Global Specialty Enzymes Market, By Type (Acylases, Hydratases, Humulin, Oxidase, Lyases, Restriction enzymes, Ligases, Polymerases, Lipases, Amylases, Proteases, Dehydrogenases, Glucouronidse, Others), Form (Dry, Liquid), Source (Microorganisms, Plants, Animals), Application (Pharmaceutical, Biotechnology Research and Development, Diagnostic, Bio-Catalyst)– Industry Trends and Forecast to 2029.
Market Analysis and Size
In the last few years, there has been a shift in trend toward the adoption of specialty enzymes in order to reduce reliance on conventional enzymes, and these enzymes are expected to penetrate the overall specialty enzymes market over the forecast period. Also because of their growing applications, particularly in the processing of fine chemicals and pure pharmaceutical drugs, pharmaceutical manufacturers all over the world have incorporated these specialty enzymes. Moreover, the market is largely impacted by the growing focus of manufacturers creating products that incorporate cutting-edge technology and collaborating with other organizations to facilitate faster endorsement and advertising of their products.
- Data Bridge Market Research analyses that the specialty enzymes market is expected to reach the value of USD 139.93 million by the year 2029, at a CAGR of 9.36% during the forecast period. The “Bone Anchored Aids for Hearing” accounts for the largest product segment in the specialty enzymes market, which is expected to grow with a CAGR of 6.5% within the forecasted period.
Biocatalysts are proteins that act as biocatalysts. Specialty enzymes are not the same as regular enzymes and are derived from plants, microorganisms, and animals. They are a relatively new technique for developing new food products. Food, tanning, textiles, feed, detergent, laundry, pharmaceuticals, cosmetics, and fine-chemical industries all use specialty enzymes.
Specialty Enzymes Market Dynamics
High Usage in Drugs Manufacturing
The rising need for the specialty enzymes in the pharmaceutical industry to manufacture drugs to treat fatal diseases such as cardiovascular diseases, cancer, age-related pain, asthma, hay fever, and lysosomal storage disorders is the one of the most significant factor driving the growth for this market. The increasing prevalence of such diseases coupled with the growing geriatric population across the globe is also expected to accelerate the overall growth of the market.
The advancement of tools to optimize pharmaceutical production and quality concerns among people is also expected to fuel market growth. Moreover, the multifunctional benefits of specialty enzymes across various applications and technological innovations to reduce the consumption of chemical catalysts also cushions the market’s growth within the forecasted period.
Furthermore, the advancement in enzyme engineering and green chemistry generates profitable opportunities to the market players in the forecast period of 2022 to 2029. Moreover, the factors such as the growing industrialization rate and advanced technologies adopted in the pharmaceutical industry in emerging markets of BRIC nations will further expand the specialty enzymes market's growth rate in the future.
On the other hand, the factors such as the high cost and maintenance issues and legal and ethical issues are expected to obstruct market growth. Moreover, difficulty in keeping the pH and operational temperature of specialty enzymes are the factors that hamper the overall growth of the market. The growing safety concerns due to the risk of contamination is expected to impede the overall growth. Also, the lack of awareness among consumers regarding the benefits of specialty enzymes particularly in developing countries are projected to challenge the specialty enzymes market in the forecast period of 2022-2029.
This specialty enzymes market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the specialty enzymes market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Specialty Enzymes Market
COVID-19 had a negative effect on the healthcare market overall. The specialty enzyme market has also declined during COVID-19 due to economic depreciation, supply chain breakthroughs, and raw material scarcity. However, following the breakdown of COVID-19, the market is expected to recover.
- In January 2021, Advanced Enzyme Technologies Limited has purchased a 51 percent controlling stake in SciTech Specialties Private Limited. SSPL is a company that focuses on animal health, pharmaceuticals, and nutraceuticals. SSPL creates effervescent goods using effervescent products technology.
- On March 2021, Univar Solutions Inc., a global chemical and ingredient distributor and value-added services provider, and Novozymes, the world leader in biological solutions, have announced plans to expand their existing partnership into the homecare, industrial cleaning, and beverages markets in the United States and Canada.
- Recently, industry-leading OPTIMASE portfolio was launched by DuPont Nutrition & Biosciences. Bio-based enzymes are included in this portfolio and will be used to clean medical instruments. The product line is designed to provide high performance while reducing enzyme stabilising ingredients and saving space and money.
Global Specialty Enzymes Market Scope
The specialty enzymes market is segmented on the basis of type, form, source and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Humulin, Oxidase
- Restriction enzymes
On the basis of type, the specialty enzymes market is segmented into acylases, hydratases, humulin oxidase, lyases, restriction enzymes, ligases, polymerases, lipases, amylases, proteases, dehydrogenases, glucouronidse and others.
On the basis of form, the specialty enzymes market is segmented into dry and liquid.
On the basis of source, the specialty enzymes market is segmented into microorganisms, plants and animals.
- Biotechnology Research and Development
On the basis of application, the specialty enzymes market is segmented into pharmaceutical, biotechnology research and development, diagnostic and bio-catalyst.
Specialty Enzymes Market Regional Analysis/Insights
The specialty enzymes market is analyzed and market size insights and trends are provided by country, type, form, source and application as referenced above.
The countries covered in the specialty enzymes market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the specialty enzymes market because of the presence of niche consumer markets and advanced technologies within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in population and growth in disposable income among consumers in emerging markets of China and India in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The specialty enzymes market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for specialty enzymes market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the specialty enzymes market. The data is available for historic period 2010-2020.
Competitive Landscape and Specialty Enzymes Market Share Analysis
The specialty enzymes market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to specialty enzymes market.
Some of the major players operating in the specialty enzymes market are Thermo Fisher Scientific., BBI Solutions., NAGASE & CO., LTD., Advanced Enzyme Technologies., F. Hoffmann-La Roche Ltd, Sanofi, Codexis, Amano Enzyme Inc., BASF SE, DSM, DuPont., AB Enzymes, Novozymes, Chr. Hansen Holding A/S, Soufflet, Shandong Longda Bio-Products Co., Ltd., Specialty Enzymes & Probiotics., Biovet Private Limited., Aum Enzymes, Ultra Bio-Logics Inc., and Advanced Enzyme Technologies among others.