The diagnostic enzyme global market is expected to reach $4.75 billion by 2026 and is projected to reach a CAGR of 5.7% over the forecast period from 2021 to 2026. This market is driven by the rise in the geriatric population and the growing vulnerably of patients suffering from chronic diseases to avail diagnosis services. Additionally, the increasing prevalence and sophistication of enzyme analysis and the growth in awareness about these technologies among the public are also contributing to the growth of this market.
Major players in this market include Genzyme, Roche, Codexis, Aldevron, Kaneka Eurogentec, Vigene Biosciences, Amano Enzymes, Advanced Enzymes Technologies, Thermo Fisher Scientific and EKF Diagnostics.
Genzyme is a global leader in the biomedical field and a developer and manufacturer of diagnostic enzymes. Its product range includes pharmaceuticals, recombinant proteins, monoclonal antibodies, reagents and enzymes. The company offers high-quality diagnostic enzymes to customers and obtains regular orders from it. It holds a good reputation in the market for providing effective and customized analytical solutions. Roche is the second largest company in the diagnostic enzymes market. It is known for its diagnostic technologies, systems and reagents, which are based on immunochemical, molecular, and enzyme technology.
The diagnostic enzymes market is segmented by product type, into carbohydrates, polymerases, nucleases, proteases and other product types. Carbohydrases are the most widely used product type, followed by polymerases and nucleases. Carbohydrases are a group of enzymes that catalyze the breakdown of carbohydrates into simple sugars. They are used in a wide range of applications, including food processing, pharmaceuticals, biochemical, and others.
The market is further segmented geographically and across countries. North America was the largest region in the enzymes market in 2021. The market in this region is expected to show significant growth owing to the presence of major players and the high healthcare expenditure. Asia Pacific is also one of the prominent regions in this market, as there is a growing demand for diagnostic enzymes from countries like China, and India due to the increasing number of patients, medical advancements and increasing healthcare awareness. The Middle East is expected to be the fastest growing region owing to the initiatives taken by the governments of countries in the region to upgrade their existing healthcare frameworks.
The use of machine learning and artificial intelligence is gradually gaining popularity in the diagnostic enzymes market. Artificial intelligence (AI) is the simulation of human intelligence in machines and is programmed to display natural intelligence. Machine learning is a component of AI, which helps companies to analyze all relevant data, provide insights into the functioning of enzymes, and help doctors to understand the important determinants of the relationship between protein structures, functions and evolution, in terms of catalysis of reaction steps of an enzyme. For example, BioMarker has invested in AI and machine learning for enzyme diagnostics.
However, the sensitivity of enzymes to temperature and pH levels is expected to restrain the growth of the diagnostic enzymes market. Enzymes are adversely affected by changes in temperature and pH levels, which may decrease the efficiency of diagnostic enzymes.
In conclusion, the growth of the diagnostic enzyme global market is expected to be driven by the increasing geriatric population, the growing demand for diagnostics, and the increasing use of machine learning and AI. Despite the challenges posed by temperature and pH sensitivity, this market is set to witness strong growth in the upcoming years as manufacturers continue to innovate and widen the scope of their products.
