Enzyme Substrate Industry - Regional Synopsis
North American Market Forecast
North America industry is estimated to account for largest revenue share of 29% by 2037. This is because the region's healthcare sector is expanding together with the food and beverage business, which is driving up demand. The aging of the population and the development of chronic diseases are driving up demand in Canada's healthcare sector. The entire cost of healthcare spending in 2018 was estimated to be CDN$255 billion, growing at a pace of almost 4.2%. Over eleven percent of Canada's GDP is spent on healthcare by the government. The region's enzyme substrate market is anticipated to expand during the projection period due to the existence of additional end-use sectors like skincare, personal care, and pharmaceuticals.
European Market Statistics
Europe's enzyme substrates market is anticipated to hold the second-largest share of 24% during the forecast period. The growing emphasis on sustainability among European firms and customers may affect substrate production techniques. The biotechnology industry is growing rapidly in nations like China and India, providing makers of enzyme substrates with significant potential opportunities. Furthermore, the food and beverage sector is expanding significantly in the market, which is eventually expected to assist the expansion of the enzyme-substrate market. The EU food and drink industry, for example, is one of the biggest manufacturing sectors in the EU, with a turnover of €1.1 trillion and €222 billion in value-added, according to Data & Trends 2021.
