Report : Asia Pacific Medical Enzyme Technology Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Enzyme Type (Digestive Enzymes, Thrombolytic Enzymes, Hydrolases, and Endonucleases); Application (Disease Treatment, Diagnostic Tools, Biomedical Research, and Others)
Hydrolases Segment has the Largest Share of Enzyme Type in the Asia Pacific Medical Enzyme Technology Market during 2021–2028
According to a new market research study on “Asia Pacific Medical Enzyme Technology Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Enzyme Type, and Application” is expected to reach US$ 1,385.6 million by 2028 from US$ 854.1 million in 2021. The market is estimated to grow at a CAGR of 7.2% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific Medical enzyme technology market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the growing applications of enzymes for disease treatment and as diagnostic tools, significant increase in research and development activities to boost the awareness about radiation therapy are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the handling and safety issues related to enzymes.
Following a string of pneumonia cases in Wuhan, the Chinese health authorities, the capital city of Hubei province (China), declared in January 2020 that these cases were caused by a novel coronavirus, officially known as extreme acute respiratory syndrome coronavirus (SARS-CoV)-2. In the initial outbreak in Wuhan, China, COVID-19 patients with digestive symptoms were found. In a descriptive, cross-sectional, multicenter study involving 204 COVID-19 patients validated by laboratory testing, 41.6% of COVID-19 patients reported nausea or vomiting, and 17.2% reported diarrhea. Importantly, patients with serious disease have a higher prevalence of diarrhea, nausea, or vomiting than those with mild disease. Another single-center study from a single hospital in Wuhan found that digestive symptoms are closely related to the severity of COVID-19. Diarrhea, nausea, vomiting, stomach pain, and anorexia were more common in patients admitted to the intensive care unit (ICU) than in those who were not moved to the ICU, and the prevalence of anorexia between the two groups was statistically significant, suggesting that it could be a strong predictor of a serious illness. Thus, the increasing demand for digestive enzymes is due to rising cases of COVID-19 is driving the growth of the market in the forecasted period.
The market for medical enzyme technology market is segmented into enzyme type, and application. Based on enzyme type, the medical enzyme technology market is segmented into digestive enzymes, thrombolytic enzymes, hydrolases, and endonucleases. The hydrolases segment is expected to emerge as the leading segment over the projected period. The large share of this segment can be attributed to the growing applications of enzymes for disease treatment and as diagnostic tools. In addition, the rising prevalence of cancer, increasing demand for cost effective treatment modes, and growing awareness among the population concerning the early diagnosis of disease. However, the thrombolytic enzymes segment is estimated the register the fastest CAGR during the forecast period.
Merck Kgaa, Thermo Fisher Scientific Inc., Novozymes, Takeda Pharmaceutical Company Limited, Agilent Technologies, Inc., Genzyme Corporation, Asahi Kasei Corporation, Promega Corporation, Cytiva, and Amano Enzyme Inc. are among the leading companies in the Asia Pacific medical enzyme technology market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in March 2021, Amano Enzyme has introduced Umamizyme Pulse, a non-GMO enzyme engineered for use in a variety of plant protein products to produce a good, savoury (umami) flavour similar to that produced by monosodium glutamate (MSG), as well as a sensation of richness and complexity (kokumi).
The market for medical enzyme technology market is segmented into enzyme type, and application. Based on enzyme type, the medical enzyme technology market is segmented into digestive enzymes, thrombolytic enzymes, hydrolases, and endonucleases. Based on application, the medical enzyme technology market is segmented into disease treatment, diagnostic tools, biomedical research, and others. Geographically, the medical enzyme technology market is segmented into Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia Pacific).
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