Enzymes Global Market Report 2021: COVID-19 Growth, Impacts and Changes to 2030 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Enzymes Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The global enzymes market is expected to grow from $7.81 billion in 2020 to $8.9 billion in 2021 at a compound annual growth rate (CAGR) of 14%. The market is expected to reach $15.25 billion in 2025 at a CAGR of 14%.
Major players in the enzymes market are Sanofi, AbbVie Inc., Alexion Pharmaceuticals Inc, Horizon Pharma, Allergan plc, Pfizer Inc., Vivus, Digestive Care, Leadiant Biosciences, and Roche Holdings AG
The enzymes market consists of sales of enzymes to treat diseases. An enzyme is a protein or RNA formed by living cells that are extremely specific to its substrates and highly catalytic. Enzymes constitute a very significant class of biological macromolecular catalysts.
Enzymes that are used in medical applications in their isolated or conjugated form with other drugs or therapies are known as therapeutic enzymes. Therapeutic enzymes are used in the treatment of various diseases including cancer, inflammatory disorders, cardiovascular diseases, and pain management.
The enzymes market covered in this report is segmented by product type into asparginase; lipase; protease; nattokinase; chitinase; serratiopeptidase; collagenase; ligase; others and by application into leukemia; stomach disorders; antitumor; skin ulcers; gaucher disease; fabry disease; others.
The COVID-19 outbreak hindered the growth of the enzymes market. During the COVID-19 pandemic, most companies involved in the manufacture of enzymes are currently focusing on manufacturing sanitizers to counter COVID-19. This led to a significant decline in global enzyme consumption, globally.
For instance, in April 2020, BASF, the largest manufacturer of enzymes, started manufacturing hand sanitizers in New York and New Jersey to help the battle against COVID-19. Therefore, the COVID-19 outbreak limits the growth of the enzymes market.
The development of new approaches to treat cancer using enzymes is a key trend gaining popularity in the enzymes market. Major universities and companies are investing in researches focusing on evolving new solutions in enzyme therapies for cancer treatment.
For example, in August 2018, Kyn Therapeutics, a US-based company that focuses on improving outcomes for cancer patients along with Cancer Prevention and Research Institute of Texas and the American Cancer Society funded the research, introducing a new approach to cancer care using enzyme therapy to boost the immune system and fight back. The enzyme, PEG-KYNase, does not destroy cancer cells specifically but rather enables the immune system itself to remove unwanted cells. PEG-KYNase is designed to degrade metabolite produced by numerous tumors known as kynurenine, which suppresses the immune system.
In May 2020, AbbVie Inc., an America based biopharmaceutical company acquired Allergan plc for $63 billion. This acquisition significantly expands and diversifies AbbVie's revenue base and complements existing leadership positions in Immunology, with Humira and recently launched Skyrizi and Rinvoq, and Hematologic Oncology, with Imbruvica and Venclexta. Allergan plc, an Ireland-based pharmaceutical company engaged in the research, development, and manufacture of pharmaceutical and enzymes-based therapeutic products.
The growing prevalence of cancer requiring drug-metabolising enzymes (DMEs) for chemotherapy is expected to drive the growth of the enzymes market in the coming years. The activation of enzymes in a human body help destroy the cancer cells and breaks down the tumor.
Key Topics Covered:
1. Executive Summary
2. Enzymes Market Characteristics
3. Enzymes Market Trends And Strategies
4. Impact Of COVID-19 On Enzymes
5. Enzymes Market Size And Growth
5.1. Global Enzymes Historic Market, 2015-2020, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Enzymes Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Enzymes Market Segmentation
6.1. Global Enzymes Market, Segmentation By Product Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Enzymes Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Stomach Disorders
- Skin Ulcers
- Gaucher Disease
- Fabry Disease
6.3. Global Enzymes Market, Segmentation By End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Drug Manufacturers
- Private Clinics
- Research Laboratories
7. Enzymes Market Regional And Country Analysis
7.1. Global Enzymes Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Enzymes Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- AbbVie Inc.
- Alexion Pharmaceuticals Inc
- Horizon Pharma
- Allergan plc
- Pfizer Inc.
- Digestive Care
- Leadiant Biosciences
- Roche Holdings AG
- Codexis Inc
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