Specialty Enzymes Market Is Expected to Reach $947.5 Million, by 2020

According to a new report by Allied Market Research titled, "World Specialty Enzymes for Pharmaceuticals, Biotechnology R&D and Diagnostics - Market Opportunity and Forecast, 2014-2020", the global specialty enzymes market is expected to register a CAGR of 9.4% during 2015-2020. The pharmaceuticals application segment accounted for about half of the overall market share in 2014. The Asia Pacific market would exhibit the highest CAGR of 11.7% during the forecast period (2015-2020).

To know more about the report, visit the website at https://www.alliedmarketresearch.com/specialty-enzymes-market

Specialty enzymes are proteins that act as biocatalysts to accelerate chemical reaction and produce the desired results. Owing to low consumption and high degree of specificity, specialty enzymes are witnessing spurring demand in medical applications such as pharmaceutical, biotechnology research and diagnostics. The growing popularity of specialty enzymes in therapies for chronic diseases such as cancer, cardiovascular diseases, pain and inflammatory disorders among others is the vital force fuelling the market growth. In addition, growing awareness about enzyme-based therapeutics in the Asia Pacific and LAMEA region would further boost the market growth. However, safety concerns due to high vulnerability of enzymes towards contamination, would limit the overall market growth.

Pharmaceuticals is one of the major application segments which involves usage of specialty enzymes chiefly in drug formulation and drug delivery. However, the diagnostics segment would see limited growth over the forecast period, due to high cost of diagnostic enzymes (arising due to high purity requirements) and limitation related to accuracy of tests. Acylases enzyme segment dominated the global specialty enzyme market in 2014 and would continue to lead over the forecast period, due to its high utilization in pharmaceutical drug formulations.

Key findings of the study:

Pharmaceutical...