LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global specialty enzymes market report. This research report also lists four other prominent vendors that are expected to impact the market during the forecast period.
The specialty enzymes market is expected to grow rapidly owing to the increasing demand from the pharmaceutical sector and other fast-growing applications in the diagnostics sector. The biotechnology sector is one of the fastest growing sectors that are impacting the specialty enzymes market.
Competitive vendor landscape
The global specialty enzymes market is consolidated due to the presence of a few vendors. Growing pharmaceutical sector coupled with demand for specialty enzymes for diagnostics has spurred the demand for growth in specialty enzymes.
“The focus on R&D, expansion strategies, customization of product offerings, and engagement of existing customers to attract potential customers has increased. Customers seek innovative and efficient enzymatic solutions while being price sensitive,” says Hitesh Bhatia, a lead specialty chemicals research analyst from Technavio.
Global and local players are trying to hold a competitive position in the market by focusing on novel application enzymes. Global expansions are on the rise to tap growth prospects in developing economies. Strategic alliances with local manufacturers will aid global manufacturers to increase their offering and gain a regional foothold.
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Top five specialty enzymes market vendors
AST Enzymes engages in the manufacture of pharmaceutical-grade enzyme supplements for cardiovascular, anti-inflammatory, joint, digestive, and colon health. It formulates and creates enzyme supplements that are manufactured using non-genetically modified (non-GM) natural ingredients.
BASF engages in the production of enzymes for human and animal nutrition and for detergents and cleaners. The acquisition of Verenium (now BASF Enzymes), was the biggest strategic decision taken by BASF. It enabled the company to access an enzyme technology platform for industrial enzymes.
Codexis has a proprietary protein engineering platform, CodeEvolver. It offers specialty enzymes and screening kits. The enzymes manufactured from CodeEvolver platform are used to produce key ingredients in various blockbuster drugs, including atorvastatin, sitagliptin, simvastatin, esomeprazole, rivastigmine, and crizotinib.
DSM is a life sciences and material sciences company that caters to a wide range of markets, including animal nutrition and health, automotive and transportation, building and construction, crop protection, electrical and electronics, energy, marine, manufacturing and equipment, life protection, furniture, food and beverages, dietary supplements, flavors and fragrances, medical, packaging and graphic arts, paints and coatings, personal care, pharmaceuticals, sports, leisure and consumer goods, and textiles and clothing industries.
Novozymes is one of the leading manufacturers of industrial enzymes. It designs, manufactures, and markets industrial enzymes, biopolymers, and microorganisms. The company offers its products to various industries and operates through five market segments: Household care, food and beverages, agriculture and feed, and technical and pharmaceutical.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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