Download free PDF
Biocatalyst Market - By Source (Animal, Plants, Microorganisms), By Type (Hydrolases, Oxidoreductases, Transferases), By Application (F&B Industry, Cleaning Agents, Biofuel Production, Agriculture & Feed, Biopharmaceuticals) & Global Forecast, 2023-2032
Report ID: GMI5490
|
Published Date: March 2023
|
Report Format: PDF
Download Free PDF
Authors: Kiran Pulidindi, Kunal Ahuja
Premium Report Details
Base Year: 2022
Companies covered: 11
Tables & Figures: 257
Countries covered: 19
Pages: 172
Download Free PDF
Biocatalyst Market
Get a free sample of this report
Get a free sample of this report Biocatalyst Market
Is your requirement urgent? Please give us your business email
for a speedy delivery!
Biocatalyst Market Size
Biocatalyst Market size attained a valuation of over USD 500 million in 2022 and is estimated to exhibit above 6% CAGR from 2023 to 2032 owing to the increasing demand for biocatalysts from the biopharmaceutical industry in manufacturing active pharmaceutical ingredients (API).
The pharmaceutical sector has crossed leaps and bounds in recent years, given the escalating drug development projects and the growing prevalence of chronic and infectious diseases in people of all age groups.
Based on the Indian Economic Survey 2021, the pharmaceutical market in India stood at US$ 42 billion in 2021 and is predicted to register a three-fold growth by 2030, reaching US$ 120-130 billion by 2030. Since bio catalysis is extensively utilized across the pharmaceutical industry to catalyze chemical transformations to suffice the increasing requirements for a growing number of reactions during drug development.
However, the lack of adequate regulations pertaining to the use of other competing technologies and applications may hamper market performance. In addition, limited consumer awareness about biocatalysts may challenge industry progression. In contrast, rising environmental concerns and the increasing penetration of biocatalysts across several industry verticals will favor market progress.
Biocatalyst Market Analysis
Based on type, the overall market size is fragmented into Hydrolases, Oxidoreductases, Transferases, and Others comprising Lysase, Isomerases, and Ligases. The hydrolases segment of the biocatalyst market is slated to be worth USD 430 million by 2032, given the increasing usage of hydrolases in a range of cleansing agents, Food & Beverages, and biofuel production. Besides, the ease of use, broad range availability and high compatibility of hydrolases with organic solvents are some other factors fostering product adoption.
Regarding the source, the biocatalyst market share is classified into Plants, Animals, and Microorganisms. The microorganisms segment is set to expand at over 6% CAGR between 2023 and 2032, attributed to the easy, consistent, and cost-effective production of biocatalysts through microorganisms. Microbial-catalyzed biotransformations retain substantial potential in generating a variety of structurally diversified organic compounds, specifically natural products with intricate structures such as flavonoids, triterpenoids, steroids, sesquiterpenoids, and steroidal saponins. Consistent R&D efforts toward obtaining biologically active molecules with myriad structural features will drive segment share.
Biocatalysts find extensive applications in food and beverages, cleaning agents, biofuel production, agriculture and feed, biopharmaceuticals, and others. The industry revenue from the biopharmaceuticals segment is anticipated to grow at 7% CAGR from 2023 to 2032, owing to the growing usage of biocatalysts resulting in high-quality biopharmaceutical ingredients like proteins, nucleic acids, etc. Additionally, the increasing R&D investments on several drug development projects will further aid segment size.
Geographically, the Europe biocatalyst market is expected to garner USD 280 million in revenues by 2032. Europe is one of the leading pharmaceutical manufacturers globally. In 2020, the region invested an estimated € 39,000 million in R&D, as per the European Federation of Pharmaceutical Industries and Associations. High research and development activities due to advanced technological innovation in the biocatalyst domain is another crucial factor positively impacting the market trends.
Biocatalyst Market Share
Leading companies constituting the competitive landscape of the biocatalyst market are:
Biosyntha Technology LtdParticipatory firms in this business have been focusing on developing cutting-edge innovations to gain a strong foothold globally. For instance, in July 2022, LanzaTech, an innovative Chicago-based Carbon Capture and Transformation (“CCT”) firm that converts waste carbon into sustainable materials such as fuels, packaging, fabrics, and other products, unveiled that it has successfully developed specialized biocatalysts to produce ethylene directly from CO2 in a steady process.
Impact of the COVID-19 pandemic
During the Covid-19 pandemic, pharmaceutical products witnessed the highest demand, and the demand for new drugs is still on the rise, given the recurrence of new COVID-19 variants in various countries. This apart, food & beverage sales registered a record growth during the crisis due to stockpiling buyer behavior and increasing panic buying. With the demand for new drugs and preventive therapies continues to rise across both developed and developing economies, attributed to the growing prevalence of lifestyle diseases and aging population, the biocatalyst industry size will grow considerably over the coming years.
The Biocatalyst market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2018 to 2032 for the following segments:
Click here to Buy Section of this Report
By Sources
By Type
By Application,
By Region