Specialty Enzymes Market To Generate $8,921.8 Million Revenue by 2030

The specialty enzymes market size is expected to advance at a CAGR of 7.6% during 2023–2030, to reach USD 8,921.8 million by 2030. This can be ascribed to the rising prevalence of digestive disorders such as indigestion and inflammations, the surging investments in R&D activities in this field, the increasing number of mergers and acquisitions among industry players, and the wide range of applications across industries and consistent developments in these enzymes.

Moreover, the acceptance and incorporation of specialty enzymes in the pharmaceutical industry have witnessed tremendous growth with wider implementation and augmented usage in a variety of applications in biotechnology, biofuel, pharma, food supplements, and others. These enzymes are also used to make drugs that aid in the instantaneous and efficient relief of chronic health problems.

Rising Prevalence of Chronic Diseases

The rising cases of chronic diseases and the growing elderly population across the world are fueling the demand for drugs based on specialty enzymes. For instance, cancer, being a leading cause of death worldwide, accounted for around 10 million life losses in 2020. Also, CVD accounted for 32% of all global deaths in 2019. Of these deaths, heart attack and stroke were the major demise reasons. Similarly, as per the survey conducted in the U.S., in 2022, almost 60–70 million people were suffering from gastrointestinal (GI) diseases, which create serious daily life disruptions and also account for a large number of deaths in the Americas.

Therefore, there is a high demand for enzymes that are used as biocatalysts in the diagnosis and treatment of specific illnesses. For instance, protease enzyme is used to treat digestive disorders and is easily available. It is also used by a person for easy digestion of protein-rich diets.

Microorganisms Category To Witness Significant Growth

Based on source, the microorganisms category is expected to grow at a CAGR of 9% during the forecast period. This can be because specialty enzymes are highly sourced from microorganisms and the surging use of microorganism-derived enzymes, such as protease and amylases, in the pharmaceutical, biotechnology, fermentation, chemical, agricultural, and food industries.

APAC Market To Witness Fastest Growth

The APAC market is expected to witness the fastest growth during the forecast period. This can be because the region is becoming an essential area of the pharma ecosystem at the global level with increased government emphasis on the healthcare and pharma sectors and the high participation from industry players, in the region.

Further, the momentum in the regional market is attributed to the regulatory reforms in China, the opening of capital markets to foreign investors, the establishment of bio clusters, the rising R&D expenditure in the biopharma ecosystem, the increasing cases of chronic diseases due to lifestyle changes and unhealthy consumption, and the surging shift from generic drugs to biotech-based. For instance, in 2020, 344 new molecular entities were submitted for clinical trials.

The major specialty enzymes market players are Amano Enzyme Europe Limited, BASF SE, BBI Solutions, Biocatalysts Ltd., Codexis Inc., DuPont de Nemours Inc., F. Hoffmann-La Roche Ltd., Koninklijke DSM N.V., Novozymes, and Specialty Enzymes & Probiotics.