New York, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Enzymes Global Market Report 2023" - https://www.reportlinker.com/p06241900/?utm_source=GNW
The global enzymes market is expected to grow from $9.40 billion in 2021 to $10.25 billion in 2022 at a compound annual growth rate (CAGR) of 9.1%. 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 enzymes market is expected to reach $17.45 billion in 2026 at a CAGR of 14.2%.
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.
Enzyme refers to a protein that almost usually serves as a biological catalyst.It accelerates a certain chemical reaction in the cell.
It is a substance that serves as a catalyst in living things, controlling the speed at which chemical processes take place without undergoing any changes.
The main product types of enzymes are asparginase, lipase, protease, nattokinase, chitinase, serratiopeptidase, collagenase, ligase, and others.A protease is an enzyme that catalyzes proteolysis, which breaks proteins down into smaller polypeptides or single amino acids and promotes the formation of new protein products.
The enzymes are used for the treatment of leukemia, stomach disorders, antitumor, skin ulcers, gauche disease, Fabry disease, and others and are used by drug manufacturers, hospitals, private clinics, and research laboratories.
The enzymes market research report is one of a series of new reports 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 growing prevalence of cancer requiring drug-metabolizing enzymes (DMEs) for chemotherapy is expected to drive the growth of the enzyme market in the coming years.The activation of enzymes in the human body help destroy the cancer cells and breaks down the tumor.
The expression and function of drug-metabolizing enzymes (DMEs) in cancer patients’ tumor tissues and metabolic organs is therefore essential and help patients for whom reaction to anticancer drugs and response to chemotherapy is low.According to the World Health Organization (WHO), 10 million deaths occurred in 2020 due to cancer and about 70% of deaths from cancer occur in low- and middle-income countries.
Therefore, the increasing prevalence of cancer that can be cured using therapeutic enzymes is predicted to drive the growth of the enzyme market.
The development of new approaches to treat cancer using enzymes is a key trend gaining popularity in the enzymes market.Major universities and companies are investing in research focusing on evolving new solutions in enzyme therapies for cancer treatment.
For example, in August 2020, scientists from McGill University and Osaka University in Japan were able to unlock the behavior of an enzyme involved in the spread of cancer cells by using the CMCF beamline at the Canadian Light Source (CLS) at the University of Saskatchewan.
In May 2020, AbbVie Inc., an America-based biopharmaceutical company acquired Allergan plc for $63 billion. This acquisition significantly expands and diversifies AbbVie’s revenue base and complements existing leadership positions in Immunology, with Humira and recently launched Skyrizi and Rinvoq, and Hematologic Oncology, with Imbruvica and Venclexta. Allergan plc is an Ireland-based pharmaceutical company engaged in the research, development, and manufacture of pharmaceutical and enzyme-based therapeutic products.
The regions covered in the enzymes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the enzymes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) 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.
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