Diagnostic Enzyme Global Market Report 2023
Major players in the diagnostic enzymes market are Genzyme, Roche, Codexis, Aldevron, Kaneka Eurogentec, Vigene Biosciences, Amano Enzymes, Advanced Enzymes Technologies, Thermo Fisher Scientific and EKF Diagnostic.
New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Diagnostic Enzyme Global Market Report 2023" - https://www.reportlinker.com/p06241847/?utm_source=GNW
The global diagnostic enzyme market is expected to grow from $3.60 billion in 2021 to $3.80 billion in 2022 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The diagnostic enzymes market is expected to reach $4.75 billion in 2026 at a CAGR of 5.7%.
The diagnostic enzymes market consists of sales of acid phosphatase, alanine aminotransferase, cholinesterase, and aspartate aminotransferase.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.
Diagnostic enzymes refer to the enzymes that are employed directly or as part of an assay system to determine the presence or absence of a variety of compounds, and they are used to detect, diagnose, or predict the development of disease conditions. These enzymes are used in diagnosis because of their substrate selectivity and quantified activity when other proteins are present.
North America was the largest region in the enzymes market in 2022.Middle East is expected to be the fargest growing region in the forecast period.
The regions covered in the diagnostic enzymes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in diagnostic enzymes are carbohydrates, polymerases, nucleases, proteases, and others.Any of a class of enzymes (such as amylase) that promotes carbohydrate breakdown or synthesis is referred to as a carbohydrase (such as a disaccharide).
The different sources include animals, microorganisms, and plants and are used in biocatalysts, diagnostics, pharmaceuticals, research, and biotechnology.
The rise in the geriatric population that increases the patient pool for the diagnosis of chronic diseases contributed to the growth of the diagnostic enzymes market.The proportion of people above the age of 65 years increased globally and age-related chronic ailments also increased.
For example, the percentage of seniors is expected to grow from 28% in 2019 to 38% by 2050 in Japan.The increase in the aging population has increased the patient pool of many chronic diseases such as rheumatoid arthritis, hypertension, diabetes, and cancer.
People suffering from these diseases are expected to be more vulnerable to chronic diseases, thus significantly influencing market growth during this period. For instance, according to the World Population Ageing report, as of 2020, there were 727 million people above the age of 65 years, which constituted 9.3% of the world population and is expected to increase to around 16.0 % in 2050. According to the World Health Organization report 2021, approximately 10 million cancer-related deaths occurred in 2020. Thus, the rise in the geriatric population increases patients for the diagnosis of chronic diseases and this, in turn, drives the diagnostic enzymes market.
The high sensitivity of enzymes to temperature & pH levels is expected to limit the diagnostic enzymes market.Enzymes need to be stored at optimum temperatures and are generally stored at -20 degrees Celsius.
According to the Worthington Biochemical Corporation, variations in the reaction by one or two degrees in temperature may have a change of 10 to 20% in the result.In enzymatic reactions, this is complicated as enzymes are adversely affected by high temperatures, and enzymes are expected to be deactivated at even moderate temperatures.
Enzymes are affected by changes in pH as pH is also a factor in the stability of the enzymes. The changes in temperature and pH levels may decrease the efficiency of the diagnostic enzymes which, in turn, hampers the growth of the diagnostic enzymes market.
The use of machine learning and artificial intelligence is gradually gaining popularity in the enzyme diagnostic market.Artificial intelligence (AI) is the simulation of human intelligence in machines and is programmed to display their natural intelligence.
Machine learning is a part of AI.Machine learning and AI help companies in the enzyme diagnostic market to conduct a detailed analysis of all relevant data, provide insights into the function of enzymes and allow physicians to understand the key determinants of the relationship between protein structure, function, and evolution, in terms of catalysis of reaction steps of an enzyme.
For instance, companies such as BioMarker have invested in AI and machine learning for enzyme diagnostics.
In June 2020, Codexis, Inc., a US-based protein engineering company and developer of high-performance enzymes, and Alphazyme LLC, a US-based company in the development and manufacture of nucleic acid metabolizing enzymes, announced a co-marketing enzyme supply collaboration agreement for the production and co-marketing of enzymes for life science applications, including diagnostics. This collaboration is expected to leverage the experience and industry knowledge of Alphazyme to accelerate the market introduction of Codexis’ portfolio of high-performing life science and diagnostic enzymes while providing Alphazyme exclusive manufacturing and co-marketing rights to CodeEvolver-improved enzymes. This partnership will allow both companies to jointly promote and sell these enzymes to innovators in life science and diagnostic markets.
The countries covered in the diagnostic enzymes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The diagnostic enzymes market research report is one of a series of new reports that provides diagnostic enzymes market statistics, including diagnostic enzymes industry global market size, regional shares, competitors with a diagnostic enzymes market share, detailed diagnostic enzymes market segments, market trends and opportunities, and any further data you may need to thrive in the diagnostic enzymes industry. This diagnostic 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.
Read the full report: https://www.reportlinker.com/p06241847/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001