Enzymes are characterized as highly efficient and selective biocatalysts present in living organisms. The biological catalysts have the potential to expedite the speed of a chemical change while using minimal energy. Besides, they remain unchanged after the reaction is complete.
Moreover, enzymes are the preferred markers in numerous disease states, including myocardial infarction, pancreatitis, cancer, jaundice, neurodegenerative disorders, and others. They also provide comprehensive insights into chronic diseases’ process through the prognosis, diagnosis, as well as assessment of response therapy. Hence, this factor plays a pivotal role in fueling the demand for medical enzymes across various healthcare applications.
As per Inkwood Research’s analysis, the global medical enzymes market is predicted to grow with a CAGR of 6.56% during the forecast period of 2022 to 2030. The market’s growth is further attributed to the widening applications of enzymes in the medical industry as well as the rise in investments in healthcare research and facilities.
Chronic Diseases & Medical Enzymes: An Application-Based Overview
According to the World Health Organization (WHO), chronic diseases are among the leading causes of death globally. For instance, ischemic heart disease was responsible for approximately 8.89 million deaths in 2019, with cardiovascular diseases resulting in nearly 17.9 million annual deaths.
In this regard, therapeutic enzymes are primarily used for treating cardiovascular diseases and coagulation disorders. This factor also plays an essential role in positioning disease treatment as the fastest-growing and dominating application in the global medical enzymes market.
Furthermore, medical enzymes are also used for cancer therapy, in addition to the treatment of non-deficiency diseases. For example, lysozyme has depicted significant activity against human immunodeficiency virus (HIV), thus opening possibilities for treating the auto-immune infection. In addition, owing to their capacity to disrupt bacterial cell walls, lysozymes are considered endogenous antibiotics essential for defense against microbes. As a result, the lysozymes segment under the hydrolases enzyme type category is set to grow with the highest CAGR of 6.95% by 2030.
Top Trends Shaping the Global Market Dynamics
Some of the key trends set to shape the global market include the increasing use of medical enzymes in the development of therapeutics as well as technological advancements. Moreover, the increased demand for medical enzymes in the pharmaceutical sector plays an integral role, as well.
The rising levels of awareness among consumers in terms of adopting balanced diets and protein supplements have further contributed to the growth of the medical enzymes market, especially in key regions such as North America and the Asia-Pacific.
North America | Revenue Share – 37.23% by 2030
- Leading companies developing advanced products for enzymes, in addition to distribution agreements and partnerships between players, is vital for the North America medical enzymes market For example, Codexis, headquartered in the United States, and Nestle Health Science collaborated to discover new enzyme therapies for treating gastrointestinal disorders.
- As per the American Cancer Society Journal, in 2022, the United States is estimated to diagnose 1.9 million cancer cases, with around 600,000 deaths associated with the disease. Since cancer is the second-leading cause of death in the United States, the country’s demand for medical enzymes, primarily for treating the condition, is expected to rise exponentially.
- Furthermore, the United States is expected to capture the highest market share of 38% by 2030. The country’s market growth is mainly accredited to technological innovations for obtaining enzymes and consumers’ growing concerns about health and personal care.
Asia-Pacific | Fastest-Growing Region with a 7.49% CAGR
- Poor dietary habits of the population in developing countries like India, China, and Japan are key drivers fueling the growth of the Asia-Pacific medical enzymes market. Likewise, weight and eating concerns also facilitate the demand for digestive health supplements, thus propelling the growth of the digestive enzyme segment under the enzyme type category.
- Health coverage schemes, as well as other health reforms, are expected to stimulate market growth in the region. For instance, the flagship initiative of the Government of India, Ayushman Bharat, aims at strengthening the country’s healthcare system, thus augmenting the market’s growth.
- Moreover, as per the India Brand Equity Foundation (IBEF), the healthcare market in India is expected to reach $372 billion by 2022, supplemented by the rise in health awareness, the prevalence of lifestyle diseases, and the increasing access to insurance.
In Conclusion | Competitive Analysis & Players’ Opportunities
With digitalization as well as advanced engineering techniques used in the development of medical enzymes, the competition within the global medical enzymes market is increasing. Moreover, key players such as Sanofi, DSM, and Novus, compete on the basis of developing enzymes that pass wide-ranging standards. This factor is also essential for overcoming the limitation and stringent regulations associated with medical enzymes.
For instance, with the In Vitro Diagnostic Regulation in Europe, companies’ stringent regulations will accelerate consolidation since relatively smaller players may struggle to meet the standards. Aligning with this, BBI Solutions, a United Kingdom-based company, is compliant with the required global standards, thus paving the way for lucrative market opportunities.
FAQs:
Which is the dominating enzyme type in the global medical enzymes market?
Hydrolase is the dominating enzyme type in the global medical enzymes market.
Why are thrombolytic enzymes gaining increased traction in the market?
Since thrombolytic enzymes have the capability to dissolve blood clots while preventing any adverse effects, their use as a potential thrombolytic therapy has gained significant interest.
