February 27, 2020

Specialty Enzymes Market Is Expanding at a CAGR of 8.5% From 2017 To 2025

According to the latest report published by Credence Research, Inc. “Specialty Enzymes Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global specialty enzymes market was valued at US$ 1,826.9 Mn in 2016, and is expected to reach US$ 3,844.4 Mn by 2025, expanding at a CAGR of 8.5% from 2017 to 2025.

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Specialty Enzymes Market

Market Insights:

Strong demand from the pharmaceutical industry for advanced enzymes for the discovery and development of drugs and the perpetual introduction of novel specialty enzymes is the main driving force behind the global market for specialty enzymes. The demand for biocatalyst enzymes, pharmaceutical enzymes, biotechnology and diagnostic enzymes is expected to grow steadily over the forecast period. Growth in the overall market for specialty enzymes will significantly benefit from increased demand for high-value enzymes. Innovation in the nature of enzymes and growth in the range of applications of these enzymes will further support the progress of this market.

Nuclease and polymerase enzymes will continue to grow strongly among the enzyme types considered during the forecast period, due to the growing focus of pharmaceutical companies on harnessing the capabilities of biotechnological advancements in the development and introduction of novel drugs. The rapid introduction and development of a novel diagnostic solution targeting DNA and RNA substrates will provide additional boost to these segments.

Considering the range of application areas of specialty enzymes, it is noted that these enzymes are used to a lesser extent in therapeutic / pharmaceutical applications; however, this segment requires highly specific and pure enzymes. This will play a key role in determining the pattern of consumption of specialty enzymes on the global market. Growing use of specialty enzymes in cancer therapy, pain and inflammation, lysosomal storage disorders, heart disease, etc. is a significant factor fueling the demand for specialty enzymes in pharmaceutical applications and research and biotechnology.

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Geographically, the United States and thus North America dominate the global market for specialty enzymes. Growing funding for research and development focused on the introduction of novel therapeutics and diagnostic solutions is the most prominent contributor to the region’s dominance. The rapid adoption of new technologies in the biotech and pharmaceutical sectors in Europe has helped to make the European market more prominent on a global scale. On the other hand, growing CRO and CMO activities in Asia Pacific will make the region the fastest-growing market in the forecast period.

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The most prominent players in the global specialty enzymes market include Novozymes, E. I. du Pont de Nemours and Company, Roche Holding AG, BASF SE, Life Technologies Corporation, Advanced Enzyme Technologies Ltd., Affymetrix, Inc., Codexis, Inc., Amano Enzyme, Inc., Sanofi S.A. and others. This report also highlights the major market dynamics currently prevalent in the global specialty enzymes market, along with chief market growth initiatives taken by the market players. Along with estimations and forecast for the considered products, sources and applications of specialty enzymes, this report also includes market estimation and forecast for chief country-level markets and regional cross sectional analysis for the overall regional markets.

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