US enzyme demand to reach US$2.2bn in 2019
In more mature industrial markets, efforts to reduce energy and water use will continue to have a positive impact on enzyme demand
Enzyme demand in the US is forecast to increase by 3% per year to US$2.2bn in 2019. Healthcare reform and efforts to combat rising healthcare costs will lead to changes in the medical and pharmaceutical industries that, in turn, will result in strong gains in enzymes used in the research and biotechnology, in vitro diagnostics and biocatalyst markets.
In more mature industrial markets, efforts to reduce energy and water use will continue to have a positive impact on enzyme demand. These and other trends are presented in Enzymes, a new study from The Freedonia Group.
Strong growth in research and biotechnology enzyme demand will result from pharmaceutical companies looking to improve production processes by using biocatalysts and investing in the development of new biopharmaceuticals.
According to analyst Christine O’Keefe: ‘Increased diagnostic testing and genome sequencing in support of a personalised medicine approach, along with greater testing as a result of more insured people undergoing routine medical care and the generally increased medical care required by an ageing population, will further drive enzyme demand.’
An increasing focus on sustainability by many companies will continue to support enzyme demand in otherwise mature industries such as food and beverage processing and pulp and paper production. Sustainability and personal environmental impact are becoming increasingly important to consumers as well.