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Medical Enzyme Technology Market to Cross US$ 6.8 Bn by 2030, TMR Study

Thursday, 27 October 2022 09:33 AM

WILMINGTON, DE / ACCESSWIRE / October 27, 2022 / Transparency Market Research Inc. -The products in the global medical enzyme technology market are used within diagnostics, as well as pharmaceutical sectors. Rising utilization of enzymes in biotech, as well as medical research is anticipated to create excellent growth opportunities in the global medical enzyme technology market in coming years. Researchers, medical professionals, and scientists are focused on overcoming the limitations of conventional enzyme technologies. According to a recent business intelligence study, the global medical enzyme technology market is anticipated to register a CAGR of 6% over the forecast period of 2020 to 2030.

Transparency Market Research inc., Thursday, October 27, 2022, Press release picture

Rising demand for low cost and affordable, yet effective medical treatments, as well as rising prevalence of cancer, is estimated to fuel growth within the global medical enzyme technology market in coming years. Furthermore, rising focus of market players on research and development, as well as growing public awareness regarding benefits of these advanced treatment solutions is positively impacting growth within the global medical enzyme technology market.

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Medical Enzyme Technology Market - Key Findings of the Report

  • Increasing Demand for Hydrolases Enzymes: Hydrolase enzymes possess the ability to accelerate the substrate's breakage. They also feature excellent catalyst effectiveness, broad specificity for substrates, are widely and commercially available, and showcase excellent stability. The hydrolases enzymes aid in treatment of several kind of disorders. Owing to their excellent properties, hydrolases enzyme products are expected to lead the global medical enzyme technology market in terms of demand in coming years.
  • Rising Use in Biotech and Diagnostic Applications: Products in the global medical enzyme technology market are widely used across diagnostic and pharmaceutical sectors. They are most commonly used as therapeutic agents in treatment of several disorders, most prominently ones caused by shortage of enzymes in the body. Furthermore, they are also used in various biotechnological, as well as diagnostic procedures, including sequencing and modification of DNA. Medical enzymes are also used in manufacture of several diagnostic testing solutions, such as ELISA.

Medical Enzyme Technology Market - Growth Drivers

  • Rising demand for enzyme replacement therapies boost demand within the global medical enzyme technology market
  • Rising number of investments aimed at research and development propel market growth
  • Increasing incidence of various types of cancer cases bolsters demand within the global medical enzyme technology market

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Medical Enzyme Technology Market - Key Players

Some of the leading companies operating in the global medical enzyme technology market include Merck KGaA, Promega Corporation, Thermo Fisher Scientific Inc., Genzyme Corporation, and Asahi Kasei Corporation. Players are focusing on enhancing the physical properties and qualities of medical grade enzymes, such as thermostability. They are increasing their investments in research and development to develop potent and technologically advanced solutions.

Medical Enzyme Technology Market - Regional Growth Assessment

North America led the global medical enzyme technology market in 2019. The recent study forecasts that the same region will continue dominating the market over the next decade. This trend can be ascribed to increase in the incidence of chronic diseases, rising investments made by regional players for research and development, and increase in the demand for enzyme replacement therapies. Furthermore, the presence of a large number of well-established players also aids in the expansion of the North America medical enzyme technology market.

Asia Pacific is projected to display significant growth in the global medical enzyme technology market in coming years. Growing awareness amongst public, milestone achievements in biotechnology research, and growing acceptance of new technologically advanced solutions and advancements in medical technology, are some of the key drivers for this market. Furthermore, growing pharmaceutical output of the regional pharmaceutical manufacturers is also favoring growth within the Asia Pacific medical enzyme technology market.

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Medical Enzyme Technology Market: Segmentation

Medical Enzyme Technology Market, by Enzyme Type

  • Digestive Enzymes
    • L-asparginase
    • Lactase
    • Others
  • Thrombolytic Enzymes
    • Streptokinase
    • Urokinase
    • Others
  • Hydrolases
    • Hyaluronidase
    • Lysozyme
    • Others

Medical Enzyme Technology Market, by Application

  • Disease Treatment
    • Cancer (Chemotherapy)
    • Metabolic Disorders
    • Others
  • Diagnostic Tools
    • Renal Disease
    • Cancer
    • Others
  • Biomedical Research
  • Others

Medical Enzyme Technology Market, by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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