The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s diagnostic enzyme market report forecasts the diagnostic enzyme market size to grow to $5.1 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.

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Diagnostic Enzyme Market Size Forecast

The global diagnostic enzyme market is expected to grow from $3.8 billion in 2022 to $4.02 billion in 2023 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The diagnostic enzymes market is expected to grow from $5.1 billion in 2027 at a CAGR of 6.1%.

North America held the largest diagnostic enzyme market share, and Middle East was the fastest-growing region in 2022.

Key Diagnostic Enzyme Market Driver ­– Rise In The Geriatric Population Increases The Number Of Patients For The Diagnosis Of Chronic Diseases

For example, the percentage of seniors is expected to grow from 28% in 2019 to 38% by 2050 in Japan. The increase in the ageing 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. According to the World Population Ageing report, there were 727 million people over the age of 65 in 2020, accounting for 9.3% of the global population, and this figure is expected to rise to around 16.0% by 2050.According to the World Health Organization report for 2021, approximately 10 million cancer-related deaths occurred in 2020. Thus, the rise in the geriatric population increases the number of patients for the diagnosis of chronic diseases, which, in turn, drives the diagnostic enzymes market.

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Key Diagnostic Enzyme Market Trend – Using Machine Learning And Artificial Intelligence

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 the catalysis of the reaction steps of an enzyme. For instance, companies such as BioMarker have invested in AI and machine learning for enzyme diagnostics.

Diagnostic Enzyme Market Segment

1) By Product Type: Carbohydrases, Polymerases And Nucleases, Protease, and Other Product Types

2) By Source: Animals, Microorganisms, and Plants

3) By Application: Biocatalysts, Diagnostics, Pharmaceuticals, Research, and Biotechnology

Diagnostic Enzyme Market Major Players and Strategies

Major players in the diagnostic enzyme market are Genzyme, Roche, Codexis, Aldevron, Kaneka Eurogentec, Vigene Biosciences, Amano Enzymes, Advanced Enzymes Technologies, Thermo Fisher Scientific, and EKF Diagnostic.

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 metabolising 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 with 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 Diagnostic Enzyme Global Market Report 2023 covers regional data on diagnostic enzyme market size, diagnostic enzyme market trends and drivers, opportunities, strategies, and diagnostic enzyme market competitor analysis. The countries covered in the diagnostic enzyme market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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.

View More Reports Related To The Diagnostic Enzyme Market –

Digestive Enzymes Global Market Report 2023

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