New York, global Medical Enzyme Technology market was valued at USD 3.9 Billion in 2022 and it is anticipated to grow up to USD 7.7 Billion by 2032, at a CAGR of 7.0% during the forecast period.
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Enzymes play a crucial role in the metabolic activities of all organisms, whether animal, human, plant, or microbial. They have an extensive range of applications in microbial biotechnology and diagnosis processes. The abnormality of the enzyme metabolism system leads to many metabolic diseases. Further, enzymes can be used as medicines to treat a range of diseases; they are called medicinal enzymes. For example, trypsin can be used not only to accelerate wound healing and dissolve blood clots but also to remove necrotic tissue and inhibit the proliferation of contaminating microorganisms. L-asparaginase can be used to treat cancer by depriving nutrients needed by the growth of cancer cells. Protease (like multi-enzyme tablets) can be used to treat dyspepsia, and it has an anti-inflammatory effect. Moreover, lipase, superoxide dismutase, nattokinase, soybean meal plasmin, and thrombin, among others, can be used to treat diseases.
Market Trends and Drivers
Rising demand for low cost and affordable, yet effective medical treatments, as well as rising prevalence of cancer, is estimated to fuel growth within the global medical enzyme technology market in coming years. Furthermore, rising focus of market players on research and development, as well as growing public awareness regarding benefits of these advanced treatment solutions is positively impacting growth within the global medical enzyme technology market.
Major Players in the Global Medical Enzyme Technology Market
The key players in the market are Merck KGaA, Thermo Fisher Scientific Inc., Novozymes, Takeda Pharmaceutical Company Limited, Agilent Technologies, Inc., Genzyme Corporation, Asahi Kasei Corporation, Promega Corporation, Cytiva, and Amano Enzyme Inc ., among others.
COVID-19 Impact:
The current pandemic outbreak of COVID-19 across the globe is further set to result in an exponential growth rate of this segment from 2020 to 2027. For instance, an Indian biotechnology company namely, Richcore Lifesciences is set to introduce 2pivotalenzyme components, applied largely across theCOVID-19 diagnostic kits based on Reverse Transcription Polymerase Chain Reaction (RT-PCR).
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Also, a U.S. based manufacturer – Creative Enzymes has expanded the portfolio of healthcare specialty enzymes, acknowledging the present use of Nucleic Acid Test (NAT) and serological tests for COVID-19 diagnosis.
Global Medical Enzyme Technology Market Segmentation
By Enzyme
- Digestive Enzyme
- Thrombolytic Enzyme
- Hydrolases
- Others
By Application
- Disease Treatment
- Diagnostic Tools
- Biomedical Research
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