Diagnostic Enzyme Market Key Drivers, Trends, Growth, Outlook 2024-2033

The diagnostic enzyme market size has grown strongly in recent years. It will grow from $4.02 billion in 2023 to $4.25 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to rising prevalence of chronic diseases, increasing geriatric population, rising healthcare spending, government initiatives, increased awareness of preventive healthcare.

The diagnostic enzyme market size is expected to see strongly grown in the next few years. It will grow to $5.49 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to rising demand for point-of-care testing, growing focus on personalized medicine, rising demand for companion diagnostics, increasing demand for molecular diagnostics, rising demand for in vitro diagnostics, strong growth in the biotechnology industry. Major trends in the forecast period include customized enzyme solutions, automation and robotics, biomarker discovery, digital health integration, sustainability and green enzymes.

Market Overview -
Diagnostic enzymes refer to the enzymes that are employed directly or as part of an assay system to determine the presence or absence of a variety of compounds, and they are used to detect, diagnose, or predict the development of disease conditions. These enzymes are used in diagnosis because of their substrate selectivity and quantified activity when other proteins are present.

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Rise In Geriatric Population For Diagnostic Enzymes Market
The rise in geriatric population is expected to propel the growth of the diagnostic enzymes market going forward. Geriatric population referred to as the elderly or senior population of individuals aged with 65 years and older. Diagnostic enzymes are required for geriatric population for diagnosing and monitoring age-related diseases and they are more susceptible to chronic diseases which require diagnostic enzyme testing. For instance, in October 2022, according to the World Health Organization, a US-based specialized health agency, 1 in 6 people globally will be 60 or older by 2030, and there will be a double number of individuals in this age group (2.1 billion) by 2050. Therefore, the rise in geriatric population is driving the growth of the diagnostic enzymes market.

Competitive Landscape -
Major companies operating in the diagnostic enzyme market include Sanofi S.A., Advanced Enzymes Technologies, Aldevron LLC, Amano Enzymes Inc., Codexis Inc., EKF Diagnostic, Kaneka Eurogentec, Roche Holding AG, Sekisui Diagnostics LLC, Thermo Fisher Scientific Inc., Charles River Laboratories, EKF Diagnostic, Biocatalysts, Merck & Co. Inc., Chr. Hansen, Kerry Group, Dyadic International, Creative Enzymes, Pfizer Inc., Eli Lilly and Company, Bristol-Myers Squibb Company, GlaxoSmithKline plc, Johnson & Johnson, AbbVie Inc., Amgen Inc., Biogen Inc., Gilead Sciences Inc., Regeneron Pharmaceuticals Inc.

Use Of AI (Artificial Intelligence) And Machine Learning In Diagnostic Enzymes Market
The use of machine learning and artificial intelligence is gradually gaining popularity in the enzyme diagnostic market. Artificial intelligence (AI) is the simulation of human intelligence in machines and is programmed to display their natural intelligence. Machine learning is a part of AI. Machine learning and AI help companies in the enzyme diagnostic market to conduct a detailed analysis of all relevant data, provide insights into the function of enzymes, and allow physicians to understand the key determinants of the relationship between protein structure, function, and evolution, in terms of the catalysis of the reaction steps of an enzyme. For instance, companies such as BioMarker have invested in AI and machine learning for enzyme diagnostics.

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Key Segments -
The diagnostic enzyme market covered in this report is segmented -
1) By Product Type: Carbohydrases, Polymerases And Nucleases, Protease, Other Product Types
2) By Source: Animals, Microorganisms, Plants
3) By Application: Biocatalysts, Diagnostics, Pharmaceuticals, Research & Biotechnology

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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