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The proteins that act as biological catalysts to accelerate the reaction are known as enzymes. Enzymes are involved in almost all the metabolic reactions that occur within a cell to sustain life. Redox enzymes are the enzymes that catalyzes the redox reactions between the molecules involved in the reaction. Redox enzymes are used in chemical and other industrial uses which need specific catalysts. Though enzymes are for specified application, newer enzymes are designed to catalyze the reaction that does not occur in nature.
The global redox enzymes market is majorly driven by the high demand from the pharmaceutical sector. Rise in the chronic diseases like digestive diseases and inflammations have boosted the use of enzymes in pharmaceutical and medical sector. Additionally, the high demand for renewable energy sources like biofuel which involves use of redox enzymes is expected to boost the market growth. Increasing awareness out protein engineering, research and designing of newer enzymes is likely to create positive impact on the market growth.
However, the sensitivity of enzymes to temperature and pH along with the safety issues related to handling of enzymes is expected to hamper the market growth.
Key Market Driver -
Growing pharmaceutical market may drive redox enzymes market
Key Market Restraint -
Safety concerns related to enzyme handling
Based on type, the market is segmented into Catalase, Glucose Oxidase, Laccase, and other. Based on application, the market is segmented into Food, Beverages, Detergents, Textiles, Pharmaceuticals, Chemical, Industrial and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global redox enzymes market share is competitive. Some of the key players in the market include BASF, AB Enzymes, Soufflet Group, Novozymes, Amano Enzyme, DSM, Sunson, and Others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share owing to rise in healthcare expenditure and increasing demand for food & beverage market. Asia Pacific is expected to be the largest and fastest growing market during the forecast period attributed to the high demand from pharmaceutical, food & beverages, and chemical industries. Europe is anticipated to show moderate growth due to extensive expenditure on the R&D of pharmaceutical business. Latin America and Middle East and Africa are expected to show substantial growth by the end of forecast period.
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