10 Apr, 2020, 10:30 ET
CHICAGO, April 10, 2020 /PRNewswire/ -- The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.
At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Specialty Enzymes Market. We are working diligently to help companies take rapid decisions by studying:
- The impact of COVID-19 on the Specialty Enzymes Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
- The rapid shifts in the strategies of the Top 50 companies in the Specialty Enzymes Market
- The shifting short-term priorities of the top 50 companies' clients and their client's clients
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According to the recent report "Specialty Enzymes Market by Type (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases, and Other enzymes), Source, Application (pharmaceuticals, Research & Biotechnology, Diagnostics, and Biocatalysts), Form, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Specialty Enzymes Market is estimated to be valued at USD 4.4 billion in 2019 and is projected to reach USD 6.6 billion by 2025, recording a CAGR of 6.9% in terms of value. The growing concerns about the enzyme quality in pharmaceuticals & diagnostics and rise in demand for non-harmful biological catalysts are factors that are projected to drive the growth of the specialty enzymes market, globally.
Browse in-depth TOC on "Specialty Enzymes Market"
110 – Tables
53 – Figures
180 – Pages
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The microorganism segment is projected to witness significant growth during the forecast period.
Based on source, the specialty enzymes market is segmented into microorganism, plant, and animal. The microorganism segment is projected to witness the highest growth during the forecast period, as enzymes obtained from microbial sources lead to low production costs. Furthermore, they contain more predictable and controllable enzyme content. In addition, as enzymes obtained from microbial sources can be cultured in large quantities in a short period, microorganisms are the primary source of specialty enzymes.
The polymerases & nucleases segment is projected to account for a major share in the specialty enzymes market during the forecast period.
By type, the specialty enzymes market is segmented into carbohydrases, proteases, lipases, polymerases & nucleases, and other enzymes (such as catalases, laccases, oxidases, phosphatases, kinases, esterases, and pectinases). Polymerases & nucleases have been bolstering the biotechnological advancements for research & developments in the various industries. They have been used for molecular cloning to manipulate nucleic acids to generate advanced enzymes available today for commercial uses. Polymerases and nucleases have been highly used in the pharmaceutical industry for biotechnological innovations to manufacture various types of drugs. Moreover, their usage bolsters rapid developments of new diagnostic tests that target DNA and RNA substrates.
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The North American region dominated the specialty enzymes market with a market share of 48.8% in 2018, whereas Asia Pacific is projected to witness the highest growth rate.
The specialty enzymes market in North America is dominating due to the increasing demand for enzymes in specialty applications. Technological innovations in machinery, optimization of production, logistics, and globalization of business have made the pharmaceutical industry one of the essential sectors in the North America region. However, the shift of industrial operations from developed regions, such as North America and Europe to Asia Pacific, has further contributed to the growth of the specialty enzymes market in Asia Pacific region. The use of specialty enzymes in biotechnology advancements such as drug cloning, transgenic organisms, and gene modification has been fueling the market in Asia Pacific. Furthermore, the European consumers have shown an inclination toward clean-label and organic products. This has enabled manufacturers to consider organic ingredients as key components of the products. Due to this, the specialty enzymes market in the European region is led by the growing focus on the production of pharmaceutical products, owing to the functional benefits of enzymes.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as BASF (Germany), Novozymes (Denmark), Roche Holding (Switzerland), DuPont (US), Codexis (US), Dyadic International (US), Advanced Enzymes (India), Amano Enzymes (Japan), Sanofi (France), Biocatalysts (UK), Enzyme Supplies (UK), BBI Solutions (UK), Specialty Enzymes & Probiotics (US), Amicogen (South Korea), Antozyme Biotech (India), Enzyme Development Corporation (US), Nagase & Co. Ltd. (Japan), Sekisui Diagnostics (US), Merck (Germany), and Biovet (Bulgaria).
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