Specialty Enzymes Industry is Expected to Reach $9.2 billion by 2029
/EIN News/ -- Chicago, July 12, 2024 (GLOBE NEWSWIRE) -- The global specialty enzymes market size is estimated to be valued at $6.1 billion in 2024 and is projected to reach $9.2 billion by 2029, recording a CAGR of 8.5%. In recent years, the specialty enzyme market has been experiencing significant growth, fueled by the increasing demand for bio-based solutions in pharmaceuticals and diagnostics has driven the need for highly specific and efficient enzymes.
For instance, enzyme replacement therapies for genetic disorders rely on precisely engineered enzymes to supplement missing enzymes in the body. Additionally, the rise of personalized medicine necessitates enzymes tailored to individual needs, further propelling market expansion. Moreover, advancements in biotechnology and gene editing techniques are creating new applications for specialty enzymes, solidifying their position as a cornerstone of innovation in various healthcare fields.
Key Players in the Specialty Enzymes Industry
- Novozymes A/S (Denmark)
- Codexis, Inc. (US)
- Sanofi (France)
- Merck KGaA (Germany)
- Dyadic International Inc (US)
- Advanced Enzyme Technologies (India)
- Amano Enzyme Inc (Japan)
- New England Biolabs (US)
- BBI Solutions (UK)
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=21682828
Scientists are creating ways to reuse enzymes many times, reducing costs and boosting the specialty enzyme market. Enzyme immobilization innovative technique involves attaching enzymes to a carrier surface, making them reusable and more robust for industrial applications. This translates to significant cost savings and reduces environmental impact. For instance, immobilized enzymes can be used in continuous biocatalysis processes, streamlining the production of pharmaceuticals and fine chemicals.
Furthermore, immobilized enzymes offer enhanced stability under harsh processing conditions, expanding their potential in various industrial settings. This innovation is poised to propel the specialty enzyme market by enabling more efficient and sustainable biocatalytic processes across diverse applications.
The specialty enzyme market is dominated by microorganism-derived enzymes due to several advantages. Microbes like bacteria and fungi can be easily cultivated in large fermentation tanks, allowing for scalable and cost-effective production. Additionally, microbes offer a vast genetic diversity, enabling scientists to harness enzymes with highly specific functions. This is crucial for pharmaceutical applications where precise and targeted enzymes are needed.
For instance, enzymes derived from microbes can break down complex molecules in medications, enhancing drug delivery and effectiveness. Microbes can be genetically modified to create enzymes with novel properties, further expanding their potential in drug development and personalized medicine. This adaptability and efficiency solidify microorganism-derived enzymes as the leading force in the specialty enzyme market.
The primary types of enzymes used in specialty applications include carbohydrases (such as amylases, cellulases, pectinase, lactase, mannanase, and pullulanase), proteases, lipases, and others like isomerases, transferases, beta-glucanases, arabinoxylanases, amyloglucosidase, and pullulanase. Additionally, enzymes find application in specialty fields such as pharmaceuticals, research and biotechnology, diagnostics, and biocatalysts.
The dominance of the pharmaceutical segment presents a unique opportunity within the specialty enzyme market. This prevalence is driven by the expanding demand for targeted and efficient therapies. Specialty enzymes offer distinct advantages in drug development, such as enabling precise drug delivery and facilitating the creation of novel enzyme replacement therapies for genetic disorders. As the pharmaceutical industry strives for innovation and personalized medicine solutions, this dominance is expected to continue fueling the growth of the specialty enzyme market.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=21682828
North America holds the highest market share in the specialty enzymes market due to several key factors. The region is home to a robust pharmaceutical and biotechnology industry, characterized by significant investments in research and development. This investment landscape fosters innovation, leading to the development of advanced enzyme-based solutions. For instance, companies like Codexis, Inc. (US), are at the forefront of enzyme engineering, continuously developing new enzymes for pharmaceutical and industrial applications.
Moreover, the presence of well-established healthcare infrastructure and a high demand for diagnostic tools contribute to the market's growth. Specialty enzymes are crucial in various diagnostic applications, including ELISA (Enzyme-Linked Immunosorbent Assay) tests, which are widely used in medical diagnostics. The increasing prevalence of chronic diseases such as cancer and diabetes in North America drives the demand for these advanced diagnostic tools, further propelling the specialty enzymes market.
Get access to the latest updates on Specialty Enzymes Market Comapnies and Specialty Enzymes Market Share
Browse Related Reports:
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.
