Dublin, December 24, 2020 (GLOBE NEWSWIRE) – Added to the report “Global Market Enzymes Report 2020-30: COVID-19 Growth and Change” ResearchAndMarkets.com’s offering.
The global enzymes market is expected to decline from $ 7.98 billion in 2019 to $ 7.81 billion in 2020 at a complex annual growth rate (CAGR) of -2.20%. The decline is largely due to the COVID-19 revolution that has led to limited containment measures including social distance, remote working, and the closure of businesses and other commercial activities leading to operational challenges. The entire supply chain was disrupted, adversely affecting the market. The market is then expected to recover and reach $ 11.92 billion in 2023 at a CAGR of 15.15%.
The enzyme market includes the sale of enzymes to treat diseases. An enzyme produced by living cells is a protein or RNA that is unique to its substrates and is highly catalytic. Enzymes are a very important class of biological macromolecular catalysts. An enzyme used in medical applications is a therapeutic enzyme in its isolated or combined form with drugs or other medications. Therapeutic enzymes are used in the treatment of various diseases including cancer, inflammatory disorders, cardiovascular diseases, and pain management.
North America was the largest segment in the enzyme market in 2019.
In May 2020, AbbVie Inc., a US-based biopharmaceutical company, acquired Allergan plc for $ 63 billion. This build significantly expands and diversifies AbbVie’s revenue base and adds to the existing leadership roles in Immunology, with Humira and most recently the addition of Skyrizi and Rinvoq, and Hematologic Oncology launched, with Imbruvica and Venclexta. Allergan plc is an Irish-based pharmaceutical company engaged in the research, development and manufacture of pharmaceutical and enzyme-based pharmaceuticals.
The enzyme market covered in this report is segmented by product type to asparaginase; lipase; protease; nattokinase; chitinase; serratiopeptidase; collagenase; ligase; others and by exposure to leukemia; stomach disorder; antitumor; skin ulcers; gaucher disease; galar fabry; others.
The development of new approaches to the treatment of cancer using enzymes is a key trend that is gaining popularity in the enzyme market. Leading universities and companies are investing in research focusing on new solutions in enzyme therapies for cancer treatment. For example, in August 2018, Kyn Therapeutics, a U.S.-based company that aims to improve outcomes for cancer patients, along with the Texas Institute for Cancer Prevention and Research and the American Cancer Society funded the research. new approach to cancer care using enzyme therapy to stimulate the immune system and fight back. The enzyme, PEG-KYNase, does not specifically destroy cancer cells but it does enable the immune system itself to remove unwanted cells. PEG-KYNase is designed to reduce the metabolite produced by a number of tumors called kynurenine, which overwhelms the immune system.
Cancer growth and the need for enzyme metabolizing drugs (DMEs) for chemotherapy are expected to drive the growth of the enzyme market in the coming years. Enzyme activation in the human body helps to destroy the cancer cells and break down the eardrum. The sensitivity and function of DMEs in tumor tumors of cancer patients and metabolic organs is therefore essential and helps patients respond to anticancer drugs and respond to low chemotherapy. According to the World Health Organization (WHO), 9.6 million deaths occurred in 2018 as a result of cancer and about 70% of deaths from cancer occur in low- and middle-income countries. Therefore, more and more cancers, which can be treated using therapeutic enzymes, are expected to drive the growth of the enzyme market.
Scope of the report:
Markets covered:
1) By product type: Asparaginase; Lipase; Protease; Nattokinase; Chitinase; Serratiopeptidase; Collagenase; Ligase; Others
2) With Application: Leukemia; Stomach Disorders; Antitumor; Skin ulcers; Gaucher’s disease; Fabry disease; Others
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; RA; USA
Categories: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five historical years and ten year forecast.
Data: Ratios of market size and growth to related markets, GDP allowances, per capita expenditure,
Data types: Historical and rural and regional historical data, market share of competitors, market segments.
Companies mentioned
- Sanofi
- AbbVie Inc.
- Alexion Pharmaceuticals Inc.
- Horizon Pharma
- Allergan plc
- Pfizer Inc.
- Vivus
- Digestive Care
- Leadiant Biology
- Roche Holdings AG
- Codexis Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/obe9i6
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