The global specialty enzymes market is projected to witness a compound annual growth rate of 9.02% during the forecast period to reach a total market size of US$4.044 billion by 2023, increasing from US$2.409 billion in 2017.Rising investments in R&D by global pharmaceutical industry is boosting the growth of global specialty enzymes market. The rising application of speciality enzymes for various therapies for diseases such as, cancer, pain and inflammations management etc., product innovations on account of advancements in enzyme engineering and green chemistry are the major factors expected to contribute to the growth of the market. Geographically, North America accounts for a significant market share owing to higher demand in this region due to presence of various R & D facilities, and advanced technologies in the region. However, demand for specialty enzymes is expected to be hampered by need for specific storage condition requirements (pH and temperature), and legal and ethical issues concerning the specialty enzymes.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Speciality Enzymes Market value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Sanofi, BASF SE, Thermo Fisher Scientific Inc. and Amano Enzyme Inc. among others.
The global speciality enzymes market has been analysed through following segments:
Research & Biotechnology
Middle East and Africa