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Diagnostic Enzymes Market

Diagnostic Enzymes Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

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Industry: Pharmaceuticals & Biotechnology | Author Name: Sayali


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Preliminary research of Fairfield Market Research indicates a promising growth outlook for global diagnostic enzymes market during the course of next few years.

Rise in Preference for Enzyme-based Diagnostics for Chronic Health Conditions to Support Diagnostic Enzymes Market Growth

The detection and measurement of diverse compounds frequently employ diagnostic enzymes. Various aberrant metabolic processes, infections, infectious and non-infectious disorders, and inflammatory states can all be detected by changes in biomolecule concentration. Rapid and accurate serious disease diagnosis and appropriate treatment support ideal clinical outcomes and public health. The increasing use of enzyme-based diagnostic tests, advancements in diagnostic technology, discoveries and developments in the biotechnology field, the rise in chronic and infectious diseases, and significant investments in research and development are the main drivers of diagnostic enzymes market growth. Because of fresh R&D over time, the biotechnology industry became one of the fastest-growing markets. For instance, CRISPR technology, which stands for clustered regularly interspaced short palindromic repeats, has expanded the applications of recombinant DNA technology in pharmaceutical, medical, and other fields. The rise in infectious and other chronic diseases, corporations' growing interest in the enzyme due to its dynamic capabilities, and an increasing global geriatric population are further factors driving the growth of the diagnostic enzyme market.

According to the United Nations' World Ageing Highlight for 2020, approximately 727 million individuals worldwide were 65 and older. By 2050, there will be 1.5 billion of them, which might help the diagnostic enzymes market increase. The high sensitivity of enzymes to pH and temperature is the main issue limiting the expansion of the diagnostic enzyme industry. Proteins called enzymes need ideal pH and temperature conditions to be stable and carry out their intended activity. A very little change in these two variables could denature the enzyme, rendering the diagnostic kit ineffective or producing unreliable results. Furthermore, the logistics and storage conditions in most nations, except industrialized nations, should be better to preserve the enzyme's ideal conditions. Another consideration is the enzyme's price, often very high because producing and isolating the enzyme is expensive.

Diagnostic Enzymes Market: COVID-19 Impact

The effectiveness of enzymes in the diagnosis of COVID-19 has fueled diagnostic enzymes market expansion. The market offers a wide variety of commercial COVID-19 tests. Others include serological and immunological assays that look for antibodies made in response to the virus. Some tests use nucleic acid hybridization-related methods or the PCR technique to identify the SARS-CoV-2 viral RNA. The United States government launched the Cancer Moonshot in February 2022 to increase cancer screening rates and locate missed cases owing to the COVID-19 pandemic. The government intends to cut cancer-related fatalities by 50% over the next 25 years through early detection and treatment, which will increase demand for cancer diagnostic enzyme testing.

Rise in Geriatric Population Drives Diagnostic Enzymes Market Growth

The diagnostic enzymes market has expanded due to the expansion in the elderly population, which expands the patient pool for the diagnosis of chronic diseases. Globally, the percentage of adults over 65 rose, along with the prevalence of age-related chronic illnesses. For instance, in Japan, the proportion of seniors is predicted to increase from 28% in 2019 to 38% in 2050. The number of people with chronic diseases such as rheumatoid arthritis, hypertension, diabetes, and cancer has increased due to the aging population. People with these illnesses are predicted to be more susceptible to chronic illnesses, which will substantially impact market growth over this time. Around 10 million people died from cancer in 2020, according to a World Health Organization report from 2021.

Surging Investments in AI, and Machine Learning Spur Diagnostic Enzymes Market Growth

Machine learning and artificial intelligence are slowly gaining appeal in the diagnostic enzymes market. Artificial Intelligence (AI) is the programming of machines to mimic human intelligence and exhibit their inherent intelligence. A component of AI is machine learning. Machine learning, and AI assist businesses in the market to thoroughly analyse all pertinent data, offer insights into the function of enzymes, and enable doctors to understand the primary determinants of the relationship between protein structure, function, and evolution, in terms of catalysing reaction steps of an enzyme. For instance, businesses like BioMarker have poured money into artificial intelligence and machine learning for enzyme diagnostics.

Sensitivity of Temperature and pH Levels for Storing Enzymes, and High Cost Remain Major Growth Challenges Facing Diagnostic Enzymes Market

Enzymes must be kept at the ideal temperature, typically -20 degrees Celsius. According to the Worthington Biochemical Corporation, temperature changes of one or two degrees can affect a reaction's outcome by as much as 10-20%. This is challenging in enzymatic reactions because enzymes are sensitive to high temperatures and are predicted to become inactive at very low temperatures. Since pH also affects the stability of the enzymes, variations in pH have an impact on enzymes. Changes in temperature and pH levels could reduce the effectiveness of the diagnostic enzymes, which would impede the diagnostic enzymes market's expansion for these enzymes. Additionally, due to concerns about healthcare spending, and an increase in the usage of diagnostic enzyme testing, the financial pressure on these tests has increased during the past ten years. For product approvals, the diagnostic industry is likewise subject to strict rules. At first, the only prerequisite for the registration of diagnostic tests in the EU was CE mark approval. Regulating bodies, however, also need evidence of significant test benefits and affordable costs due to financial constraints.

Polymerase and Transcripts Segment Dominates Diagnostic Enzymes Market as Application Base Widens

The fastest revenue growth is expected in polymerase and transcriptase, which had the largest revenue share of 29.5% in 2021. Their extensive use in molecular diagnostic assays is credited with this. Additionally, a sizable number of firms that provide these enzymes are present, which is anticipated to boost industry expansion. Over the projection period, the proteases segment is anticipated to experience significant expansion. Proteases are anticipated to become more popular in standard molecular biology processes. Heat-labile proteases are employed to break down heat-stable molecular biology enzymes like PvuII and Taq Polymerase, which mild heat treatment further inactivates. With the increasing incidence of cancer cases worldwide and the adoption of IVD techniques like in-situ hybridization (ISH) and next-generation sequencing (NGS) in the field of oncology, the use of proteases in the oncology disease type is anticipated to experience significant growth over the course of the forecast period.

Clinical Segment Leads Diagnostic Enzymes Market in Line with Growing Application in Clinical Chemistry

Due to the growing usage of enzymes in clinical chemistry, which is connected to examining body fluids for therapeutic and diagnostic purposes, the clinical segment accounted for the biggest revenue share in the diagnostic enzymes market. Small variations in the concentrations of body fluids like blood, plasma, or serum may signal the beginning of an illness that could be fatal. As a result, the analytical methods used in clinical chemistry should be quick, focused, and extremely sensitive. The selectivity and speed of the enzymes make them an essential component of clinical chemistry diagnostic processes. The substrate in an assay can be evaluated using enzyme specificity, or interferences can be eliminated from another process. Enzymes are additionally used to measure co-factors, inhibitors, and activators. Due to their catalytic activity, enzymes are also ideal for use as labels in immunoassay processes.

North America Dominates Diagnostic Enzymes Market with Higher Number of Infectious Diseases

In 2021, the market was dominated by North America. Due to the increased need for enzymes and the rising incidence of infectious diseases there, the region has become dominant. To combat the continuing epidemic, the FDA has approved COVID-19 laboratory-developed diagnostics for emergency use. The majority of these emergency usage authorizations also make use of RT-PCR-based testing and enzyme-linked immunosorbent assays for the identification of SARS-CoV-2. Creating such tests is anticipated to be profitable in the North American diagnostic enzymes market because of the high usage of enzymes during RT-PCR. Additionally, it is projected that demand for histology, clinical chemistry, and molecular biology procedures will increase during the forecast period due to the rising prevalence of cancer and infectious diseases such as COVID-19, HIV/AIDS, hepatitis, and other disorders.

Asia Pacific is expected to have the fastest growth in the diagnostic enzymes market. Key manufacturers of diagnostic enzymes are expected to benefit from a potential growth platform in this region due to a number of factors, including the presence of a sizable target population, rising healthcare spending, high unmet clinical needs, expanding healthcare infrastructure, rising R&D activities for advanced diagnostic techniques, increasing government initiatives, and improving healthcare infrastructure.

Global Diagnostic Enzymes Market: Competitive Landscape

Co-Diagnostics' Logix Smart, a nuclease-based testing kit to detect COVID-19 in cancer cells, undergoes successful testing in May 2020. Similarly, Sherlock Biosciences and Dartmouth-Hitchcock Health (D-HH) collaborated to start a clinical investigation of the Sherlock CRISPR nuclease-based SARS-CoV-2 kit in August 2020. This kit is used to identify the SARS-CoV-2 virus that causes COVID-19. A partnership agreement for the manufacturing and joint marketing of the enzymes used in the diagnostics and life sciences markets was signed between Codexis Inc., and Alphazyme LLC in June 2020.

A few of the players in the diagnostic enzymes market include Kaneka Eurogentec S.A., Spark Therapeutics, Inc., Aldevron, Biovian, Brammer Bio, Genzyme Corporation, Cobra Biologics, FinVector Vision Therapies, Oxford Gene Technology, and Vigene Biosciences Inc.

Global Diagnostic Enzymes Market is Segmented as Below:

By Product Type

  • Carbohydrases
  • Polymerases and Nucleases
  • Protease
  • Others

By Application

  • Biocatalysts
  • Diagnostics
  • Pharmaceuticals
  • Research & Biotechnology

By Source

  • Animals
  • Microorganisms
  • Plants

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • South Korea
    • India
    • China
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Elements Included In The Study: Global Diagnostic Enzymes Market

  • Diagnostic Enzymes Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2018 - 2021
  • Market Value at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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Disclaimer:

  • The segmentation/company profiles/countries depicted above may vary in the actual report.

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