The Business Research Company’s Diagnostic Enzyme Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON , UK, May 12, 2021 /EINPresswire.com/ — 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 about the function of enzymes and allow physicians to understand the key determinants of the relationship between protein structure, function, and evolution in terms of catalysis of reaction steps of an enzyme. For instance, companies such as BioMarker have invested in AI and machine learning for enzyme diagnostics.
Other diagnostic specialty enzymes market trends include mergers and acquisitions. In June 2020, Codexis, Inc., a US-based protein engineering company and developer of high-performance enzymes, and Alphazyme LLC, a US-based company in the development and manufacture of nucleic acid metabolizing enzymes, announced a co-marketing enzyme supply collaboration agreement for the production and co-marketing of enzymes for life science applications, including diagnostics. This collaboration is expected to leverage the experience and industry knowledge of Alphazyme to accelerate the market introduction of Codexis’ portfolio of high-performing life science and diagnostic enzymes, while providing Alphazyme exclusive manufacturing and co-marketing rights to CodeEvolver®-improved enzymes. This partnership will allow both companies to jointly promote and sell these enzymes to innovators in life science and diagnostic markets.
Major players in the diagnostic enzymes market are Genzyme, Roche, Codexis, Aldevron, Kaneka Eurogentec, Vigene Biosciences, Amano Enzymes, Advanced Enzymes Technologies, Thermo Fisher Scientific, and EKF Diagnostic.
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The global diagnostic enzyme market is expected to grow from $3.23 billion in 2020 to $3.53 billion in 2021 at a compound annual growth rate (CAGR) of 9.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The diagnostic enzymes market size is expected to reach $4.44 billion in 2025 at a CAGR of 6%. Countries with diagnostics enzymes market shares covered in the report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The diagnostic enzymes market covered in this report is segmented by product type into carbohydrases, polymerases and nucleases, protease, others, by source into animals, microorganisms, plants, and by application into biocatalysts, diagnostics, pharmaceuticals, research & biotechnology.
Diagnostic Enzyme Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides diagnostic enzyme market overview, forecast diagnostic enzyme market size and growth for the whole market, diagnostic enzyme market segments, and geographies, diagnostic enzyme market trends, diagnostic enzyme market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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