Specialty enzymes are proteins which are used as biocatalysts in pharmaceuticals, diagnostic solutions, and in research laboratories. Specialty enzymes are derived from plant, micro-organisms, and animals to be used extensively in food, feed, detergent, laundry, tanning, textiles, pharmaceuticals, cosmetics, and fine-chemical industries. Ubiquitous and excellent catalyst activity displayed by specialty enzymes is a major reason for its high usage in pharmaceutical and biotechnology industries. Specialty enzymes also improve manufacturing efficiencies and help in manufacture of low-cost medicines and drugs.
Rising demand for specialty enzymes from the pharmaceutical industry, to be used in various diagnostic tests for cancer, diabetes, and cardiac disorders is a key factor driving growth of the global specialty enzymes market. In addition, usage of specialty enzymes in fine chemicals as biocatalyst for rapid reactions is a major factor boosting growth of the global specialty enzymes market over forecast period.
However, high cost of diagnostics solutions for chronic diseases in developing economies is a key factor restraining growth of the global specialty enzymes market. Additionally, lack of awareness about diagnostic tests in emerging economies is a major factor expected to hamper growth of the global specialty enzymes market over the forecast period.
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The global specialty enzymes market report has been segmented on the basis of type, application, source, and region. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Currently, the market in North America dominates the global specialty enzymes market in revenue terms, owing to presence of prominent players coupled with increasing investment in R&D of biotechnology based industries, and favorable government regulations in the region. The market in Asia Pacific is projected to have fastest growth in terms of revenue, owing to presence of a large patient pool, and rise in government initiatives for improvement of healthcare facilities in the region. The markets in Europe, Latin America, and Middle East & Africa are expected to witness steady growth over the forecast period.
Prominent players in the global specialty enzymes market include Novozymes, Amano Enzyme Inc., Codexis, Advanced Enzymes, Thermo Fisher Scientific Inc., BBI Solutions., Roche Diagnostics International Ltd., Biocatalysts, and Amicogen.
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