Global Specialty Enzymes Market To Generate A Revenue Of 2.1 Billion By 2028

The global specialty enzymes market size was worth around USD 1.19 billion in 2021 and is predicted to grow to around USD 2.1 billion by 2028 with a compound annual growth rate (CAGR) of roughly 6.69% between 2022 and 2028.

Specialty enzymes are artificially created enzymes with applications in the pharmaceutical and healthcare sector. Biologic enzymes are catalysts and in most cases classified as proteins. Enzymes are used to speed up a given chemical or biological reaction in the human body. During the process, these enzymes do not get destroyed but are used continuously.

Since they are important aspects of human health, pharmaceutical companies and research centers have shown high interest in the study and development of specialty enzymes that can be either used in medicines, novel drugs, and food & beverages or probiotics, which refers to the introduction of microorganisms into the body to benefit from its qualities.

Specialty enzymes have found extensive use in therapeutic modalities, which is the use of mechanical, thermal, light, and electromagnetic energy for therapeutic or curing purposes. These enzymes are cultured in research & development units in a contamination-free environment. Once created, specialty enzymes have to undergo quality checks to receive approvals from necessary regulatory authorities to be used in the real-life market.

Specialty enzymes witnessed a high demand during the pandemic majorly due to an increased interest of pharmaceutical players during the drug development process for the treatment of Covid-19. Since the virus itself was new and had a high mutation rate, research facilities worked extensively on learning about the nature of the virus and ways to treat it.

The global specialty enzymes market is projected to grow due to the increasing application of specialty enzymes in the food & beverages (F&B) sector. These enzymes are used in the manufacturing of food products like cheese, bread, vine, vinegar, and other consumables. In 2020, the food enzymes market was valued at USD around 3 billion and it may grow at a CAGR of 7.59% in the next five years.

The global market size may also be propelled by the high adoption rate of specialty enzymes in the drug development process owing to increased demand for effective drugs along with research on the future of medicinal products. As per an analysis by the Indian Health Metrics and Evaluation, the growth rate for cancer is one of the highest in India. In 2020, more than 1,392,178 people were diagnosed with various forms of cancer.

The problems with biosimilar drugs may restrict the global market expansion while growing applications in biotechnology are expected to provide excellent growth opportunities. However, rising culture contamination is anticipated to challenge the global market expansion.

The global specialty enzymes market is segmented based on type, source, application, and region

Based on type, the global market divisions are proteases, polymerases & nucleases, carbohydrates, lipases, and others. While carbohydrates dominated the global market in 2021, in the coming years, nucleases and polymerases may grow at the fastest CAGR. Gene therapy is projected to open multiple doors for further growth. As per official data, investment in gene therapy between 2014 and 2021 has witnessed a growth of 58.9% on average.

Based on source, the global market is segmented into animals, plants, and microorganisms. In 2021, the global market witnessed the highest revenue in the microorganisms segment due to the rising applications of amylases in the pharmaceutical and biotechnology industry. The animal segment is projected to grow at a faster rate during the projection period due to high cases of digestive disorders. In 2015, more than 3 million adults were reported to suffer from Crohn's disease.

Based on application, the global market divisions are biotechnology, pharmaceuticals, diagnostics, and research & development. In 2021, pharmaceuticals led the global market due to the extensive use of specialty enzymes in drug development processes along with increased R & D in the supplements and probiotic drinks market.

North America is anticipated to lead the global specialty enzymes market due to the growing advancements in the pharmaceutical industry and healthcare segment of the United States along with the increasing rate of product approvals. The presence of key market players is an important region for the US to generate high CAGR. Specialty enzymes & probiotics, a global giant in the global market is headquartered in the US. The company spends a hefty amount on product innovation and its products are used across players in the food, drinks, and supplements segment.

The expanding F & B segment of the US may also contribute heavily to the regional market growth which is projected to be driven by a growing number of players, and a high product innovation rate. In 2020, the F & B sector of the US was valued at over USD 990 billion. Asia-Pacific is projected to grow due to the rise of the healthcare sector. Between 2022 and 2023, the Indian pharmaceutical sector is projected to grow at a rate of 6%.

The global specialty enzymes market is led by players like F. Hoffmann-La Roche Ltd., Codexis Inc., Speciality enzymes and probiotics, DuPont Nutrition and Bioscience, Advance enzymes, Novozymes, Amano enzyme Inc., BBI Solutions, and Sekisui Diagnostics, among others.

Recent Developments:

• In March 2022, Amano Enzyme, a specialty enzymes supplier, announced the launch of Umamizyme Pulse, to be used in products based on plant protein
• In September 2022, Allozymes and CSM Ingredients announced a strategic tie-up for the development of a novel enzyme

This review is based on a report by Zion Market Research, titled “Specialty Enzymes Market By Source (Animals, Plants, and Microorganisms), By Application (Biotechnology, Pharmaceuticals, Diagnostics, and Research & Development), By Type (Proteases, Polymerases & Nucleases, Carbohydrases, Lipases, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.”- Report at https://www.zionmarketresearch.com/report/specialty-enzymes-market

The global specialty enzymes market is segmented as follows:

By Source

• Animals
• Plants
• Microorganisms

By Application

• Biotechnology
• Pharmaceuticals
• Diagnostics
• Research & Development

By Type

• Proteases
• Polymerases & Nucleases,
• Carbohydrases
• Lipases
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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