DUBLIN, August 19, 2021--(BUSINESS WIRE)--The "Diagnostic Enzyme Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
The global diagnostic enzymes market is expected to decline from $3.30 billion in 2019 to $3.14 billion in 2020 at a compound annual growth rate (CAGR) of -4.87%. The market is then expected to recover and reach $3.75 billion in 2023 at a CAGR of 6.02%.
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.
The diagnostic enzymes market consists of the sales of diagnostic enzymes and related services by entities (organizations, sole traders, and partnerships) that manufacture diagnostic enzymes. Enzymes are extensively used in the diagnosis of various diseases as they have remarkable biocatalytic properties. Only goods and services traded between entities or sold to end consumers are included.
The diagnostic enzymes market covered in this report is segmented by product type into carbohydrases; polymerases and nucleases; protease; others and by source into animals; microorganisms; plants.
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 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 degree 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 that, 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 about 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.
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. The rise in the geriatric population increases patients for the diagnosis of chronic diseases and this, in turn, drives the diagnostic enzymes market.
Key Topics Covered:
1. Executive Summary
2. Diagnostic Enzymes Market Characteristics
3. Diagnostic Enzymes Market Size And Growth
3.1. Global Diagnostic Enzymes Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Diagnostic Enzymes Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Diagnostic Enzymes Market Segmentation
4.1. Global Diagnostic Enzymes Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Polymerases and Nucleases
4.2. Global Diagnostic Enzymes Market, Segmentation By Source, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Diagnostic Enzymes Market Regional And Country Analysis
5.1. Global Diagnostic Enzymes Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Diagnostic Enzymes Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Advanced Enzymes Technologies
Thermo Fisher Scientific
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