North America Leads Specialty Enzymes Market Amid Rising Demand for Diagnostics and Therapeutics

/EIN News/ -- Delray Beach, FL, Feb. 04, 2025 (GLOBE NEWSWIRE) -- According to MarketsandMarkets, the global specialty enzymes market is projected to grow significantly, with its size estimated to reach $6.1 billion in 2024 and further expanding to $9.2 billion by 2029, recording a compound annual growth rate (CAGR) of 8.5%. This growth is fueled by the increasing demand for effective biocatalysts in the pharmaceutical and diagnostics industries, advancements in biotechnology, and rising investment in healthcare and biopharmaceuticals.

Key Growth Drivers

• Innovations in Biotechnology and Genetic Engineering

The development of more efficient and specific enzymes through biotechnology and genetic engineering has broadened their application scope. These advancements support diverse industries, including pharmaceuticals, diagnostics, and food production.

• Rising Investment in Healthcare and Biopharmaceuticals

As global healthcare investment continues to grow, the demand for specialty enzymes in drug formulation and diagnostics is increasing. Specialty enzymes play a crucial role in developing new therapies and enhancing drug formulations.

• Health-Conscious Consumer Trends

The growing trend toward health and wellness is driving the demand for specialty enzymes in nutraceuticals and functional foods. These enzymes contribute to improved digestion and nutrient absorption, meeting consumer demands for healthier dietary options.

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Market Opportunities and Key Developments

The specialty enzymes industry offers lucrative business opportunities for companies operating in this space. Notable recent developments include:

• New England Biolabs’ Innovation: In February 2024, New England Biolabs (US) launched the NEBNext Enzymatic 5hmC-seq Kit (E5hmC-seq), an enzyme-based method for detecting 5hmC sites. This product offers high yields and quality data, strengthening the company’s position in the enzyme market and supporting epigenetic research.
• Sekisui Diagnostics’ Expansion: Sekisui Diagnostics (US) announced a $16.4 million investment to expand cGMP microbial capacity at its Maidstone, Kent site. This expansion aims to meet the growing demand for specialty enzymes in diagnostics and therapeutics.

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Supportive Government Policies and Funding

Public funding and government initiatives play a crucial role in driving growth and innovation in the specialty enzymes market:

• EU’s Horizon Europe Program: With a budget of $103.6 billion for 2021-2027, the program supports research and innovation in biotechnology.
• National Institutes of Health (NIH) Funding: In the United States, the NIH allocated over $42.0 billion for biomedical research in 2022, with part of the funding directed toward biotechnology research.
• India’s BIRAC Initiative: The Biotechnology Industry Research Assistance Council (BIRAC) provides funding and support for biotech startups and research institutions through initiatives such as the Biotechnology Ignition Grant (BIG) scheme. In July 2020, BIRAC allocated Rs. 50 crores (approximately USD 6.7 million) to support around 100 startups.

Key Market Segments

Protease Enzymes: The Fastest Growing Segment

Protease enzymes are experiencing rapid growth due to their critical role in drug formulation and development. They facilitate the synthesis of therapeutic proteins and peptides, essential for treating diseases such as cancer, diabetes, and autoimmune disorders. The use of proteases in insulin production highlights their importance in biotechnology.

Animal-Derived Enzymes: A Significant Market Share

Animal-derived enzymes are preferred for their high specificity and efficiency in catalyzing biochemical reactions. Pancreatic enzymes like trypsin and chymotrypsin are extensively used in drug formulation. In clinical diagnostics, enzymes like lactase and thrombin are essential for diagnostic tests and surgical procedures, respectively.

Regional Insights: North America Leading the Market

North America is expected to dominate the specialty enzymes market during the forecast period due to several factors:

• Robust Pharmaceutical and Biotechnology Industry: Significant investments in R&D foster innovation and the development of advanced enzyme-based solutions.
• Healthcare Infrastructure and Diagnostic Demand: The high prevalence of chronic diseases such as cancer and diabetes drives the demand for advanced diagnostic tools.
• Favorable Regulatory Environment: Agencies like the FDA ensure the safety and efficacy of enzyme-based products, facilitating their adoption.

The global specialty enzymes market is poised for substantial growth, driven by technological advancements, rising healthcare investments, and supportive government initiatives. Companies that continue to innovate and invest in research and development will be well-positioned to capitalize on the expanding market opportunities. As consumer health trends and industrial applications evolve, specialty enzymes will remain a vital component of various sectors, from pharmaceuticals to functional foods.

Top Specialty Enzymes Companies

BRAIN Biotech AG (Germany)  Novozymes A/S (Denmark)  Codexis, Inc. (US)  Sanofi (France)  Merck - The Vibrant Science & Technology Company  Dyadic International Inc (US)  Advanced Enzyme Technologies (India)  Amano Enzyme Inc (Japan)  F. Hoffmann-La Roche Ltd (Switzerland)  New England Biolabs (US)  BBI Solutions (UK)  Creative Enzymes (US)  Bioseutica (Netherland)  SEKISUI Diagnostics (US).

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