Persistence Market Research
Enzymes are biochemical molecules released by living cells that act as biocatalysts and are extremely selective in their mode of action. Enzymes that can be used for medical purposes either in their isolated form or conjugation with some other therapies or drugs are called as therapeutic enzymes. Enzymes are being used for therapeutic purposes for almost 40 years now. Enzymes have two important properties because of which they can be used as potent drugs or therapeutic enzymes. These properties include the high affinity and specificity with which the enzymes bind to their substrate; this property forms the basis for target oriented application of therapeutic enzymes. The second important property of enzymes is their ability to convert multiple substrate molecules into desired product molecules. These properties enabled manufacturers to formulate potent and highly specific drugs from enzymes. Therapeutic enzymes can be used in the treatment of diseases like cancer, cardio vascular diseases, pain and inflammatory disorders and as replacements for metabolic deficiencies.
According to the data of the American Cancer Society, 1,685,210 new cases of cancers are expected to be diagnosed in 2016, in the U.S. alone, and according to the data of World Health Organization, 17.7 million people died from cardiovascular diseases globally in 2015. This data illustrates the potential for cancer and cardio vascular therapeutics market. Therapeutics enzymes being important in the treatment of both the diseases, their usage is expected to become more common in the forecast period.
Therapeutic Enzymes Market: Drivers and Restraints
The most important factors that are expected to drive the growth of the therapeutic enzymes market includes the ever-increasing number of cases of cancer and cardio vascular diseases globally. Also, the change in the lifestyle is responsible for increasing stress level which in turn is responsible for increasing the number of cases of pain disorders, consequently raising the demand for therapeutic enzymes. Other factors that can boost the revenue from the therapeutic enzymes market are rising expenditures on healthcare that is leading to the adoption of advanced enzymes like immobilized enzymes for the therapeutic purposes.
Factors that can limit the growth of the therapeutic enzymes in the forecast period include the fact that not all the tissues can be cured with therapeutic enzyme therapy. Also, therapeutic enzyme therapies are expensive and more affordable options are available in the market, that can limit the growth of the therapeutic enzyme market.
Therapeutic Enzymes Market: Segmentation
Therapeutic enzymes market can be segmented by product type, application and end user.
On the basis of product type
On the basis of application
On the basis of end user
Therapeutic Enzymes Market: Overview
Therapeutic enzymes market is a growing market and is expected to see an even higher growth in the forecast period. Factors such as increasing aging population worldwide and increasing awareness about therapeutic enzymes are responsible for fueling the growth of the therapeutic enzymes market. The increase in the number of pharmaceutical manufacturers in the Asia Pacific and the Middle East and Africa region due to increasing demand for the drugs is also responsible for the revenue growth of the therapeutic enzymes market in the forecast period.
Therapeutic Enzymes Market: Region-wise Outlook
Therapeutic enzymes market is in its growth phase, and hence this market is not completely developed in the emerging regions of Asia Pacific and the Middle East and Africa, but the therapeutic enzymes market is expected to see high growth in the forecast period due to several factors. North America therapeutics enzyme is the most developed market regarding revenue, followed by Europe.
Therapeutic Enzymes Market: Key Market Participants
Some of the key participants of therapeutics enzyme market include Novozymes, Roche Holdings AG, Thermo Fischer Scientific, Codexis Inc. To retain their market share in the therapeutic enzymes market, key participants are following strategies like acquisitions and increasing their portfolios.
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