The Specialty Enzymes Market is expected to grow at > 6.9% during 2021-2026, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Specialty Enzymes Market
Specialty Enzymes Market is likely to witness an impressive CAGR of 6.9% during the forecast period. The present surge in the non-hazardous biological catalysts in pharmaceuticals and diagnostics, the advanced development in tools to maximize the pharmaceutical production & quality, and multi-functional advantages of specialty enzymes are driving the growth of the market.
North America is estimated to be the largest-growing market for specialty enzymes during the forecast period. Technological advancements, availability of enzymes for a wide range of applications, development of novel & superior performing products, and global industrialization are driving the region’s market, along with an increase in the usage of enzymes in the region’s pharmaceutical industry. Further, the US is estimated to be the dominant market in the North American region and is at the stage to reach maturity very sooner.
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Market Scope & Market Segmentation
Specialty Enzymes Market Share: By Type
Based on the type, the market is segmented as carbohydrases, proteases, lipases, polymerases & nucleases, and others. The polymerases & nucleases segment is expected to dominate the market during the forecast period, owning to their usage in special applications such as pharmaceuticals, research & biotechnology, diagnostics, and biocatalysts. Also, being the essential parts for all nucleic acid processing including replication, repair, recombination & transcription, makes them support the catalysis of the synthesis of deoxyribonucleic acid (DNA) and ribonucleic acid (RNA) polymers, ushering the segment towards unprecedented growth.
Specialty Enzymes Market Share: By Application Type
Based on the application type, the specialty enzymes market is segmented as pharmaceuticals, research & biotechnology, diagnostics, and biocatalysts. The pharmaceuticals segment dominates the market, owing to the increase in its application in the pharmaceutical industry, mainly for drug manufacture, disease diagnostics, or as a therapy. There has been an increase in the usage of specialty enzymes for therapies such as cancer, cardiovascular diseases, lysosomal storage disorders, and pain and inflammation management, which also acts as a driving factor for the growth of the segment.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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