PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1181675
PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1181675
The global specialty enzymes market is expected to grow at a CAGR of 7.46% during 2022-2027.
MARKET OVERVIEW
MARKET TRENDS & DRIVERS
Increased Use in Diagnostics Sector
Increasing Demand from Pharmaceutical Industry
INDUSTRY RESTRAINTS
Technical Barriers Affecting Specialty Enzymes Market
SEGMENTATION INSIGHTS
INSIGHTS BY END-USE
In the pharmaceutical industry, specialty enzymes are very useful and good for treating various diseases. As there is increasing demand for pharmaceutical products, the enzyme has become essential to meet the demand for sustainable and safe industry processes. The specialty enzymes are primarily used in the pharmaceutical and biotechnology industry for research & development and diagnostics. The global specialty enzymes market in the pharmaceutical industry was valued at USD 976.56 million in 2021. The demand for specialty enzymes in North America and APAC is very high due to the increasing pharmaceutical and biotechnology industry.
In the biotechnology industry, specialty enzymes are used to increase biochemical reaction rates. Lipases are used in dietary drugs and it is used to increase the metabolism rate. Polymerases & nucleases are used in DNA amplification. In DNA amplification, the increase in the number of the gene causes an increase in proteins and RNA. Thus, it may increase the cancer cells or lower the anticancer cells. Hence, the polymerases & nucleases-based enzymes demand is growing in the global specialty enzymes market.
Segmentation by End Use
INSIGHTS BY TYPE
Carbohydrases have dominated the global specialty enzymes market and is expected to reach USD 1.9 billion by 2027. Carbohydrases are mainly used in the pharmaceutical industry as specialty enzymes. Most of these enzymes used in the pharmaceutical industry are produced from microorganisms, animals, and plants. Carbohydrases are further classified into glucosidase, pectinases, alpha, beta amylases, cellulases, mannanases, galacto, and pullulanase. These are the cost-effective processes in industrial applications; thus, a cheap technique is required to obstruct.
The global proteases-based specialty enzymes market surpassed USD813 million in 2021. The proteases are used in the biotechnology, pharmaceutical, and diagnostics industries-the high use of proteases in the pharmaceutical industry for prognostic and diagnostic biomarkers. Based on the catalysis mechanism, the proteases are classified into additional classes, such as glutamic, aspartic, metalloproteases, threonine, cysteine, and serine proteases which activate the water molecule and attack the proteins.
Segmentation by Type
INSIGHTS BY SOURCE
Globally, microorganisms-based enzymes contributed 77.47%, followed by animal and plant-based enzymes in 2021 in the global specialty enzymes market. The demand for specialty enzymes is very high in North America, followed by Europe and APAC. Microorganisms and plant-based enzymes are easily found in the environment. Animal-based enzymes have fewer resources, and it isn't easy to produce in bulk quantities. Thus, companies are focusing on producing enzymes from microorganisms and plants.
The global plants-based specialty enzymes market was valued at USD 297.07 million in 2021. These are used in the agriculture industry to reduce insects from crops. The few plant-based enzymes are phosphatase, esterase, glucanase, chitinase, and others. These enzymes play a crucial role in the production of nutrition. Further, plant-based enzymes are being used to manufacture drugs in the pharmaceutical industry to improve the digestive system.
Segmentation by Source
GEOGRAPHICAL ANALYSIS
The global specialty enzymes market is diverse, with many established and potential growth markets. North America is the leading market because of rapidly developing infrastructure and readily increasing population, increasing demand for various pharmaceutical, biotechnology, and diagnostics industries. The specialty enzymes market in North America was valued at USD 1.2 billion in 2021.
Europe is the second-largest market for specialty enzymes. The growth is supported by the increasing demand for healthy pharmaceutical products, which is attributed to the rising health consciousness. Germany, France, Italy, Spain, the UK, Russia, and others led the region. In European countries, various companies are producing specialty enzymes that contribute to the global specialty enzymes market, such as BASF SE (Germany), Johnson Matthey (UK), Biocatalysts (UK), BBI Solutions (UK), and others. Furthermore, the demand is expected to grow significantly as the APAC region population has grown tremendously in recent years. China, Japan, India, and South Korea led the region. The population of APAC countries is increasing rapidly; thus, demand for pharmaceutical and diagnostics specialty enzymes is increasing. China, India, and Japan are the major pharmaceutical industry players in the APAC region.
Segmentation by Geography
COMPETITIVE LANDSCAPE
The major companies in the specialty enzymes market are following the merger and acquisition strategy. This gives companies a competitive advantage that boosts their market share of the company. The key companies have undertaken various strategies to grow in the market. The growth in sustainable processes and initiatives has challenged all companies globally. Investments in R&D, technological advancement, and environmental and economic challenges drive the demand for innovative and sustainable specialty enzyme products.
Some major players in the global specialty enzymes market include Roche (Switzerland), BASF SE (Germany), DuPont (US), Novozymes (Denmark), and DSM (Netherlands). These players have adopted strategies like acquisitions, expansion, joint ventures, new product development, and others to increase their revenues in the industry. Other prominent companies such as Chr. Hansen Holding A/S (Denmark), Codexis (US), BBI Solutions (UK), and others have invested significant capital in R&D to develop specialty enzymes-based products that will appeal to customers. Therefore, these other prominent companies are giving tough competition to major companies.
Key Vendors
Other Prominent Vendors
KEY QUESTIONS ANSWERED
LIST OF TABLES