The demand within the global market for speciality enzymes has been rising on account of advancements in the field of biotechnology, finds Transparency Market Research (TMR). The presence of a stellar industry for healthcare and diagnostics is a key proposition for growth within the global specialty enzymes market. The market players in the global specialty enzymes market have set on a spree of advocating key marketing hacks. There is stellar demand for better medical research across the globe, and the vendors in the global speciality enzymes market are aiming to utilise this market gap. The presence of a large number of market players with subsidiary mechanisms for marketing is a key trait of the competitor landscape.
The leading vendors in the global speciality enzymes market are projected to acquire the smaller and insignificant vendors. This trend shall result in decreased fragmentation across the global speciality enzymes market. Furthermore, the business landscape of the global speciality enzymes market is expected to become increasingly competitive in the years to come. The presence of a large number of region-specific market vendors in the global speciality enzymes market is also a salient feature of the competitive dynamics. Some of the prominent players in the global speciality enzymes market are Affymetrix Inc., Roche CustomBiotech, BBI Solutions, and Biocatalysts Ltd.
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Transparency Market Research (TMR) finds that the global speciality enzymes market would expand at a robust CAGR of 8.7% over the period between 2017 and 2025. The total value of the global speciality enzymes market is expected to reach US$3,726.4 mn by 2025-end, rising up from a value of US$1,782.0 mn in 2016. On the basis of geography, the market for US$1,782.0 mn in 2016 in North America is projected to accumulate humongous revenues in the years to follow.
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Use of Specialty Enzymes in DNA Sequencing to Aid Market Growth
The global market for specialty enzymes has been attracting commendable demand over the past decade. This majorly owes to the use of specialty enzymes in the field of DNA sequencing and diagnostics. The relevance of DNA testing and research is a key factor that has prompted medical professionals to use specialty enzymes. Furthermore, RNA detection is another key area wherein speciality enzymes play a vital role. Hence, the global specialty enzymes market is projected to emerge as a haven of lucrative growth in the years to follow. The field of biotechnological research has also emerged as a key end-user of specialty enzymes.
Growth in the Field of Molecular Testing to Drive Demand
The use of molecular testing in the field of healthcare research has played a major role in the growth of the global specialty enzymes market. This is because these enzymes are a vital part of the process of molecular analysis, research, and testing. Furthermore, the area of tissue dissociation has also created a plethora of opportunities within the global specialty enzymes market. The market for specialty enzymes in North America has been expanding alongside advancements in the field of medical diagnostics, immunological assays, and biotechnology.
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The review is based on TMR’s report titled, “Specialty Enzymes Market (Application - Research & Biotechnology, and Diagnostics; Product - Protease, Carbohydrases, Polymerases and Nucleases, and Lipase) - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast 2017 – 2025”.
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