Specialty Enzymes Market to See Major Growth by 2025
Specialty Enzymes Market by Type (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases, and Other enzymes), Source, Application (pharmaceuticals, Research & Biotechnology, Diagnostics, and Biocatalysts), Form, and Region
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 growing concerns about the enzyme quality in pharmaceuticals & diagnostics and rise in demand for non-harmful biological catalysts are factors that are projected to drive the growth of the specialty enzymes market, globally.
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Based on source, the specialty enzymes market is segmented into microorganism, plant, and animal. The microorganism segment is projected to witness the highest growth during the forecast period, as enzymes obtained from microbial sources lead to low production costs. Furthermore, they contain more predictable and controllable enzyme content. In addition, as enzymes obtained from microbial sources can be cultured in large quantities in a short period, microorganisms are the primary source of specialty enzymes.
By type, the specialty enzymes market is segmented into carbohydrases, proteases, lipases, polymerases & nucleases, and other enzymes (such as catalases, laccases, oxidases, phosphatases, kinases, esterases, and pectinases). Polymerases & nucleases have been bolstering the biotechnological advancements for research & developments in the various industries. They have been used for molecular cloning to manipulate nucleic acids to generate advanced enzymes available today for commercial uses.
The specialty enzymes market in North America is dominating due to the increasing demand for enzymes in specialty applications. Technological innovations in machinery, optimization of production, logistics, and globalization of business have made the pharmaceutical industry one of the essential sectors in the North America region.
Leading companies are BASF (Germany), Novozymes (Denmark), Roche Holding (Switzerland), DuPont (US), Codexis (US), Dyadic International (US), Advanced Enzymes (India), Amano Enzymes (Japan), Sanofi (France), Biocatalysts (UK), Enzyme Supplies (UK), BBI Solutions (UK), Specialty Enzymes & Probiotics (US), Amicogen (South Korea), Antozyme Biotech (India), Enzyme Development Corporation (US), Nagase & Co. Ltd. (Japan), Sekisui Diagnostics (US), Merck (Germany), and Biovet (Bulgaria).