Specialty Enzymes Market: Pharmaceuticals Segment Accounted for the Largest Market Size in Coming Years

Posted on 2021-01-13 by MarketsandMarkets in Food & Beverage, Healthcare, Pharmaceuticals // 0 Comments

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.

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By application, the pharmaceuticals segment accounted for the largest market size in the specialty enzymes market during the forecast period. 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.

The polymerases & nucleases segment is projected to dominate the market during the forecast period. Polymerases & nucleases are used in specialty applications, such as pharmaceuticals, research & biotechnology, diagnostics, and biocatalysts. Polymerases & nucleases have been grouped together as they both work on nucleic acid polymers such as ribonucleic acid (RNA) and deoxyribonucleic acid (DNA), and are commonly used in similar applications. These types of enzymes catalyze the synthesis of deoxyribonucleic acid (DNA) and ribonucleic acid (RNA) polymers, as they are essential for all nucleic acid processing, including replication, repair, recombination, and transcription.

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Key players in the global market include BASF (Germany), DuPont (US), Roche Holding (Switzerland), Novozymes (Denmark), DSM (Netherlands), Sanofi (France), and Codexis (US).

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