Specialty Enzymes Market size to Reach USD 8.21 Billion by 2028 | Cost-Effective and Eco-Friendly Aspects of Specialty Enzymes is Driving Industry Growth, says Emergen Research

Vancouver, British Columbia, Feb. 17, 2021 (GLOBE NEWSWIRE) -- The global specialty enzymes market size was USD 4.45 Billion in 2020 and is projected to reach a market size of USD 8.21 Billion at a steady CAGR of 8.0% in 2028, according to latest analysis by Emergen Research. This steady revenue growth of the market can be attributed to increasing investments in pharmaceutical industries for development of biological pharmaceuticals. Rising utilization of specialty enzymes in therapies for diseases such as lysosomal disorders, cardiovascular diseases, and cancer is a key factor expected to drive demand for specialty enzymes.

Advancements in enzyme engineering and increasing investment in the biotechnology sector for development are other factors expected to drive growth of the specialty enzymes market during the forecast period.  Rising need to minimize cost of pharmaceutical manufacturing has also resulted in increasing utilization of biocatalysts among pharmaceutical companies, which is expected to continue to drive demand for specialty enzymes. Microbial enzymes obtained from different microorganisms act as biocatalysts to perform reactions in bioprocesses in an economical and more eco-friendly manner as compared to chemical catalysts.

High maintenance cost of specialty enzymes products is expected to hamper demand for specialty enzymes during the forecast period. Risk of contamination is another factor projected to restrain growth of the specialty enzymes market to a certain extent.

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Key Highlights of Report  

• In December 2019, Codexis, Inc., which is a leading protein engineering company, announced a license agreement with Roche. The agreement was made to provide Roche with Codexis’ EvoT4 DNA ligase high-performance molecular diagnostic enzyme. The EvoT4 DNA ligase high-performance molecular diagnostic enzyme was developed using proprietary CodeEvolver protein engineering platform of Codexis. The enzyme is expected to be incorporated into Next Generation Sequencing (NGS) library preparation kits and other sequencing products of Roche.
•  Microorganisms segment accounted for largest revenue share of 2020. The feasibility and easy availability of microorganisms has increased utilization for production of specialty enzymes.
• Pharmaceutical segment revenue is expected to expand at a rapid CAGR of 8.3% during the forecast period. The eco-friendly and cost-effective aspects of specialty enzymes has resulted in increasing adoption of specialty enzymes in pharmaceutical industries.
• Polymerases & nucleases segment accounted for a significantly high revenue share in the specialty enzymes market in 2020. Adoption of genetic testing for various infectious and prenatal diseases is boosting utilization of polymerases and nucleases enzymes.
• North America accounted for largest revenue share contribution to the global specialty enzymes market in 2020. Advancements in enzyme engineering and increasing investment in the biotechnology sector in countries in the region are key factors supporting growth of the specialty enzymes market in the region.

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Emergen Research has segmented the global specialty enzymes market on the basis of source, application, type, and region:

• Source Outlook (Revenue, USD Billion; 2021–2028)
  • Plants
  • Microorganisms
  • Animals
• Application Outlook (Revenue, USD Billion; 2021–2028)
  • Biotechnology R&D
  • Pharmaceutical
  • Diagnostic    
• Type Outlook (Revenue, USD Billion; 2021–2028)
  • Proteases
  • Polymerases & nucleases
  • Carbohydrase
  • Lipases
  • Other enzymes        

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• Regional Outlook (Revenue, USD Billion; 2021–2028)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

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