The global specialty enzymes market is expected to grow at a CAGR of around 6.3% from 2020 to 2027 and expected to reach the market value of around US$ 7,125.2 Mn by 2027.
Specialty enzymes are proteins and biological catalysts that are produced by the living organism and act as a catalyst to accelerate reactions and produce the desired results. These are the catalysts that carry out chemical reactions at an amazing high rate, within the mild conditions of temperature, pH, and pressure of the cells.
The increasing demand for non-harmful biological catalysts in pharmaceuticals & diagnostics is primarily driving the market value. Advanced tools to optimize pharmaceutical production, as well as growing investments in the research and development activities for new digestive aids, are supporting the market growth. The rising prevalence of chronic digestive disorders and growing acquisitions among players is further boosting the specialty enzymes market. Moreover, the alternative to chemical catalysts and the development of enzymes with a long shelf life is projected to create potential opportunities over the forecast period.
On the other side, huge cost involves in the maintenance of specialty enzymes products and rising safety concerns owing to the increased risk of contamination of specialty enzymes are likely to hinder the growth during the forecast timeframe.
Pharmaceutical segment accounted for the maximum share in 2019
Based on application, the pharmaceutical segment has registered a major share in the specialty enzymes market and the segment is also projected to maintain its dominance over the forecast period from 2020 to 2027. The wide range of applications and benefits of specialty enzymes in the pharmaceutical sector is particularly accelerating the market value. These are used in drug manufacturing, disease diagnostics, or in therapies for cancer, cardiovascular diseases, lysosomal storage disorders, and pain management among others.
The market research study on “Specialty Enzymes Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global Specialty Enzymes market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global Specialty Enzymes market, its type, source, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Specialty Enzymes market size and volume, and segment markets by type, source, application, and geography along with the information on companies operating in the market. The Specialty Enzymes market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
North America dominated the global market with major share
In 2018, North America accounted for the major share in the Specialty Enzymes Market and the region is also projected to maintain its dominance over the estimated period. The well-established healthcare infrastructure and accessibility to advanced solutions is driving the market value. Technological advancements and availability of enzymes for a wide range of application are driving the regional market value. The development of novel and superior performing products and global industrialization is further accelerating the regional market value. The US accounted for the major share in the regional market in terms of value. Furthermore, the Asia Pacific region is expected to experience the fastest growth over the estimated period from 2020 to 2027. The rapidly growing economy and rising awareness about the healthy life style is supporting the market value.
The players profiled in the report include Associate British Foods PLC, AST Enzymes, BASF (Germany), Biocatalysts (UK), Chr. Hansen Holding A/S, DuPont de Nemours, Inc., Kerry Inc., Novozymes, Sanofi (France), Specialty Enzymes & Probiotics, and Others.
Market By Type
Polymerases & nucleases
Market By Source
Market By Application
Market By Geography
Middle East & Africa
Specialty enzymes are proteins and biological catalysts that are produced by the living organism and act as a catalyst to accelerate reactions and produce the desired results.
The increasing demand for non-harmful biological catalysts in pharmaceuticals & diagnostics, advanced tools to optimize pharmaceutical production, growing investments in the research and development activities for the development of new digestive aids, rising prevalence of chronic digestive disorders and growing acquisitions among players are some of the factors driving the market value.
The market for specialty enzymes is expected to reach the market value of around US$ 7,125.2 Mn by 2027.
The market for specialty enzymes is expected to grow at a CAGR of around 6.3% from 2020 to 2027.
The pharmaceutical is the leading segment by application in the specialty enzymes market.
North America region held the highest market share in the specialty enzymes market.
Asia Pacific is expected to be the fastest growing market over the forecast period.