New York, Sept. 27, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Diagnostic Enzyme Global Market Report 2021: COVID-19 Growth And Change To 2030” – https://www.reportlinker.com/p06151626/?utm_source=GNW
The global diagnostic enzyme market is expected to grow from $3.23 billion in 2020 to $3.53 billion in 2021 at a compound annual growth rate (CAGR) of 9.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4.44 billion in 2025 at a CAGR of 6%.
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.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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.
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 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.According to a 2018 study by the National Council on Aging, around 80% of the older adults have at least one chronic disease, and 77% have at least two.
Thus, the rise in the geriatric population increases patients for the diagnosis of chronic diseases and this, in turn, drives 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 countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06151626/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.