Hydrolases Segment has the Largest Share of Enzyme Type in the Europe Medical Enzyme Technology Market during 2021–2028

According to a new market research study on “Europe Medical Enzyme Technology Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Enzyme Type, and Application” is expected to reach US$ 1,799.6 million by 2028 from US$ 1,164.5 million in 2021. The market is estimated to grow at a CAGR of 6.4% from 2021 to 2028. The report provides trends prevailing in the Europe 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.

Countries in the European regions were profoundly affected due to the COVID-19 pandemic. For instance, countries such as Italy, Spain, and France have reported the highest number of positive cases and have registered the maximum number of deaths. European countries are observing a resurgence in COVID-19 cases after successfully mitigating outbreaks early in the year. Many countries are declaring more cases each day now than during the first wave earlier this year. Lockdowns are being reintroduced in the UK, Spain, Italy, and Ireland, as per the European Centre for Disease Prevention and Control (ECDC). Meanwhile, Europe is attempting to rebound from the COVID-19 crises' impact on citizens' health and its economy's stability. New policies in the European Green Deal would try to mitigate the pandemic's effects. Biotechnology can be a valuable tool in this recovery, from modern plant breeding methods that help us meet the goals of the Farm to Fork Strategy to pharmaceutical and medical innovations that allow us to stop the pandemic. Biotechnology in agriculture has improved animal nutrition, developed vaccines for animals, and improved diagnostics for BSE, foot-and-mouth disease, and salmonella. It has also made it possible to use enzymes. Hence, the European genomic market is likely to show significant growth prospects during this pandemic and forecasted year.

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 Europe 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 Europe (Germany, UK, France, Spain, Italy, Rest of Europe).