According to 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 rise in demand for non-harmful biological catalysts in pharmaceuticals & diagnostics led to the growth of the market. In addition, the advancement of tools to optimize pharmaceutical production and quality concerns among people have increased the usage of specialty enzymes. Factors such as the multifunctional benefits of specialty enzymes across various applications and technological innovations to reduce the consumption of chemical catalysts are contributing to the growth of the specialty enzyme market.
The demand for specialty enzymes is increasing significantly due to the increasing application of enzymes in the pharmaceutical industry. Specialty enzyme usage in the pharmaceutical industry is mainly for drug manufacture, disease diagnostics, or as therapy.
Increasing incorporation of enzymes in therapies for diseases such as cancer, cardiovascular diseases, lysosomal storage disorders, and pain and inflammation management, among others, is a factor that fuels market demand.
In 2018, North America accounted for the largest market share in the specialty enzymes market. Technological advancements in this region have made enzymes available for a wide range of applications, and this segment is estimated to drive the growth of the market in the region. This region is projected to be the largest market due to the development of novel and superior performing products and global industrialization. The pharmaceutical industry in this region is also witnessing a rise in the usage of enzymes. The US is the dominant country, and the market in this region has reached its maturity. These factors are projected to contribute to the growth of the North American market.
Key players in the global market include BASF (Germany), DuPont (US), Roche Holding (Switzerland), Novozymes (Denmark), DSM (Netherlands), Sanofi (France), and Codexis (US).
