Healthcare Specialty Enzymes Global Market Opportunities And Strategies To 2031

The global healthcare specialty enzymes market reached a value of nearly $2,198.63 million in 2021, having grown at a compound annual growth rate (CAGR) of 2.84% since 2016. The market is expected to grow from $2,198.63 million in 2021 to $3,003.00 million in 2026 at a rate of 6.43%. The market is then expected to grow at a CAGR of 7.63% from 2026 and reach $4,338.00 million in 2031.

Growth in the historic period resulted from a rise in demand for non-harmful biological catalyst, increasing prevalence of chronic diseases, an increase in cardiovascular diseases (CVDs), growing government initiatives, a rapid growth in aging population and an increase in investments. Factors that negatively affected growth in the historic period were low healthcare access and regulatory challenges.

Going forward, rising use of enzymes in DNA sequencing and manipulation, aging population, advancement in enzyme engineering, an increase in diabetes cases, a rise in healthcare expenditure and sedentary lifestyles will drive the growth. Factors that could hinder the growth of the healthcare specialty enzymes market in the future include safety concerns, a lack of skilled/trained molecular biologists and insufficient and outdated health systems.

The healthcare specialty enzymes market is segmented by type into carbohydrases, proteases, lipases, polymerases and nucleases, oxidase and hydratases and other types. The carbohydrases market was the largest segment of the healthcare specialty enzymes market segmented by type, accounting for 24.16% of the total in 2021. Going forward, the polymerases and nucleases segment is expected to be the fastest growing segment in the healthcare specialty enzymes market segmented by type, at a CAGR of 7.24% during 2021-2026.

The healthcare specialty enzymes market is segmented by source into microorganisms, animals and plants. The microorganism’s market was the largest segment of the healthcare specialty enzymes market segmented by source, accounting for 55.02% of the total in 2021. Going forward, the microorganism’s segment is expected to be the fastest growing segment in the healthcare specialty enzymes market segmented by source, at a CAGR of 6.63% during 2021-2026.

The healthcare specialty enzymes market is also segmented by application into pharmaceuticals, research and biotechnology, diagnostics and biocatalysts. The pharmaceuticals market was the largest segment of the healthcare specialty enzymes market segmented by application, accounting for 55.50% of the total in 2021. Going forward, pharmaceuticals segment is expected to be the fastest growing segment in the healthcare specialty enzymes market segmented by application, at a CAGR of 6.72% during 2021-2026.

North America was the largest region in the healthcare specialty enzymes market, accounting for 39.75% of the total in 2021. It was followed by Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the healthcare specialty enzymes market will be Asia Pacific and North America where growth will be at CAGRs of 7.12% and 6.62% respectively. These will be followed by Western Europe and South America where the markets are expected to grow at CAGRs of 6.28% and 6.08% respectively.

The global healthcare specialty enzymes market is fragmented, with a large number of small players. The top ten competitors in the market made up to 28.35% of the total market in 2021. Companies in the market majorly focus on expanding their businesses and undertaking strategies, such as mergers and acquisitions, expansions, and novel product innovations. Partnership is also preferred by companies, in order to strengthen their market presence and develop innovative products together. F. Hoffmann-La Roche AG was the largest competitor with 17.38% share of the market, followed by Merck Millipore with 5.46%, Thermo Fisher Scientific Inc. (Affymetrix, Inc.) with 1.63%, Codexis, Inc. with 1.45%, Sekisui Diagnostics with 0.52%, Amicogen with 0.52%, Biocatalysts Ltd with 0.49%, Advanced Enzymes with 0.36%, New England Biolabs with 0.31% and Amano Enzyme Inc. with 0.24%.

The top opportunities in the healthcare specialty enzymes market segmented by type will arise in the polymerases and nucleases segment, which will gain $211.86 million of global annual sales by 2026. The top opportunities in the healthcare specialty enzymes market segmented by source will arise in the microorganisms segment, which will gain $457.54 million of global annual sales by 2026. The top opportunities in the healthcare specialty enzymes market segmented by application will arise in the pharmaceuticals segment, which will gain $468.74 million of global annual sales by 2026. The healthcare specialty enzymes market size will gain the most in the USA at $309.94 million.

Market-trend-based strategies for the healthcare specialty enzymes market include technological advancements in the biotechnology sector, investments in research and biotechnology sector, new product launches, advancement in enzyme engineering, partnerships, collaborations, and agreements, integration of machine learning and artificial intelligence and increasing shift towards enzyme-based diagnostic biosensors.

Player-adopted strategies in the healthcare specialty enzymes market include investing in strengthening product portfolio by launching new products, expanding business presence through collaborations and mergers and acquisitions, focusing on increasing the depth of capabilities in technologies, software and services, leveraging extensive global channels to address customers’ emerging needs, strengthening research and development capabilities through different innovation centers and focusing on capacity additions to accelerate scientific exploration.

To take advantage of the opportunities, the publisher recommends the healthcare specialty enzymes companies to focus on new product launches, focus on advancements in enzyme engineering, integrate machine learning and artificial intelligence, expand in emerging economies, continue to focus on developed markets, focus on strategic partnerships and collaborations, offer competitive prices, continue to use B2B promotions, continue to participate in events and conferences and target fast-growing applications.

This report describes and explains the healthcare specialty enzymes market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.