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Diagnostic Specialty Enzymes Market Size

Report ID: GMI9686
Published Date: May 2024
Report Format: PDF

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Diagnostic Specialty Enzymes Market Size

Diagnostic Specialty Enzymes Market size was valued at USD 1.1 billion in 2023 and is anticipated to showcase growth at 8.1% CAGR from 2024 and 2032. Factors such as increasing adoption of molecular diagnostic tests, increasing demand for timely diagnosis of chronic diseases, and rapid adoption of point of care testing technologies are driving the revenue growth in market. Additionally, advances in enzyme production technology are also supporting the revenue growth in the market.

Diagnostic Specialty Enzymes Market

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Diagnostic specialty enzymes are category of enzymes that are specifically intended for use in diagnostic assays and tests to detect, quantify, and analyze biomarkers, pathogens, genetic variations, and other molecules associated with diseases or health conditions. Diagnostic enzymes have high specificity for their respective substrates, which ensures accurate detection and minimal interference from other components in the sample to be diagnosed.

Diagnostic Specialty Enzymes Market Report Attributes
Report Attribute	Details
Base Year:	2023
Diagnostic Specialty Enzymes Market Size in 2023:	USD 1.1 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	8.1%
2032 Value Projection:	USD 2.2 Billion
Historical Data for:	2021 – 2023
No. of Pages:	82
Tables, Charts & Figures:	156
Segments covered:	Product, Application, and Region
Growth Drivers:	Growth in molecular diagnostic tests Increasing demand for timely diagnosis of chronic diseases Rapid adoption of point of care testing technologies Advances in enzyme production technology
Pitfalls & Challenges:	Stringent regulatory requirements Concerns related to product quality and safety

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Diagnostic specialty enzymes industry size was worth USD 1.1 billion in 2023 and is projected to expand at 8.1% CAGR from 2024 to 2032, owing to the increasing adoption of molecular diagnostic tests, increasing demand for timely diagnosis of chronic diseases, and rapid adoption of point of care testing technologies.

The polymerase and nucleases product segment in the diagnostic specialty enzymes industry recorded 34.5% market share in 2023 and is estimated to depict substantial growth between 2024 and 2032, due to the increasing adoption of molecular diagnostic testing across in-vitro diagnostic testing laboratories.

The molecular diagnostics application segment in the diagnostic specialty enzymes industry accounted for USD 389.6 million in 2023 and is projected grow at significant rate from 2024 to 2032, due to their growing approval by regulatory authorities such as U.S. FDA and European Union (EU).

North America diagnostic specialty enzymes industry recorded 40.6% market share in 2023 and is anticipated to grow at significant rate between 2024 and 2032, led by the increasing adoption of new and advanced diagnostic tests such as digital PCR, Homogenous EIA, and point of care glucose monitoring tests.