DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
The specialty enzymes market is projected to grow at a CAGR of 7.1% from 2019 to reach USD 6.6 billion by 2025.
Factors such as the rise in demand for non-harmful biological catalysts in pharmaceuticals & diagnostics and advanced tools to optimize pharmaceutical production are projected to drive the growth of the specialty enzymes market during the forecast period. However, the growth of the specialty enzymes market is inhibited by factors, such as high adaption costs involved for small & medium-sized enterprises. In addition, the lack of harmonization in the regulatory framework for the use of specialty enzymes inhibits the growth of this market.
By type, the proteases segment is projected to grow at the highest CAGR of 7.4% during the forecast period.
The proteases segment is projected to reach USD 871.2 million by 2025, recording a CAGR of 7.4% in terms of value. Proteases are enzymes essential for the digestion of protein and have become significant for use in the pharmaceutical industry. They can hydrolyze all types of proteins, provided that they are not components of living cells. These enzymes can be obtained from plants, animals, and microorganisms in several conditions, such as high salt concentrations.
By source, the microorganisms segment is estimated to account for the largest share.
Based on source, the specialty enzymes market is segmented into microorganisms, plants, and animals. The microorganisms segment is estimated to account for the largest share for the specialty enzymes market, as they are the primary source of specialty enzymes due to its special characteristics and other biochemical properties. In addition, microbial enzymes are an important source of raw materials for specialty applications due to their diversity. Key factors that encourage manufacturers to opt for enzymes from microbial sources are their active and stable nature and their capability to degrade a wide range of complex substrates into more useful energy sources.
By region, the Asia Pacific region is projected to grow at the highest CAGR of 8.0% during the forecast period.
The specialty enzymes market in the Asia Pacific region is largely driven by industrial shift and technological advancements that have made enzymes available for a wide range of applications. Developed markets such as North America and Western Europe are becoming mature, which has led to faster growth in developing markets such as Asia Pacific. Furthermore, the technological advancements in the pharmaceutical industry have contributed notably to the growth of the specialty enzymes market in this region.
- Rise in Demand For Non-Harmful Biological Catalysts in Pharmaceuticals & Diagnostics
- Advanced Tools to Optimize Pharmaceutical Production
- Lack of Harmonization in the Regulatory Framework
- High Adoption Costs Involved For Small & Medium Enterprises
- Alternative to Chemical Catalysts
- Technological Innovations And Wide Industry Scope
- Launching Enzymes With Long Shelf Life
- Encapsulation to Enhance Shelf Life
- High Raw Material Costs Limiting Enzyme Usage
- Concern Over Quality of Enzymes Used in Pharmaceuticals & Diagnostics
- Roche Holding
- Dyadic International
- Advanced Enzymes
- Amano Enzyme
- Enzyme Supplies
- BBI Solutions
- Specialty Enzymes & Probiotics
- Antozyme Biotech
- Enzyme Development Corporation
- Nagase & Co. Ltd.
- Sekisui Diagnostics
- Merck KGaA
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