Europe Medical Enzymes Market 2022-2028
MARKET OUTLOOK
Triton Market Research’s study on the medical enzymes market in Europe estimates that it would grow in revenue, with a 6.12% CAGR over the forecasting years 2022-2028. Spain, the United Kingdom, Italy, France, Germany, and Rest of Europe are assessed in the market in this region.
In Germany, cancer and cardiovascular diseases are two leading causes for mortality. Besides, obesity is also a rising concern. The in-vitro diagnostics (IVD) devices are used to detect cancer, cardiovascular diseases, gastrointestinal diseases, and infections for early diagnosis and treatment. Healthcare is affordable in the country and out-of-pocket spending by Germans is low.
The demand for IVD is growing due to the rising prevalence of these diseases. The research and development projects related to IVD and other advanced techniques are expected to influence the demand for medical enzymes. This, in turn, will drive the studied market’s growth in the forthcoming years.
In 2018, chronic diseases were responsible for 92% of the total number of deaths in Spain, with the majority of them being cancers and cardiovascular diseases, as per estimates from the National Library of Medicine. Most of these deaths were attributable to behavioral risk factors, such as low physical activity, dietary risks, alcohol consumption, and tobacco smoking, among others. The rising occurrence of chronic diseases is thus expected to drive the demand for medical enzymes, and thereby foster the growth of the market during the forecast period.
COMPETITIVE OUTLOOK
The primary contenders in the medical enzymes market include Novozymes, Brain Biotech AG, DSM, Advanced Enzymes, DuPont, Amano Enzyme, Roche Holding AG, and Codexis.
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