The specialty enzymes market is poised for growth, driven by technological advancements, expanding applications, and rising health consciousness. However, companies need to navigate regulatory challenges and production costs to capitalize on the market opportunities effectively.
Specialty Enzymes Market Size and Growth
- Current
Market Size: The specialty enzymes market has been experiencing steady
growth, driven by increasing demand across various industries such as
pharmaceuticals, biotechnology, food and beverages, and diagnostics.
- Projected
Growth: According to MarketsandMarkets, the global specialty
enzymes market size is estimated to be valued at USD 6.1 billion
in 2024 and is projected to reach USD 9.2 billion by 2029, recording a
CAGR of 8.5%.
Genetic Engineering and Sustainability: Enzymes Leading
the Way
Advancements in enzyme engineering have enabled the
discovery of new enzymes from natural sources, ensuring their safety and
efficacy in various applications. This includes their use in producing
specialty pharmaceuticals and in biocatalytic processes. A recent study by the
University of Notre Dame researchers in January 2022 emphasized biocatalytic
depolymerization as an efficient and sustainable method for plastic treatment,
addressing environmental concerns and enhancing recycling efforts. Additionally,
the Manchester Institute of Biotechnology (MIB) has developed an enzyme
engineering platform to improve plastic degradation using directed evolution
techniques. These advancements in genetic engineering and enzymes
engineering for sustainable practices highlight the specialty enzymes market’s
growth potential, especially in addressing environmental issues and promoting
eco-friendly solutions.
Why Are Animal-Sourced Enzymes Gaining Popularity in the Specialty
Enzymes Industry?
Animal-derived enzymes are often favored for their high
specificity and efficiency in catalyzing biochemical reactions, which are
crucial for various specialized processes. Pancreatic enzymes like trypsin and
chymotrypsin are widely used in drug formulation and the production of
biologics. These enzymes facilitate the precise cleavage of peptide bonds,
which is vital for the development and manufacturing of therapeutic proteins
and peptides. Their specificity and activity levels make them indispensable in
pharmaceutical applications, significantly contributing to their market share.
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In addition, animal-derived enzymes are essential in
clinical diagnostics and the food industry. For example, rennet, obtained from
calves’ stomachs, is used in the coagulation process of cheese production. In
clinical settings, enzymes like lactase, sourced from animals, are used in
diagnostic kits to test for lactose intolerance, demonstrating their
versatility in both food processing and medical diagnostics. Moreover,
thrombin, derived from bovine sources, plays a crucial role in surgical
procedures by promoting blood clotting and is used in topical hemostatic agents
to control bleeding during surgeries. The high efficacy and reliability of
thrombin in medical applications underscore the importance of animal-derived
enzymes in the specialty enzymes industry.
Specialty
Enzymes Market Growth Drivers
- Pharmaceutical
Industry Demand: Specialty enzymes are extensively used in
pharmaceutical applications for drug formulation and biocatalysis,
boosting market demand.
- Advancements
in Biotechnology: Innovations in enzyme engineering and biotechnology
are enhancing enzyme efficiency and expanding their application range.
- Food
and Beverage Industry: Enzymes play a crucial role in improving food
quality, processing, and shelf life, increasing their demand in this
sector.
- Rising
Health Awareness: Growing consumer preference for natural and organic
products is driving the demand for enzymes in nutraceuticals and dietary
supplements.
North
America Specialty Enzymes Set to Lead the Market
North America holds the largest specialty enzymes
market share in the specialty enzymes sector, driven by several key
factors. The region boasts a strong pharmaceutical and biotechnology industry,
supported by substantial investments in research and development. This
investment climate encourages innovation, resulting in the creation of advanced
enzyme-based solutions. Companies like Codexis, Inc. (US) lead the way in
enzyme engineering, consistently developing new enzymes for pharmaceutical and
industrial uses.
Additionally, North America’s well-established healthcare
infrastructure and high demand for diagnostic tools contribute to market
growth. Specialty enzymes play a vital role in various diagnostic applications,
such as ELISA (Enzyme-Linked Immunosorbent Assay) tests, which are extensively
used in medical diagnostics. The rising prevalence of chronic diseases,
including cancer and diabetes, in North America further fuels the demand for
these advanced diagnostic tools, boosting the specialty enzymes market.
2024's Game-Changing Innovations
in Specialty Enzymes: Recent Advances
- In
March 2024, Biocatalysts, part of the BRAIN Biotech Group, enhanced its
production capacity by adding a large-scale freeze-drying facility at its
Cardiff site. This new facility would support the customization and
precise formulation of enzymes for the food, beverage, and life sciences
industries. By complying with kosher, halal, ISO9001:2015, and FSSC22000
standards, the facility ensured high-quality and flexible enzyme
production.
- In
March 2024, Merck invested over USD 324.68 million in a new bioprocessing
production center in Daejeon, South Korea, marking its largest life
science investment in the Asia Pacific. This expansion, expected to create
around 300 jobs by 2028, underscores Merck’s commitment to enhancing its
capacity in this rapidly growing region.
- In
March 2024, Sanofi India Limited (SIL) approved an agreement with Emcure
Pharmaceuticals to exclusively distribute and promote SIL’s Cardiovascular
products in India. While SIL retains ownership, import, and manufacturing,
Emcure would enhance engagement with healthcare professionals and broaden
the reach, benefiting patients nationwide and strengthening Sanofi’s
market presence.
Top
Specialty Enzymes Companies
- BRAIN
Biotech AG (Germany)
- Novozymes
A/S (Denmark)
- Codexis,
Inc. (US)
- Sanofi
(France)
- Merck
KGaA (Germany)
- 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)
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