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.
Browse the full report Specialty Enzymes Market – Growth, Future Prospects and Competitive Analysis, 2017–2025 at https://www.credenceresearch.com/report/specialty-enzymes-market
Strong demand from pharmaceutical industry for advanced enzymes for drug discovery and development and perpetual introduction of novel specialty enzymes are majorly driving the global specialty enzymes market. The demand for biocatalyst enzymes, pharmaceutical enzymes, biotechnology and diagnostic enzymes is expected to experience solid growth through the forecast period. Growth of the overall specialty enzymes market will significantly benefit from grwth in demand for high-value enzymes. Innovation in the nature of enzymes and growth in range of applications of such enzymes will further support the progress of this market.
Among the considered enzyme types, nuclease and polymerase enzymes will retain strong growth during the forecast period, due to growing focus of pharmaceutical companies on harnessing the capabilities of biotechnological advancements in development and introduction of novel drugs. Swift introduction and development of novel diagnostic solution that target DNA and RNA substrates will give additional boost to these segments.
Considering the given range of application areas of specialty enzymes, it is noticed that these enzymes are used in less amount in therapeutic/pharmaceutical applications; however, this segment demands highly specific and pure enzymes. This will play a key role in determining the consumption manner of specialty enzymes in the global market. Growing use of specialty enzymes in therapeutics for cancer, pain and inflammation, lysosomal storage disorders, cardiac diseases, etc. is a significant factor fueling the demand for specialty enzymes in pharmaceutical application and research and biotechnology.
Geographically, United States and thereby North America dominate the global specialty enzymes market. Growing funding in research and development focused on introduction of novel therapeutics and diagnostic solutions are the most prominent contributor to the dominance of this region. Swift adoption of novel technologies in biotech and pharma sectors in Europe has aided in contributing to the prominence of European market on the global front. On the other hand,, growing CRO and CMO activities in Asia Pacific will make the region the fastest progressing market during the forecast period.
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.