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Enzymes are protein macromolecules that act as biocatalyst and facilitates the rate of a reaction without getting altered in the chemical reaction. Numerous chemical reactions take place in all living organisms, most of which are regulated by enzymes. Depletion in the capacity of the body’s enzymes often leads to pain, indigestion, inflammation, immune deficiency, and many others. Use of traditional medical products only provides temporary relief whereas enzymes act on the underlying cause of health problems by binding to the target site and converting multiple target molecules into desired products. Specialty enzymes have valuable medicinal and industrial application.
Specialty enzymes have a variety of uses in the pharmaceuticals industry, biofuel, biotechnology, food supplements, and many others. Increase in the prevalence of chronic digestive disorders, growing investments in the research and development activities towards the development of new digestive aids, and growing acquisitions among players are likely to boost the specialty enzymes market during the forecast period. In a strategic decision, BASF acquired 71% of the enzyme producing company Verenium, in an acquisition deal, resulting in the creation of one of the biggest enzymes companies, leading to greater availability of specialty enzymes.
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One of the key drivers for the growth of the specialty enzymes market is the increasing prevalence of digestive disorders such as indigestion and inflammations and also other disorders such as immunodeficiency and pain. Specialty enzymes enable the swift and efficient relief of these problems and the provides a wide range of the applications across a variety of segments of the specialty enzymes is also contributing positively to the market growth. In addition, the technological advancements in the specialty enzymes are also likely to fuel the growth of specialty enzymes market during the forecast period.
However, the huge cost of maintenance of specialty enzymes products and growing safety concerns due to risks of contaminations of the specialty enzymes are likely to inhibit the growth of specialty enzymes market during the forecast period.
Some of the major companies that are present in the global Specialty Enzymes market are Specialty Enzymes & Probiotics, Merck KGaA, Aumgene Biosciences, Amano Enzyme Inc., Dyadic International Inc., Biocatalysts, Advanced Enzyme Technologies, BBI Solutions, Codexis, AB Enzymes, among others
By Product Type
· Biotechnology R&D
By End User
· Pharmaceutical Industries
· Biotechnological Companies
· Diagnostic Clinics
· Education & Research Institutes
· North America (U.S. and Canada)
· Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
In terms of product type, proteases account for the largest proportion of the specialty enzymes market, owing to the numerous applications in various industrial sectors such as cosmetics, food, pharmaceuticals, leather, and detergent industries.
The global Specialty Enzymes market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America followed by Europe are anticipated to dominate the global specialty enzymes market in the forecasting period owing to the presence of key biopharmaceutical companies in the region and growing acquisitions and investments by major key players in research activities for the development of potent specialty enzymes. Asia Pacific is anticipated to register higher CAGR owing to the growing expenditure in healthcare domain and the growing demand for specialty enzymes in diagnosing many diseases such as cardiovascular disease, cancer, etc.
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