Specialty Enzymes Market Size, Share, Growth Report 2032

Industry Prospective:

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. The report analyzes the global specialty enzymes market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the specialty enzymes market.

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Specialty Enzymes Market: Overview

Specialty enzymes play an important role as they act as crucial catalysts in helping various biochemical conversions and reactions. Over the years, the pharmaceutical and healthcare industry has found different ways of externally developing enzymes that are added to various industrial, and household products along with applications in the food & beverage industry where specially developed enzymes are used as ingredients that eventually act as health-boosting agents amongst consumers.

In the pharmaceutical industry, they are used extensively in biocatalysis, which is the development of sustainable and cost-effective drugs with small molecules in large quantities. Specialty enzymes are proteins acting as biocatalysts in very specific ways where they accelerate different reactions that lead to the production of intended molecules in drug development or the pharmaceutical industry.

Key Insights

• As per the analysis shared by our research analyst, the global specialty enzymes market is estimated to grow annually at a CAGR of around 6.69% over the forecast period (2022-2028)
• In terms of revenue, the global specialty enzymes market size was valued at around USD 1.19 billion in 2021 and is projected to reach USD 2.1 billion, by 2028
• An increasing number of diseases along with growing demand and pressure for finding a cure for conditions that have long prevailed without proper cures like cancer, diabetes, and others are expected to propel the global market growth in the coming years.
• Based on source segmentation, microorganisms were predicted to show maximum market share in the year 2021
• Based on application segmentation, pharmaceutical was the leading type in 2021.
• On the basis of region, North America was the leading revenue generator in 2021

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Covid-19 Impact

The global market cap witnessed massive growth during the pandemic owing to the increased pressure on the pharmaceutical and healthcare structure to not only generate more information on Covid-19 but accelerate the drug development process along with finding an effective cure for the disease. The highest growth was witnessed in the research & development sector.

Specialty Enzymes Market: Growth Drivers

Rising investment in the pharmaceutical industry to propel market growth

The global specialty enzymes market is projected to grow owing to the increasing investments and high growth rate of the pharmaceutical industry which has gained a higher momentum post the pandemic impact. An increasing number of diseases along with growing demand and pressure for finding a cure for conditions that have long prevailed without proper cures like cancer, diabetes, and others are expected to propel the global market growth in the coming years.

As per a report submitted by Mint, an Indian financial daily newspaper, the Indian pharmaceutical industry registered a growth of 12.1% in August 2021, the third consecutive month of a high growth rate. The biopharmaceutical industry of the US contributes around 3.2% of the region’s gross domestic product (GDP) and currently exceeds a value of USD 625 billion as per the PhRMA report. Increasing research activities may drive the global market cap further.

Specialty Enzymes Market: Restraints

Problems with biosimilar drugs may restrict market expansion

The global market size is projected to witness restricted growth due to problems and complexities associated with the development and prolonged exposure to biosimilar drugs which are medicines identical to medicines of biological origin. Some of the associated problems are the introduction of impurities or traces of DNA and cell protein, potentially impacting the quality of the product.

Specialty Enzymes Market: Opportunities

Growing applications in biotechnology to provide excellent growth opportunities

The global specialty enzymes market cap is anticipated to benefit from the growing applications of specialty enzymes in biotechnology which deal with the use of living bacteria and cells for scientific and industrial reasons. In 2021, global biotechnology generated a value of USD 1024 billion and is currently projected to grow at a CAGR of 14% in the next five years.

The development of biosimilar and recombinant products is projected to drive the biotechnology market along with increased strategic collaboration undertaken by the market players. For instance, in September 2013, Vernium, a leading specialty enzymes company, launched into an agreement with BASF, a Germany-based global multinational company and one the largest producers of chemicals, with BAFF occupying more than 71% of its stake in Vernium.

Specialty Enzymes Market: Challenges

Rising culture contamination to challenge the market expansion

There is a growing concern over the precautionary measures used to prevent contamination of the culture used to develop specialty enzymes. Since contaminated enzymes lead to potential health hazards, there is growing pressure on players in the pharmaceutical and biotechnology industries to develop completely secure methods of developing cultures to receive regulatory approvals from concerned authorities.

Specialty Enzymes Market: Segmentation

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

Based on the 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.

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.

Recent Developments:

• In November 2021, Novo Nordisk, a Danish multinational pharmaceutical company, and Novozymes, a Denmark-based international biotechnology company announced a collaboration that will combine the expertise of both companies for the development of advanced specialty enzymes to be used in regenerative medicines and biopharma processing
• In April 2022, Specialty Enzymes & Probiotics, a global manufacturer of probiotics and enzymes launched two advanced supplements for pet immunity. The probiotics are expected to target the gut section of the pet’s anatomy. The products are called ImmunoSEB™ PET and ProbioSEB CSC3™ PET

Specialty Enzymes Market Report Scope:

Specialty Enzymes Market: Regional Analysis

North America to lead market revenue during the projection period

The global specialty enzyme market is projected to be dominated by North America in the coming years as it has in 2021 owing to an increased number of approvals from the US Food and Drugs Administration for specialty enzyme products ranging from pharmaceutical products to pet healthcare.

The regional growth may be driven by the US due to increased investment in the pharmaceutical sector which has seen tremendous growth after the passing of the Affordable Care Act or Obamacare. The country holds the record of being a worldwide leader in terms of prescription drug spending per capita which represents around 3o to 40% of the worldwide market.

The regional pharmaceutical market was valued at USD 486.61 billion in 2021 and it may grow at a CAGR of 11.35% by 2028. Asia-Pacific is projected to grow due to an increasing number of patients suffering from digestive and cardiovascular diseases along with high registered cases of Cancer.

Specialty Enzymes Market: Competitive Analysis

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.

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