Specialty Enzymes Market Research, 2031
The global specialty enzymes market size was valued at $1.2 billion in 2021, and is projected to reach $2.2 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031. Enzyme is a substance that acts as a catalyst in living organisms, regulating the rate at which chemical reactions proceed without itself being altered in the process. Biological processes that occur within all living organisms are chemical reactions, and most are regulated by enzymes. Without enzymes, many of these reactions would not take place at a perceptible rate. Enzymes catalyze all aspects of cell metabolism.
This includes digestion of food, in which large nutrient molecules (such as proteins, carbohydrates, and fats) are broken down into smaller molecules, conservation and transformation of chemical energy and construction of cellular macromolecules from smaller precursors. Many inherited human diseases, such as albinism and phenylketonuria, result from a deficiency of a particular enzyme. Enzymes also have valuable industrial and medical applications. Use of enzymes in medicine include killing disease-causing microorganisms, promoting wound healing, and diagnosing certain diseases.
Pharmaceutically important enzymes are an important component of the pharmaceutical market. They are broadly defined as prodrugs that target a specific biological reversible or irreversible reaction to treat a particular disease. Enzymes used for pharmaceutical applications include cysteine proteinases, asparaginase, streptokinase, urokinase, deoxyribonuclease I, hyaluronidase, and glucocerebrosidase. Immobilized enzymes are also used in the pharmaceutical industry.
The specialty enzymes market size is expected to witness moderate growth during the forecast period, owing to increase in prevalence of chronic diseases such as cancer and rheumatoid arthritis. Furthermore, expansion of food industries drives the demand of specialty enzymes. The enzymes such as lipases, amylases, proteases, rennet, pectinases, invertases, cellulases, and glucose oxidase plays an important role in food processing industry. However, the complexities in biosimilars development may hinder the growth of market.
The specialty enzymes market share is segmented on the basis of application, source, type and region. Based on application market is classified into pharmaceuticals, biotechnology research & development and diagnostics. On the basis of source, the market is bifurcated into microorganisms, plants and animals. By type market is divided into carbohydrases, proteases, lipases, polymerases & nucleases and other enzymes. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Type Segment review
By type, the specialty enzymes market trends is divided into carbohydrases, proteases, lipases, polymerases & nucleases and other enzymes. Carbohydrases segment was the highest revenue contributor to the market. Owing to increase in consumption of dietary supplements and digestive enzymes.
The polymerase & nucleases segment is estimated to be the fastest growing segment during the specialty enzymes market forecast period. Gene therapy holds promise for treating a wide range of diseases, such as cancer, cystic fibrosis, heart disease, diabetes, hemophilia and AIDS. Thus, upsurge in prevalence of cancer propels the growth of this segment.
Application Segment Review
By application, the pharmaceuticals segment was the highest revenue contributor to the market. This is owing to the rise in demand of specialty enzymes in drug synthesis and increase in R&D activities for development of novel probiotic drinks and supplements.
The diagnostics segment is estimated to be the fastest growing segment. Owing to increase in prevalence of various diseases such as cancer, diabetes, heart diseases and renal disorders drives the growth of market.
Source Segment Review
By source, the microorganism’s segment was the highest revenue contributor to the market. Due to increasing use of amylases in biotechnology and pharmaceutical industries would drive the microorganism-derived specialty enzymes market growth.
The animal’s segment is fastest growing segment during the forecast period. Owing to rise in prevalence of digestive disorders and rise in demand of animal-derived enzymes as health supplements drives the growth of market.
Region Segment Review
Region wise, the specialty enzymes market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the largest shareholder in the specialty enzymes market analysis in 2021. Rise in number of specialty enzymes product approvals and product launch for the treatment of diseases contributes in the growth market.
Asia Pacific is estimated to grow fastest during the forecast period. Owing to increase in incidences of cardiovascular diseases, high prevalence of various cancers and rise in product launches in the region.
Key players operating in the global specialty enzymes market oportunity include Alphazyme LLC, Amano Enzyme, Antozyme Biotech, Enzyme Development Corporation, BBI Solution, Biocatalyst, Novoenzymes, Specialty Enzymes and Probiotics, International Flavors and Fragrances Inc and Enzyme Supplies Ltd.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the specialty enzymes industry, and the current trends and future estimations to elucidate imminent investment pockets.
- It presents a quantitative analysis of the market from 2022 to 2031 to enable stakeholders to capitalize on the prevailing specialty enzymes market opportunity.
- Extensive analysis of the specialty enzymes industry based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
Specialty Enzymes Market Report Highlights
Key Market Players
Antozyme Biotech, Alphazyme LLC, Novozymes, International Flavor & Fragrance Inc, Specialty Enzyme and Probiotics, Enzyme Development Corporation, BBI Solutions, Amano Enzyme, Enzyme Supplies Limited, Biocatalyst
This section provides opinions of top level CXOs in the specialty enzymes market. According to the CXOs, specialty enzymes have gained popularity in recent years, owing to their potential applications in various industries such as pharmaceutical, biotechnology research, and diagnostics.
By type, the specialty enzyme market includes the carbohydrase, proteases, lipases, polymerases & nucleases, and other enzymes. Specialty enzymes have application in treatment of various diseases such as cancer, arthritis, and liver diseases.
Factors such as increase in use of specialty enzymes in the diagnostic industry, rise in application of enzymes in the food industry, and rise in development of advanced specific enzymes drugs drive growth of the specialty enzymes market. In addition, increase in geriatric population and rise in prevalence of various diseases are expected to contribute toward growth of the specialty enzymes market.
North America is expected to witness highest growth, in terms of revenue, owing to rise in incidences of cancer patients, presence of key players for manufacturing and developing of specialty enzymes, and expanding food industry in the region.
However, huge maintenance cost of enzyme products and rise in safety concerns for contaminated specialty enzymes hamper the market growth.