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Diagnostic Specialty Enzymes Market Trends

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

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Diagnostic Specialty Enzymes Market Trends

Growing research in enzyme production and engineering is leading to the development of new enzymes with enhanced properties, such as improved specificity, stability, and catalytic efficiency, and higher yield of enzymes during production. Vendors are increasingly focusing towards surging the production efficiency of diagnostic specialty enzymes for enabling their commercial production.
For instance, as part of the Smart Cell Project initiated by the New Energy and Industrial Technology Development Organization (NEDO), Asahi Kasei Pharma collaborated with the National Institute of Advanced Industrial Science and Technology (AIST) to enhance the production efficiency of cholesterol esterase, a specialty diagnostic enzyme.
Vendors are increasingly focusing towards offering specialty enzymes as an individual product rather than as a part of kit. Availability of individual specialty enzymes has enabled the medical diagnostic settings to customize the assays and workflows as per the requirements.
The COVID-19 pandemic has accelerated the adoption of point-of-care (POC) testing and rapid diagnostics technologies, to facilitate early diagnosis, and treatment of patients. POC testing has helped in providing rapid results within few minutes to hours, compared to traditional laboratory-based testing, thereby increasing the demand for diagnostic specialty enzymes globally.

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.