Global Diagnostics Enzyme Market Size

Diagnostics Enzyme Market Analysis

The diagnostics enzyme market is expected to register a CAGR of 6.2% during the forecast period of 2021-2026.

While COVID-19 severely impacted the pharmaceutical and biotechnology sectors for a brief time due to the lockdown scenario, it eventually helped them by an opportunity to make and launch new drugs or vaccines against COVID-19. Many companies are developing COVID-19 vaccines and their adjuvants in a very short time by putting every resource available on their disposable as an imminent threat of COVID-19 looms over the world. The same goes for the diagnostics enzyme manufacturing companies, as they are now busy with several things related to COVID-19, such as COVID-19 diagnostic kits, identification and analysis of the spike proteins, development of new enzyme-based treatment methods, and many other things. For example, after the COVID-19 outbreak, researchers identified SARS-CoV-2 virus binds to an enzyme present in the human body, called angiotensin-converting enzyme 2, which normally regulates blood pressure in the human body (PubMed, July 2020), and now researchers are working on this breakthrough to get the cure for COVID-19. Apart from this, other studies are going on as well.

The major growth factors for the diagnostics enzyme market are the increasing adoption of enzyme-based diagnostic tests, the innovations in diagnostics technologies, new innovations and development in the biotechnology domain, increasing chronic and infectious diseases, and huge funding in R&D for the same. Over the years, the biotechnology sector became one of the fastest-growing markets because of new R&D. For example, clustered regularly interspaced short palindromic repeats (CRISPR) technology opened new gates for recombinant DNA technology in the medical, pharmaceutical, and other sectors. Other factors responsible for the growth of the diagnostic enzyme market are the rise in infectious and other chronic diseases, increasing interest of companies toward the enzyme because of its dynamic functions, and the growing geriatric population, worldwide. As per the United Nation's World Ageing Highlight of 2020, about 727 million people were aged 65 and above, living all over the world, and this number is expected to reach 1.5 billion people by 2050, which may also complement the growth of the diagnostics enzyme market.

The major restraining factor for the growth of the diagnostic enzyme market is the high sensitivity of enzymes toward pH and temperature. Enzymes are proteins that require an optimum condition to be stable and perform their function in two important factors: optimum pH and temperature. A slight difference in these two factors may denature the enzyme leading to no or very poor results from the diagnostic kit. Moreover, in most of the countries except developed countries, the logistics and storage conditions are not as good as they should be to maintain the optimum condition for the enzyme. Another factor is the cost of the enzyme, which is usually very high due to the high cost associated with the production and isolation of the enzyme.