Allied Market Research announces an upcoming report, titled, “Specialty Enzymes Market by Types (Acylases, Hydratases, Humulin, Oxidase, Lyases, Restriction enzymes, Ligases, Polymerases, Lipases, Amylases, Proteases, Dehydrogenases, Glucouronidse) and By Source (Microorganisms, Plants, Animals) – Global Opportunity Analysis and Industry Forecast, 2014 – 2020.” The report states that the global specialty enzymes market is expected to grow at the CAGR of 9.4% from 2015-2020.
The growing applications of enzymes in therapies for chronic diseases, rising demand for effective therapeutics and growing incidences of digestive enzyme disorders are some of the key factors that drive the growth of the global specialty enzymes market for pharmaceuticals, biotechnology research and diagnostics. Factors restraining the market growth are restriction concerning the chemical properties and safety issues arising due to the contamination of enzymes.
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The global specialty enzymes for pharmaceuticals, biotechnology R&D and diagnostics market is classified into application, source, type and geography. Based on Applications, the market is further divided into biotechnology, pharmaceuticals, diagnostics, and R&D. By Source, the market is categorized into three types, namely plants and animals, plants and microorganisms. The microorganisms segment accounted for dominant market share in 2014 owing to its easy availability, cost-effectiveness and feasibility for large scale production. Microorganisms are easier to produce and this way, the quantity of enzyme production can be properly measured and assessed. Based on product type, the report fragments the market into acylases, hydratases, humulin, oxidase, lyases, restriction enzymes, ligases, polymerases, lipases, amylases, proteases, dehydrogenases, glucuronidase and others. Acylases contributed to a dominant share in 2014. This was due to its wide and varied application in pharmaceutical drug formulations.
Based on region, the specialty enzyme market is segmented into North America, Europe, Asia-Pacific and LAMEA. Europe and North America collectively contributed to around 2/3rd of the global pharmaceutical specialty enzymes market in 2014, and are expected to maintain their dominance throughout the analysis period. Increase in geriatric population in the dominions leads to high demand for therapeutic enzymes. Moreover, increased expenditure in healthcare has led to adoption of advanced enzymes such as immobilized enzymes. This, in turn, has made these regions dominate the global specialty enzymes market. Nevertheless, Asia-Pacific region exhibits the highest growth potential in future. This is due to rising per capita healthcare expenditure, increasing awareness about enzyme therapy and rapidly growing pharmaceutical manufacturing base.
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The report also profiles key players involved in the global rehabilitation equipment market, such as Novozymes, Codexis, Inc., F. Hoffmann-La Roche AG, Life technologies, Advance enzyme Technologies Ltd, DuPont, BASF, and Affymetrix, Inc. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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