According to Vision Research Reports, the global medical enzyme technology market size was valued at US$ 4.37 billion in 2021 and it is expected to hit around US$ 7.38 billion by 2030. It is projected to expand at a CAGR of 6% during the forecast period 2022-2030.
According to Vision Research Reports, the global medical enzyme technology market size was valued at US$ 4.37 billion in 2021 and it is expected to hit around US$ 7.38 billion by 2030. It is projected to expand at a CAGR of 6% during the forecast period 2022-2030.
Enzymes can be defined as complex proteins that catalyze a specific reaction or a chemical change in all parts of the body. The medical applications of enzymes have been in development, owing to their innate availability and magnitude of rewards offered in disease treatment and as diagnostic tools.
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The rise in demand for medical enzyme technology can be attributed to the growing applications of enzymes for disease treatment and as diagnostic tools. In addition, the rising prevalence of cancer, increasing demand for cost effective treatment modes, and growing awareness among the population concerning the early diagnosis of disease contribute to the growth of the medical enzyme technology market. North America dominated the global medical enzyme technology market in 2019. The trend is anticipated to continue during the forecast period. The U.S. was the major revenue generating country in the region. Robust expansion of the market in North America can be attributed to increase in research & development and focus on the development of enzyme medication for the treatment of various chronic diseases.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 4.37 billion |
| Revenue Forecast by 2030 | USD 7.38 billion |
| Growth rate from 2022 to 2030 | CAGR of 6% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Enzyme Type, Application, Region |
| Companies Covered | Thermo Fisher Scientific Inc., Merck KGaA, Genzyme Corporation (Sanofi), Promega Corporation, Asahi Kasei Corporation, Takeda Pharmaceutical Company Limited, Cytiva (Danaher), Agilent Technologies, Inc., Sun Pharmaceutical Industries Ltd., Amano Enzyme Inc., and Novozymes A/S |
Increase in biotech & diagnostic applications
Medical enzymes find applications in pharmaceutical and diagnostics industries. These are extensively used as therapeutic agents in the treatment of diseases associated with enzyme deficiency, and for performing diagnostic procedures such as ELISA. Enzymes are employed in various diagnostic and biotechnological applications such as DNA manipulation and sequencing. Additionally, the declining cost of DNA manipulation and sequencing is anticipated to act as a demand driver, leading to rise in usage of enzymes in research & biotechnology and diagnostic applications. Moreover, enzymes have applications in clinical diagnosis for the quantitative determination of health disorders, primarily diabetes. This is expected to contribute to the growth of the medical enzyme technology market during the forecast period.
Hydrolases Enzymes Dominated Global Market
In terms of enzyme type, the hydrolases segment is projected to account for a major share of the global medical enzyme technology market during the forecast period. Hydrolases include those enzymes, which have the ability to catalyze the cleavage of the substrate and in addition of water molecule to the resulting molecules. These enzymes aid in treatment of various diseases, owing to high stability, catalytic efficiency, commercial availability, and broad substrate specificity in a wide spectrum of bio-catalyzed processes.
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Disease Treatment to be Key Application Area
Based on application, the disease treatment segment is anticipated to account for a major share of the global medical enzyme technology market during the forecast period. It is likely to maintain its dominance during the forecast period. Increasing application of medical enzyme technology in the development of therapeutics is driving the segment. The enzyme technology is being employed in the treatment of major diseases such as cancer, metabolic diseases, and lysosomal diseases.
Market Dynamics
Drivers
- Applications of Enzymes in Diagnosis and Disease Treatment
- Significant Increase in Research and Development Activities
Restraints
- Handling and Safety Issues Related to Enzymes
Opportunities
- Rising Production of Biopharmaceutical Products
Future Trends
- Advancements in Enzyme Engineering
Prominent Regions
The global medical enzyme technology market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global medical enzyme technology market in 2019. The expansion of the medical enzyme technology market in the region can be attributed to the rise in development of newer medicines based on enzymes and investment in research & development. The U.S. was a major country contributing to the expansion of the medical enzyme technology market in the region. The expansion of the market in the region can be primarily attributed to the growth of the market in the U.S. The growth of the market can be attributed to various factors, including strategic partnerships among market players to enhance their presence in the medical enzyme technology market. Additionally, the strong presence of market players in the region and increasing investments in research & development fuel the medical enzyme technology market in the region.
The medical enzyme technology market in Asia Pacific is estimated to expand at a significant CAGR from 2020 to 2030 driven by developing countries such as China and India. The expansion of the market in the region can be attributed to the rise in the number of contract research organizations offering drug discovery services. Additionally, increasing focus of big pharmaceutical companies on outsourcing drug discovery to countries in Asia, owing to the large target population and presence of skilled technicians further propels the medical enzyme technology market in the region.
Focus on Strategic Acquisitions and Partnerships by Key Players to Propel Global Market
The global medical enzyme technology market is fragmented in terms of number of players. Key players operating in the global medical enzyme technology market are Thermo Fisher Scientific Inc., Merck KGaA, Genzyme Corporation (Sanofi), Promega Corporation, Asahi Kasei Corporation, Takeda Pharmaceutical Company Limited, Cytiva (Danaher), Agilent Technologies, Inc., Sun Pharmaceutical Industries Ltd., Amano Enzyme Inc., and Novozymes A/S.
Market Segmentation
By Enzyme Type
- Digestive Enzymes
- L-Asparginase
- Lactase
- Others
- Thrombolytic Enzymes
- Streptokinase
- Urokinase
- Others
- Hydrolases
- Hyaluronidase
- Lysozyme
- Others
- Others
By Application
- Disease Treatment
- Cancer (Chemotherapy)
- Metabolic Disorders
- Others
- Diagnostic Tools
- Renal Disease
- Cancer
- Others
- Biomedical Research
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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