the pH and operating temperature of customized enzymes may impede market expansion.
Threats to market expansion include legal and ethical concerns, as well as a lack of consumer knowledge about the benefits of specialist enzymes, particularly in developing nations. Nevertheless, market participants should expect future prospects due to the rising industrialization rate and the use of cutting-edge technology in the pharmaceutical sector in emerging regions.
Key Developments
- On September 2019, BASF entered into a cooperation agreement with Conagen, a leader in biotechnology research. Conagen has strong R&D capabilities for fermented ingredients. This decision will enable BASF to serve the market with one of the aroma ingredients with the highest demand, natural vanillin.
- In December 2019, Roche Holding agreed with Codexis to provide enzymes. Codexis will supply EvoT4 DNA ligase to Roche. EvoT4 DNA ligase is a high-performance molecular diagnostic enzyme.
- On April 2019, DuPont Nutrition & Biosciences launched its industry-leading OPTIMASE portfolio. This portfolio contains bio-based enzymes, which will be used for the cleaning of medical instruments. The product range is aimed at high performance and reduction in enzyme stabilizing ingredients while also saving space and cost.
Key Players
The major players in the market are Novozymes, Dupont, DSM, BASF, AB Enzymes, CHR. Hansen, Soufflet Group, Longda Bio-products, Biocatalysts, ORBA, Biovet.
Verified Market Research has segmented the Global Specialty Enzymes Market On the basis of Product, Application, and Geography.
- Specialty Enzymes Market, By Product
- Protease
- Carbohydrases
- Polymerases and Nucleases
- Lipase
- Other
- Specialty Enzymes Market, By Application
- Pharmaceutical Applications
- Biotechnology and R&D Application
- Specialty Enzymes Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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