Enzymes Global Market Report 2024

Enzymes are proteins that commonly function as biological catalysts, accelerating specific chemical reactions within cells without undergoing any alterations themselves.

Various enzyme product types include asparaginase, lipase, protease, nattokinase, chitinase, serratiopeptidase, collagenase, ligase, and others. Protease, for instance, catalyzes proteolysis, breaking down proteins into smaller polypeptides or individual amino acids while facilitating the creation of new protein products. These enzymes find application in treating conditions such as leukemia, stomach disorders, antitumor therapies, skin ulcers, Gaucher disease, Fabry disease, among others. They are utilized by drug manufacturers, hospitals, private clinics, and research laboratories.

The enzymes market research report is one of a series of new reports from The Business Research Company that provides enzymes market statistics, including enzymes industry global market size, regional shares, competitors with an enzymes market share, detailed enzymes market segments, market trends, and opportunities, and any further data you may need to thrive in the enzymes industry. This enzymes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The enzymes market size has grown rapidly in recent years. It will grow from $11.78 billion in 2023 to $13.52 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. The growth observed in the historical period can be attributed to several factors, including globalization fostering market expansion, increased investments in research and development, growing consumer awareness and demand, advancements in bioprocessing technology, and a focus on waste reduction and recycling initiatives.

The enzymes market size is expected to see rapid growth in the next few years. It will grow to $22.86 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. Forecasted growth is driven by market demand shifts, sustainable practices focus, health trends, biofuel/renewable energy, and emerging applications. Major trends include biotech advancements, sustainability emphasis, increased demand in food/beverage industries, industrial application expansion, and consumer preference for natural products.

The enzyme market is anticipated to experience growth driven by an increase in the prevalence of digestive disorders. These disorders, impacting the digestive system, encompass conditions such as gastroesophageal reflux disease (GERD), cancer, irritable bowel syndrome (IBS), lactose intolerance, hiatal hernia, and gallstones. Digestive enzymes play a crucial role in breaking down food into absorbable molecules. As of October 2022, the National Center for Biotechnology Information (NCBI) reports that the prevalence of irritable bowel syndrome (IBS) in the United States ranges between 10% and 15%, with nearly 12% of patients seeking medical care for IBS-related concerns in primary care practices. This rise in digestive disorders contributes to the growth of the enzyme market.

The enzyme market is expected to be fueled by the increasing prevalence of cancer, necessitating the use of drug-metabolizing enzymes (DMEs) for chemotherapy. These enzymes activate within the body to destroy cancer cells and break down tumors. The expression and functionality of drug-metabolizing enzymes (DMEs) in the tumor tissues and metabolic organs of cancer patients are crucial for those with a low response to anticancer drugs and chemotherapy. The Cancer Facts and Figures 2022 report by the American Cancer Society indicates an estimated 1.9 million new cancer cases in the United States in 2022, reflecting an increase from the 1.8 million reported in 2020. While the estimated number of cancer deaths in 2022 is slightly higher than in 2021, with 609,360 projected deaths compared to 608,570 in 2021. The rising prevalence of cancer treatable with therapeutic enzymes is anticipated to propel the growth of the enzyme market.

Leading companies in the enzyme market are focusing on innovation by developing advanced products such as Lamzede, catering to the needs of patients. Lamzede (velmanase alfa) is a pharmaceutical product designed for the treatment of alpha-mannosidosis, a rare genetic disorder characterized by insufficient activity of the lysosomal alpha-galactosidase-A enzyme. In a noteworthy development in May 2023, Chiesi Global Rare Diseases, a pharmaceutical manufacturing company based in the United States, obtained FDA approval for Lamzede (velmanase alfa). This approval pertains to the treatment of non-neurological symptoms in patients with mild-to-moderate alpha-mannosidosis. Lamzede represents a recombinant form of human alpha-mannosidase, developed using recombinant DNA technology in mammalian Chinese hamster ovary (CHO) cells. It stands out as the first enzyme replacement therapy sanctioned in the U.S. for addressing the non-central nervous system manifestations of alpha-mannosidosis.

A notable trend gaining prominence in the enzymes market is the exploration of novel approaches for cancer treatment utilizing enzymes. Substantial investments in research by major universities and companies aim to advance enzyme therapies for combating cancer. In another significant development in May 2023, Chiesi Global Rare Diseases secured FDA approval for ELFABRIO (pegunigalsidase alfa-iwxj), designed to address Fabry disease. This rare genetic disorder is characterized by insufficient activity of the lysosomal a-galactosidase-A enzyme, leading to the progressive accumulation of globotriaosylceramide (Gb3) in blood vessel walls throughout the body. ELFABRIO (pegunigalsidase alfa-iwxj) stands out as a PEGylated enzyme replacement therapy (ERT).

In February 2023, AstraZeneca, a U.S.-based pharmaceutical company, completed the acquisition of CinCor Pharma Inc. for $1.3 billion. This strategic move is set to strengthen AstraZeneca's cardiorenal pipeline through the incorporation of CinCor's candidate drug, baxdrostat (CIN-107). Baxdrostat is an aldosterone synthase inhibitor (ASI) designed for lowering blood pressure in individuals with treatment-resistant hypertension. CinCor Pharma Inc., the acquired biotechnology company, is based in the United States and is focused on the development of enzyme-based therapeutics.

Major companies operating in the enzymes market report are Ramboll Group A/S, Jacobs Engineering Group Inc., AECOM Technical Services Inc., ERM Group Limited, WSP Global Inc., SNC-Lavalin Group Inc., Wood PLC, Stantec Inc., Black & Veatch Corporation, Tetra Tech Inc., Arcadis NV, Mott MacDonald Group Ltd., GHD Group Limited, TRC Companies Inc., Form Technologies Inc., Golder Associates Ltd., Cardno Limited, CH2M HILL Engineers Inc., SLR Consulting Ltd., Weston Solutions Inc., IndustrySafe Inc., ECS Limited, Geosyntec Consultants LLC, Apex Companies Inc., GZA GeoEnvironmental Technologies Inc., Haley & Aldrich Inc., Intelex Corporation, iAuditor Inc., Metrix Software Solutions Inc., Lighthouse Systems Inc., SafetyTek Inc., Strategix Application Solutions LLC, Effivity Technologies LLC, SiteDocs Inc., SafetySync LLC, Qooling Systems Inc.

North America was the largest region in the enzymes market in 2023. The regions covered in the enzymes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the enzymes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The enzyme market consists of sales of oxidoreductases, transferases, and hydrolases. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Enzymes Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on enzymes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for enzymes ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The enzymes market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Product Type: Asparaginase; Lipase; Protease; Nattokinase; Chitinase; Serratiopeptidase; Collagenase; Ligase; Other Products
• 2) By Application: Leukemia; Stomach Disorders; Antitumor; Skin Ulcers; Gaucher Disease; Fabry Disease; Other Applications
• 3) By End User: Drug Manufacturers; Hospitals; Private Clinics; Research Laboratories
• Companies Mentioned: Ramboll Group A/S; Jacobs Engineering Group Inc.; AECOM Technical Services Inc.; ERM Group Limited; WSP Global Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.