Hydrolases Segment has the Largest Share of Enzyme Type in the North America Medical Enzyme Technology Market during 2021–2028
According to The Insight Partners market research study on “North America Medical Enzyme Technology Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Enzyme Type, and Application” is expected to reach US$ 2,857.6 million by 2028 from US$ 1,783.1 million in 2021. The market is estimated to grow at a CAGR of 7.0% from 2021 to 2028. The report provides trends prevailing in the North America Medical enzyme technology market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the growing applications of enzymes for disease treatment and as diagnostic tools, significant increase in research and development activities to boost the awareness about radiation therapy are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the handling and safety issues related to enzymes.
In the North American region, the US was profoundly affected by the outbreak of the COVID-19 pandemic. The country has marked the highest number of positive patients and still facing the second wave of COVID-19. Across the various healthcare sectors, the effect of a pandemic can be felt, resulting in various changes in the health care industry. Scientists are working together to produce and exchange genomic sequence data information, which can be used in disease detection and control efforts. The US is increasing its ability to track coronavirus mutations and has demand for digestive enzymes. It has also been documented that SARS-CoV-2 infection can cause liver damage, and that abnormal liver function and liver enzymes are associated with the severity of COVID-19. Extreme COVID-19 patients have higher levels of aspartate aminotransferase, alanine aminotransferase, and total bilirubin (TBL) than non-severe COVID-19 patients. Elevated hepatic enzymes are also more common in COVID-19 patients treated in the ICU compared to those not treated in the ICU. During the treatment of the first COVID-19 confirmed case in the United States, there was an overall increase in hepatic enzymes, indicating that SARS-CoV-2 infection would directly affect the liver. All such aspects will add to the future demand for the North America region's Medical Enzyme Technology market.
The market for medical enzyme technology market is segmented into enzyme type, and application. Based on enzyme type, the medical enzyme technology market is segmented into digestive enzymes, thrombolytic enzymes, hydrolases, and endonucleases. The hydrolases segment is expected to emerge as the leading segment over the projected period. The large share of this segment can be attributed to the growing applications of enzymes for disease treatment and as diagnostic tools. In addition, the rising prevalence of cancer, increasing demand for cost effective treatment modes, and growing awareness among the population concerning the early diagnosis of disease. However, the thrombolytic enzymes segment is estimated the register the fastest CAGR during the forecast period.
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. are among the leading companies in the North America medical enzyme technology market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in March 2021, Amano Enzyme has introduced Umamizyme Pulse, a non-GMO enzyme engineered for use in a variety of plant protein products to produce a good, savoury (umami) flavour similar to that produced by monosodium glutamate (MSG), as well as a sensation of richness and complexity (kokumi).
The market for medical enzyme technology market is segmented into enzyme type, and application. Based on enzyme type, the medical enzyme technology market is segmented into digestive enzymes, thrombolytic enzymes, hydrolases, and endonucleases. Based on application, the medical enzyme technology market is segmented into disease treatment, diagnostic tools, biomedical research, and others. Geographically, the medical enzyme technology market is segmented into North America (US, Canada, Mexico).