Global specialty enzymes market to reach $4.3bn by 2015

Europe and US are largest regional markets, while Asia-Pacific is poised to grow fastest.

The global market for specialty enzymes, which received a setback during 2008 and 2009 because of turmoil in the global economy, is expected to reach $4.3bn by the year 2015, according to a report by market research publisher Global Industry Analysts.

Major players profiled in the report titled 'Specialty Enzymes: A Global Strategic Business Report' include Advanced Enzymes Technologies, Amano Enzyme, Aureozyme, Biocon, Biozyme Laboratories, Codexis, Danisco, Genencor International, Kinetic Biosystems, Maxygen, Novozymes, Seravac Biotech (Pty), Specialty Enzymes and Biochemicals and Verenium.

Global Industry Analysts said that increasing requirements of the pharmaceutical industry and the robust expansion of the biocatalyst sector will be the factors that drive the specialty enzymes market growth.

In the pharmaceutical and diagnostics industry, the largest end-use segment, increased use of specialty enzymes is expected to continue primarily driven by emergence of many new techniques and therapies, such as enzyme replacement and innovations in thrombolytics.

Another contributing element is the demand for chiral chemicals in the pharmaceutical and fine chemical fields where enzymes are used as biocatalysts.

Further, advances in the engineering of enzymes using biotechnological methods and processes, is likely to propel the market growth.

Europe and the US represent the largest regional markets for specialty enzymes worldwide. Asia-Pacific is poised to demonstrate the fastest growth with a CAGR of more than 5 per cent over the analysis period, mentioned the new market research report on specialty enzymes.