Overview and Scope
Diagnostic enzymes refer to the enzymes that are employed directly or as part of an assay system to determine the presence or absence of a variety of compounds, and they are used to detect, diagnose, or predict the development of disease conditions. These enzymes are used in diagnosis because of their substrate selectivity and quantified activity when other proteins are present.
Sizing and Forecast
The diagnostic enzyme market size has grown strongly in recent years. It will grow from $4.02 billion in 2023 to $4.25 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to rising prevalence of chronic diseases, increasing geriatric population, rising healthcare spending, government initiatives, increased awareness of preventive healthcare.
The diagnostic enzyme market size is expected to see strongly grown in the next few years. It will grow to $5.49 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to rising demand for point-of-care testing, growing focus on personalized medicine, rising demand for companion diagnostics, increasing demand for molecular diagnostics, rising demand for in vitro diagnostics, strong growth in the biotechnology industry. Major trends in the forecast period include customized enzyme solutions, automation and robotics, biomarker discovery, digital health integration, sustainability and green enzymes.
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Segmentation & Regional Insights
The diagnostic enzyme market covered in this report is segmented –
1) By Product Type: Carbohydrases, Polymerases And Nucleases, Protease, Other Product Types
2) By Source: Animals, Microorganisms, Plants
3) By Application: Biocatalysts, Diagnostics, Pharmaceuticals, Research & Biotechnology
North America was the largest region in the enzymes market in 2023. Middle East is expected to be the fastest-growing region in the diagnostic enzyme market report during the forecast period. The regions covered in the diagnostic enzyme market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
The rise in geriatric population is expected to propel the growth of the diagnostic enzymes market going forward. Geriatric population referred to as the elderly or senior population of individuals aged with 65 years and older. Diagnostic enzymes are required for geriatric population for diagnosing and monitoring age-related diseases and they are more susceptible to chronic diseases which require diagnostic enzyme testing. For instance, in October 2022, according to the World Health Organization, a US-based specialized health agency, 1 in 6 people globally will be 60 or older by 2030, and there will be a double number of individuals in this age group (2.1 billion) by 2050. Therefore, the rise in geriatric population is driving the growth of the diagnostic enzymes market.
Key Industry Players
Major companies operating in the diagnostic enzyme market include Sanofi S.A., Advanced Enzymes Technologies, Aldevron LLC, Amano Enzymes Inc., Codexis Inc., EKF Diagnostic, Kaneka Eurogentec, Roche Holding AG, Sekisui Diagnostics LLC, Thermo Fisher Scientific Inc., Charles River Laboratories, EKF Diagnostic, Biocatalysts, Merck & Co. Inc., Chr. Hansen, Kerry Group, Dyadic International, Creative Enzymes, Pfizer Inc., Eli Lilly and Company, Bristol-Myers Squibb Company, GlaxoSmithKline plc, Johnson & Johnson, AbbVie Inc., Amgen Inc., Biogen Inc., Gilead Sciences Inc., Regeneron Pharmaceuticals Inc.
The diagnostic enzyme market report table of contents includes:
- Executive Summary
- Diagnostic Enzyme Market Characteristics
- Diagnostic Enzyme Market Trends And Strategies
- Diagnostic Enzyme Market – Macro Economic Scenario
- Global Diagnostic Enzyme Market Size and Growth
- Diagnostic Enzyme Market Segmentation
- Diagnostic Enzyme Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Diagnostic Enzyme Market
- Diagnostic Enzyme Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Diagnostic Enzyme Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Diagnostic Enzyme Market, Segmentation By Source, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Diagnostic Enzyme Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Sanofi S.A. Financial Performance
Table 75: Advanced Enzymes Technologies Financial Performance
Table 76: Aldevron LLC Financial Performance
Table 77: Amano Enzymes Inc. Financial Performance
Table 78: Codexis Inc Financial Performance
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