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 enzymes market report forecasts the enzymes market size to grow to $19.73 Billion by 2027, with a CAGR (compound annual growth rate) of more than 14%.

Learn More On The Enzymes Market Report 2023 – https://www.thebusinessresearchcompany.com/report/enzyme-global-market-report

Enzymes Market Size Forecast

The global enzymes market is expected to grow from $10.25 billion in 2022 to $11.63 billion in 2023 at a compound annual growth rate (CAGR) of 13.5%. 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 enzymes market is expected to grow from $19.73 billion in 2027 at a CAGR of 14.1%.

Key Enzymes Market Driver ­– Growth In Prevalence Of Cancer Requiring DMEs For Chemotherapy

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.

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Key Enzymes Market Trend – Developing New Approaches To Treat Cancer

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.

Enzymes Market Segment

1) By Product Type: Asparginase, Lipase, Protease, Nattokinase, Chitinase, Serratiopeptidase, Collagenase, Ligase, Other Products

2) By Application: Leukemia, Stomach Disorders, Antitumor, Skin Ulcers, Gaucher Disease, Fabry Disease, Other Applications

3) By End User: Drug Manufacturers, Hospitals, Private Clinics, Research Laboratories

Enzymes Market Major Players and Strategies

Major players in the enzymes market are Sanofi, AbbVie Inc., Alexion Pharmaceuticals Inc, Horizon Pharma, Allergan plc, Pfizer Inc., Vivus, Digestive Care, Leadiant Biosciences, Roche Holdings AG and Codexis Inc.

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 Enzymes Global Market Report 2023 covers regional data on enzymes market size, enzymes market trends and drivers, opportunities, strategies, and enzymes market competitor analysis. The countries covered in the enzymes 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.

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.

View More Reports Related To The Enzymes Market –

Diagnostic Enzyme Global Market Report 2023

Enzyme Inhibitor Global Market Report 2023

Specialty Enzymes Global Market Report 2023

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