The enzyme-substrate market is estimated to secure a valuation of US$ 4.2 Billion in 2023 and is estimated to rise to US$ 7.4 Billion by 2033. The market is anticipated at a CAGR of 5.8% during the forecast period. The factors accelerating the demand for enzyme-substrate are as follows-
Increased advancement in technology has led to increased development of enzyme substrates with improved properties like specificity, stability, and activity likely to boost the market growth. The growing advances in enzyme engineering are expected to drive the enzyme-substrate market during the forecast period.
The major factor driving the growth of the enzyme-substrate market is the growing demand for the substrate from end-use industries like food & beverages, pharmaceuticals, biofuels, cosmetics & skincare industries. Also, the increased application of enzyme substrates in research & development activities boosts market growth.
The increased number of tests performed to detect Lyme diseases like ELISA tests and Western Blot driving the sales of the enzyme-substrate market.
North America dominates the enzyme-substrate market owing to the increased demand from the food & beverage industry and the growing healthcare industry in the region. The presence of other endues industries like pharmaceuticals, skincare, and personal care are driving market growth in the region. Europe is projected to witness the fastest growth in the enzyme-substrate market during the forecast period owing to the increased production of enzyme-substrate in many European countries.
Asia Pacific is expected to exhibit the fastest growth in the enzyme-substrate market during the forecast period owing to the expanding healthcare expenditure and increased demand for high-quality food products.
With the presence of such a high number of participants, the enzyme-substrate market is highly competitive. Some of the leading manufacturers operating in the enzyme-substrate market include Sanofi, GlaxoSmithKline Plc. Bayer AG, Merck KgaA, LOreal, Beiersdorf, Novartis AG, Hoffman La Roche,ltd, Novo Nordisk A/S, Unilever, New Avon Company, Hankel AG & Co, Novozymes, Enzyme Development Corporation, DuPont Danisco, Associated pitish food Plc, Novus International, Adisseo, and Lesaffre, among others.
The market players in the enzyme-substrate market follow the strategies such as a merger, acquisitions, and partnerships. Also, the market players have increased R&D investments to increase their market presence
For instance, in January 2022- Sanofi announced a research collaboration and license agreement with Exscientia. with this collaboration, Sanofi aims to accelerate drug discovery and improve clinical success and develop up to 15 novel small molecule candidates across oncology and immunology.
The enzyme-substrate market is expected to grow in the coming years. The increasing demand for enzyme substrates for drug discovery and the cell-based assay is expected to drive market growth during the forecast period. Also, the expansion of the biocatalyst market and the development of new enzyme substrates by leading manufacturers, increase the sales of the market. Several start-ups have entered the wet wipes canister market with innovative products and technology.
For instance, founded in 2014- Glycospot develops solutions for high throughput enzyme screening. Its product range includes a dyed chromogenic polymer, and hydrogel substrates like CPH-amylopectin, CPH-β-glucan, and CPH-galactomannan. Kits include a standard 96-well CPH kit, Multi-CPH kits which include multiple substrates in the same 96-well plate, and ICB substrate kits.
| Data Point | Key statistics |
|---|---|
| Expected Market Value in 2023 | US$ 4.2 Billion |
| Projected Market Value in 2033 | US$ 7.4 Billion |
| Growth Rate (2023 to 2033) | CAGR of 5.8% |
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According to the latest research by Future Market Insights, the Enzyme Substrates market is set to witness steady growth during 2021-2031. A substrate is a substance that binds with an enzyme (A chemical that is produced by living cells), which leads to a chemical reaction after the formation of the enzyme-substrate complex takes place.
Enzyme substrates like 2-Deoxy-D-glucose and Hemopressin (human, mouse) are some of the most rated and advanced types of Cannabinoid R1 / CB1 Inverse Agonists. Various types of substrates can be utilized for the detection of different enzymes due to which high demand and market opportunities are expected in near future with a stable CAGR during the forecast years (2021-2031).
Evolving end-user demand in research and development activities continues to drive demand for Enzyme Substrates. Gain of interest among people for applications like ELISA, Western Blotting, and much more lead to the beneficial growth of sales for Enzyme Substrates manufacturers.
In addition to traditional applications, the substrates and enzymes can be used in many areas of life science, like in detection systems and the substrate used is called detection substrate. Enzyme Substrates are being increasingly sought-after due to their high specificity and economic convenience.
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Since the outpeak of the pandemic, there has been a rise in the sales of Enzyme substrates due to its high demand in the research and development activities and life science-related studies which are expected to grow even more in the forecast years.
For an instance, FRET (fluorescence resonance energy transfer) assay was used for the diagnosis of SARS-CoV-2 after the peptide substrate screening, new instances like such, act as key demand drivers for the growth of the market.
The USA is one of the largest markets for Enzyme Substrates globally. The USA Enzyme Substrates market is set to grow in a very positive pattern during the assessment period 2023 to 2033. Demand for Enzyme Substrates in the USA and Canada will be led by several end-user industries like pharmaceuticals, food, and beverage, along with personal and skincare which are present in the key producing countries.
USA Enzyme Substrates sales will also be improved by the research and development activities in 2021, various industrial applications of enzyme substrates also act as the key driving factor.
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Europe emerges as the second-largest producer of Enzyme substrates market due to the presence of crucial medicinal, pharmaceutical and cosmetics industries. The presence of key producers like GlaxoSmithKline plc., Hoffmann-La Roche Ltd., Novartis AG, Merck KgaA, and so on are expected to act as driving factors of this market during the forecast period (2021-2031).
Some of the leading manufacturers and suppliers of Enzyme Substrates include
For an instance, as per an article by NCBI, the utilization of bio-catalysis in pharmaceutical industries due to easy access to the enzymes and ability to engineer them, various benefits of biocatalysts are expected to increase the market value in the end due to their demands and opportunities in industrial biocatalytic processes.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Enzyme Substrates Market
