Biocatalysis and Biocatalysts Market Trends
Growth drivers
- Surging Adoption in Processed Foods- There has been an increasing substitution of natural bio enzymes for chemical-based additives in processed food. In addition, several research has indicated that the bio preservative added to processed food is better than harmful chemical for digestive health. As per the analysis, more than 60 percent of adults eat ultra-processed foods across the globe.
- Demand for Low-Cost Biological Procedures: - On the back of replacing chemical catalysts and providing low-cost processes in biological activity industries, bio-catalysis, and biocatalysts are expected to drive biocatalysis & biocatalysts market demand over the forecast period. Demand in the market is primarily driven by the lower cost of synthesis and widespread use.
- Increase In Demand for the Pharmaceutical Industry- Increased demand for the medicines used to manufacture pharmaceuticals is boosting the market growth by developing pharmacies globally. As a result of the higher demand for drugs used in the manufacture of pharmaceutical products pharmaceutical industry has performed well over the past years. Changes in clinical practice and increasing concern over chronic disease and aging are driving up the consumption of pharmaceutical products. India's pharmaceuticals biocatalysis & biocatalysts market growth rates, are 40% of generic demand in the US and 25% of all medicines in the UK. revenues in the pharmaceutical industry are growing year on year.
Challenges
- Technical Barriers Affecting Industry; -Bio catalysis is an enzyme that speeds up the chemical process by using biomolecules. A moderate reaction and very selective conditions are present. Biocatalysts are therefore a significant factor in the chemical industry, and their importance for industrial uses is increasing. However, the exact structure of biocatalyst proteins is difficult to find. This process takes time to complete, requiring a larger number of catalysts in order for the reactions to take place.
- Less adequate regulations
- High Cost for Research and Development
Biocatalysis & Biocatalysts Market: Key Insights
The global biocatalysis and biocatalyst market is observing vibrant growth on account of increasing demand for environment friendly catalysts thereby driving the demand of biocatalysis and biocatalyst. Advances in pharmaceutical industry in the past few years and growing technological explorations are projected to drive biocatalysis and biocatalyst market along with growing R&D and rise in Government funding. Among the applications, food and beverage will also contribute highly on the account of high adaption of healthy food habits by the consumers across the globe.
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As per IFPMA, U.S. has registered 17.1% growth in investment of R&D in pharmaceuticals which is growing down the period 2013-2015 reaching USD150 billion in 2015. This high R&D in pharmaceutical are growing the demand for biocatalysis and biocatalysts which is expected to rise the market demand during the forecast period. Biocatalysis and biocatalyst market is anticipated to record a CAGR of 7.8% over the forecast period.
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
4.9% |
|
Base Year Market Size (2024) |
USD 669.04 million |
|
Forecast Year Market Size (2037) |
USD 1.24 billion |
|
Regional Scope |
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