Diagnostic Enzymes Market Benefits from a Continual Increase in Chronic Disease Prevalence | Fairfield Market Research Indicates a Push from Personalized Medicine

London, March 08, 2023 (GLOBE NEWSWIRE) — In recent years, there has been an observable increase in the prevalence of chronic diseases such as cardiovascular diseases, cancer, and diabetes, among several others. This has led to a greater demand for diagnostic enzymes. These enzymes are used in diagnostic tests that are used to detect specific biomolecules or diseases. Additionally, there have been several technological advancements in diagnostic techniques such as Polymerase Chain Reaction and Enzyme-Like Immunosorbent Assay (ELISA) have increased the accuracy and sensitivity of diagnostic tests. This has led to a higher demand for diagnostic enzymes. Moreover, a study by Fairfield Market Research has also concluded that a greater level of focus is being channelled toward personalized medicine. Enzymes are used in genetic testing to identify genetic variations that may be associated with drug responses or certain diseases. These aforementioned factors are all expected to positively influence the growth of the global diagnostic enzymes market over the forecast period.

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Insights into Segmental Analysis

The diagnostic enzymes market has been segmented as follows – By Product Type, Application, Source, and Region. Based on the ‘Product Type’ market segmentation, the ‘Polymerase and Transcripts’ sub-segment is expected to account for the majority share of this market owing to their extensive use in molecular diagnostic assays.

Insights into Regional Analysis

Over the forecast timeline, North America is expected to continue to remain the majority market share holder of the diagnostic enzymes industry. This can be attributed to a rise in infectious diseases leading to a higher demand of enzymes, the presence of major manufacturers in the region, and well-established existing infrastructure. The onset of the COVID-19 pandemic led to the FDA approving laboratory-developed diagnostics for emergency use. Additionally, the surge in infectious diseases and cancer in this region is also expected to increase the demand molecular biology, clinical chemistry, and histology procedures. This regional market is followed by those in Europe and the Asia Pacific. However, the Asia Pacific is projected to index the fastest CAGR over the forecast period, with India and China becoming standout examples of high growth. Elements responsible for this include the increase in healthcare spending and R&D initiatives, favourable policies being implemented by respective governments, a sizeable target population, improving healthcare infrastructure, as well as a high rate of unmet clinical needs.

Key Players in the Diagnostic Enzymes Market

Apart from Kaneka Eurogentec S.A., Spark Therapeutics Inc., Aldevron, Biovian, and Brammer Bio, this report will also cover other prominent players in the diagnostic enzymes market, particularly detailing their respective key strategic developments that lend a competitive edge. Some of these other major profiled companies include Genzyme Corporation, Cobra Biologics, FinVector Vision Therapies, Oxford Gene Technology, and Vigene Biosciences Inc.

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Global Diagnostic Enzymes Market is Segmented as Below:

By Product Type

• Carbohydrases
• Polymerases and Nucleases
• Protease
• Others

By Application

• Biocatalysts
• Diagnostics
• Pharmaceuticals
• Research & Biotechnology

By Source

• Animals
• Microorganisms
• Plants

By Region

• North America
• Europe
• Asia Pacific
• LAMEA

Key Elements Included In The Study: Global Diagnostic Enzymes Market

• Diagnostic Enzymes Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value, 2018 – 2021
• Market Value at Regional and Country Level, 2022 – 2029
• Market Dynamics and Economic Overview
• Market Size in Value, Growth Rates, and Forecast Figures, 2022 – 2029
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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