The European Specialty Enzymes Market size is estimated to grow at a prominent CAGR between 2022 to 2027.
Specialty enzymes are commonly used to manufacture drugs to treat deadly diseases such as cardiovascular diseases, cancer, age-related pain, asthma, hay fever, and lysosomal storage disorders in the pharmaceutical sector. Therefore, the increasing prevalence of chronic disorders and the rising geriatric population are expected to accelerate the specialty enzymes market in emerging European countries like the United Kingdom, Italy, and France. The regional market growth is driven by specific yield optimization and catalytic reaction properties of specialty enzymes.
The specialized enzymes market in the European region is predicted to accelerate due to the multifunctional advantages of specialty enzymes in a variety of applications and technical advancements that decrease the need for chemical catalysts. Also, the usage of specialty enzymes has expanded as technologies to enhance pharmaceutical manufacture have improved, and people's concerns about quality have grown.
Owing to its growing uses, particularly in the processing of light chemicals and pure pharmaceutical drugs, pharmaceutical firms across the region have included these specialist enzymes. In addition, in recent years, there has been a shift in the tendency toward using customized enzymes to reduce dependency on traditional enzymes. As a result, these enzymes will likely penetrate the total specialized enzymes market throughout the projected period.
The growing demand for non-harmful biological catalysts in pharmaceuticals and diagnostics is influencing the market growth. On the other hand, waste reduction and energy saving are the two factors majorly driving the European specialty enzymes market growth. Moreover, the increasing rate of industrialization in emerging regions and the adoption of innovative technologies in the pharmaceutical industry are likely to provide lucrative opportunities for the market participants.
However, legal and ethical issues and a lack of consumer understanding of the benefits of specialty enzymes are expected to impede market growth, particularly in emerging markets. Also, the difficulty in keeping the pH and operational temperature of specialty enzymes is expected to restrain the market growth.
This research report on the European specialty enzymes market has been segmented and sub-segmented into the following categories:
Geographically, the European market recorded a significant share in the global specialty enzymes market over the forecast period. It is anticipated to witness a prominent share during the forecast period. The regional market growth is attributed to well-established healthcare infrastructure, favorable reimbursement policies, and increasing disposable income in emerging countries like the UK, Italy, and France.
Germany accounted for the largest share of the European Specialty Enzymes Market in 2020, and it is expected to record a predominant share during the forecast period. Increasing population, rising healthcare expenditure, and technological advancements in the healthcare sector are propelling the market growth.
Similarly, the UK is more likely to grow significantly in the Specialty Enzymes Market during the forecast period. The market growth is driven by the increasing consumption of meat and meat products, the surge in spending on premium quality products, and consumer preference for natural ingredients used in products.
On the other hand, the emerging countries in the region, such as Italy, France, and Spain, are projected to witness a promising share in the Specialty Enzymes Market in the coming years owing to the increasing prevalence of chronic diseases, rising adoption of genetic testing for these diseases and growing focus of pharmaceutical industries on the development of polymerases and nucleases enzymes.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the Europe Specialty Enzymes Market profiled in this report are Bbi Enzymes Ltd., Basf, Codexis Inc., Nagase & Co. Ltd., Life Technologies, Advanced Enzyme Technology Ltd. Affymetrix Inc., Advanced Enzyme Technology Ltd., Amano Enzyme Inc., Roche Holding Ag., and Sanofi S.A.
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