Specialty Enzymes Market worth $9.2 billion by 2029 - Exclusive Report by MarketsandMarkets™

CHICAGO, July 3, 2024 /PRNewswire/ — The global Specialty Enzymes Market size is estimated to be valued at USD 6.1 billion in 2024 and is projected to reach USD 9.2 billion by 2029, recording a CAGR of 8.5% from 2024 to 2029 according to a report published by MarketsandMarkets™. The biopharmaceutical industry’s rapid expansion, fueled by innovations in biotechnology and personalized medicine, offers significant growth opportunities for the specialty enzymes market. Enzymes are crucial in various biopharmaceutical manufacturing stages, such as protein expression, purification, and modification. They play a vital role in developing biologics, including monoclonal antibodies, vaccines, and gene therapies. With an aging population and a rising incidence of chronic diseases, the demand for biopharmaceuticals is increasing, consequently driving the need for enzymes in biopharmaceutical production.

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Advancements in enzyme engineering have enabled the discovery of new enzymes from natural sources, ensuring their safety and efficacy in various applications. This includes their use in producing specialty pharmaceuticals and in biocatalytic processes. A recent study by the University of Notre Dame researchers in January 2022 emphasized biocatalytic depolymerization as an efficient and sustainable method for plastic treatment, addressing environmental concerns and enhancing recycling efforts. Additionally, the Manchester Institute of Biotechnology (MIB) has developed an enzyme engineering platform to improve plastic degradation using directed evolution techniques. These advancements in genetic engineering and enzyme engineering for sustainable practices highlight the specialty enzymes market’s growth potential, especially in addressing environmental issues and promoting eco-friendly solutions.

Protease segment is identified to be the fastest growing among the various types of enzymes during the forecast period.

Proteases’ rapid growth is crucial in the pharmaceutical industry, where they are used in drug formulation and development. Proteases facilitate the synthesis of therapeutic proteins and peptides, which are essential for treating diseases like cancer, diabetes, and autoimmune disorders. Additionally, proteases are widely utilized in the biotechnology sector for protein engineering and modification. They enable precise cleavage and modification of proteins, which is fundamental in developing novel biopharmaceuticals and conducting advanced research. The increasing investment in biotechnology research and development significantly contributes to the growing demand for proteases. For example, the use of proteases in the production of insulin, a critical drug for diabetes management, showcases their importance. Companies like Novo Nordisk leverage proteases to enhance the efficiency and yield of insulin production, ensuring a reliable supply to meet the rising global demand.

Enzymes sourced from animals hold a significant share in the specialty enzymes market

Animal-derived enzymes are often preferred for their high specificity and efficiency in catalyzing biochemical reactions, which is essential in various specialized processes. Pancreatic enzymes, such as trypsin and chymotrypsin, are extensively used in drug formulation and the production of biologics. These enzymes help in the precise cleavage of peptide bonds, which is crucial for the development and manufacturing of therapeutic proteins and peptides. The specificity and activity levels of these enzymes make them indispensable in pharmaceutical applications, contributing significantly to their market share.

Additionally, animal-derived enzymes are essential in clinical diagnostics. Enzymes like rennet, obtained from the stomachs of calves, are used in the coagulation process in cheese production, showcasing their importance in the food industry. However, in clinical settings, enzymes like lactase, derived from animal sources, are used in diagnostic kits to test for lactose intolerance. This demonstrates their versatility and utility in both food processing and medical diagnostics. The significance of animal-sourced enzymes is the use of thrombin, derived from bovine sources, in surgical procedures. Thrombin is crucial for promoting blood clotting and is used in topical hemostatic agents to control bleeding during surgeries. The high efficacy and reliability of thrombin in medical applications underscore the importance of animal-derived enzymes in the specialty enzymes market.

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North America region to dominate the specialty enzymes market during the forecast period.

North America holds the highest market share in the specialty enzymes market due to several key factors. The region is home to a robust pharmaceutical and biotechnology industry, characterized by significant investments in research and development. This investment landscape fosters innovation, leading to the development of advanced enzyme-based solutions. For instance, companies like Codexis, Inc. (US), are at the forefront of enzyme engineering, continuously developing new enzymes for pharmaceutical and industrial applications.

Moreover, the presence of well-established healthcare infrastructure and a high demand for diagnostic tools contribute to the market’s growth. Specialty enzymes are crucial in various diagnostic applications, including ELISA (Enzyme-Linked Immunosorbent Assay) tests, which are widely used in medical diagnostics. The increasing prevalence of chronic diseases such as cancer and diabetes in North America drives the demand for these advanced diagnostic tools, further propelling the specialty enzymes market.

In addition, North America benefits from favorable regulatory frameworks that support the biotechnology sector. Agencies like the FDA (Food and Drug Administration) ensure the safety and efficacy of enzyme-based products, facilitating their adoption in medical and industrial applications.

Key players in this market include BRAIN Biotech AG (Germany), Novozymes A/S (Denmark), Codexis, Inc. (US), Sanofi (France), Merck KGaA (Germany), Dyadic International Inc (US), Advanced Enzyme Technologies (India), Amano Enzyme Inc (Japan), F. Hoffmann-La Roche Ltd (Switzerland), New England Biolabs (US), BBI Solutions (UK), Creative Enzymes (US), Bioseutica (Netherland), and SEKISUI Diagnostics (US).

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