Jan 24, 2020 (AmericaNewsHour) -- The global Biocatalysis and biocatalysts market is segmented by type into hydrolases, oxidoreductases, transferases and others; by application into bio fuel, bio pharmaceuticals, detergents, food and beverages and others and by regions. 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 USD 150 billion in 2015 which reflects the high R&D in pharmaceuticals which are growing the demand for biocatalysis and biocatalysts and expected to rise the market demand during the forecast period. Biocatalysis and biocatalysts market is anticipated to record a CAGR of 7.8% over the forecast period i.e. 2019-2027.
The biocatalysis and biocatalysts are anticipated to drive the demand of the market during the forecast period on the account of replacing chemical catalysts and providing a low cost process for industries dealing with biological activities. The low cost of synthesis and widespread application is driving the demand in the market. Additionally, the biocatalysts are environment friendly which led to global adoption of the process and the catalyst which is expected to propel the growth of the market during the forecast period.
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North America and Europe are expected to dominate the market during the forecast period owing to the growth of various application and widespread adoption of biocatalysis and biocatalysts. In these regions, applications such as biofuels, food and beverages, R&D in pharmaceuticals and many more have usage of biocatalysis and biocatalysts which is expected to drive the growth of the market in near future. Additionally, the Asia-Pacific region is anticipated to be the highest growing region on the back of awareness among the consumers for food and beverages. Moreover, numerous countries of Asia Pacific region are indulged in various applications of biocatalysts in pharmaceutical processes which is expected to drive the growth of the market during the forecast period.
Steady Application in Replacing Chemical Catalysts
Biocatalysis and biocatalysts are used as a replacement for the chemical catalysts. The high environmental issues regarding the chemical processes coupled with various health hazards are expected to rise the growth of the biocatalysis and biocatalysts market during the forecast period. The shift in synthesis of products from chemical to biocatalysts has offered low cost and environment friendly behavior. The various applications have no chemical traces or aftereffects owing to the replacement of chemical catalysts. These beneficial properties of biocatalysis and biocatalysts are anticipated to propel the growth of the market during the forecast period.
However, the inadequate availability of regulations for biocatalysts and synthetic enzymes are expected to hinder the market growth further over the forecast period.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
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This report also provides the existing competitive scenario of some of the key players of the global Biocatalysis and biocatalyst market which includes company profiling of DuPont, BASF, Novozymes, Lonza, Royal DSM Lockheed Martin, Codexis, AB Enzymes, Amano Enzymes, Dyadic International, Soufflet. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Biocatalysis and biocatalysts market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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