Digestive Enzymes Market Was Valued at USD 789.6 Million in 2021, Rising in the incidence of gastrointestinal diseases

According to Precision Business Insights (PBI) latest report The global digestive enzymes market is expected to be worth USD 853.2 Mn in 2022, growing at a 8.0% CAGR from 2022 to 2028. Global Digestive Enzymes Market by Enzyme Type (Protease, Lipase Carbohydrase, and Others), Origin (Microbial, Animal, and Plant), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) Forecast to 2028. Key player's profiles in the global digestive enzymes market report are Garden of Life, Biotics Research Corporation, Klaire Laboratories, Abbott Nutrition, AbbVie Inc, Allergan PLC, Johnson & Johnson Inc., Amway Corporation, Food State Inc, Matsun Nutrition, Metagenics Inc., Twinlab Corporation, Food State Inc., AST Enzymes, VEMO 99 OOD. An increase in the prevalence population with digestive disorders coupled with surge in the awareness about over the counter digestive supplements are anticipated to propel the growth over the forecasting period. According to a research study, approximately 40% of people are suffering from digestive disorders across the globe. Moreover, rise in R&D for the launch of newer products also immense boost to the market in the near future.

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Animal Origin Dominate the Digestive Enzymes Market:
Animal origin accounted significant market share and it is expected to grow with a CAGR 5.2% from 2022-2028. Due to the comparable pathophysiology of animals and humans, the animal-based enzyme is selected as standard care therapy for many diseases. The pathophysiology of the pancreas in hogs, for example, is quite like that of humans. However, some customers' ethical concerns about animal-origin products are decreasing the revenue growth. Increase in the use of digestive enzymes for various diseases such as pancreatitis, exocrine pancreatic insufficiency, and pancreatic cancer, are important are key factors drive the segment growth. As a result, the rising prevalence of these disorders may have a beneficial impact on market growth.

North America leads Digestive Enzymes Market:
North America holds the leading market share in the digestive enzymes market and it is expected to continue the growth in the coming years. According to the US Census Bureau, in 2018, the geriatric population in the United States was recorded with approximately 52 million. Increase in the use of healthcare OTC products in USA and Canada coupled with well-established distribution channels and presence of huge number of market players are immense boost to the market in the future. In addition, high prevalence of GI disorders, the changing lifestyle, unhealthy eating habits, and high disposable income are contributing to growth of Europe digestive enzymes market.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Digestive Enzymes market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region.

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Detailed Segmentation
Based on the Enzyme Type, the market is segmented into the following:
• Protease
• Lipase Carbohydrase
• Other Enzyme Types

Based on the Origin type, the market is segmented into the following:
• Microbial
• Animal
• Plant

Based on geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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This release was published on openPR.