Biocatalysis and biocatalyst are the biological processes and compounds which help to speed up the reaction process. In biocatalysis, enzymes perform the chemical reactions as a natural catalyst on organic compounds. Enzymes from living cells are used for performing this catalysis. Biocatalysts are highly used as a replacement for chemical catalysts owing to the non-toxic by-products unlike chemical catalysis. This makes the process cleaner and removes the further clean up processes to remove the toxins.
Biocatalysts are biological molecules which enables enzymes to function in milder conditions which indicates that the substrate and the product molecules do not require to be protected during biocatalysis. Additionally, the enzymes can be modified easily by protein engineering to enhance its performance during reaction.Low cost and environment friendly nature of biocatalysis and biocatalyst is replacing the chemical synthesis and is expected to drive the growth of the biocatalysis and biocatalyst market during the forecast period.
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. CLICK TO DOWNLOAD SAMPLE REPORT
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.
Rapid research and developments process in pharmaceutical and biotechnological industries are boosting the market of biocatalysis and biocatalyst market. High government concerns and investments have made R&D flexible and develop more cures in pharmaceuticals and other medical sections. Additionally, rising research in biofuels owing to replace traditional fuels with application of biocatalysts is probable to project a positive impact on the market during the forecast period. Moreover, the government initiatives to fund research and development institutes are widening the demand for biocatalysis and biocatalysts in the market.
Latest technological advancements and R&D has replaced the conventional chemical catalysts which harm the environment during their application. These biocatalysts cause no harm to the environment owing to their biological origin and thus, are environment friendly. These awareness for environment has anticipated the growth of the biocatalysis and biocatalysts market. Additionally, these biocatalysts are being highly used in food and beverages for production. These biocatalysts are gaining popularity in food and beverage sector on the account of consumer awareness and healthy food habits which is expected to propel the growth of the market during the forecast period.
Lack of proper adequate regulations for biocatalysts and availability of synthetic enzymes are not meeting the demands in the market. Thus, it is expected to dampen the growth of market in the coming future.
Our-in depth analysis of the global Biocatalysis and biocatalyst market includes the following segments:
On the basis of regional analysis, global Biocatalysis and biocatalyst market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America and Europe are expected to lead the market for Biocatalysis and biocatalyst during the forecast period on account of its high R&D in pharmaceuticals and bio fuels. Additionally, adaption of biofuels in these regions for reducing pollution are expanding the growth of the market. Moreover, health awareness coupled with high disposable income by the consumers in these regions are driving the growth of the Biocatalysis and biocatalyst market. The growing advancements in healthcare department supported by government investments are expected to foster the growth of the biocatalysis and biocatalysts in the market during the forecast period.
Asia Pacific is the fastest growing region in Biocatalysis and biocatalyst market owing to high application of pharmaceutical products, high investment in medical R&D and adaption of biofuel. Moreover, the rise in food and beverage habits with increasing consumer awareness for healthy food are anticipated to rise the demand for Biocatalysis and biocatalyst market during the forecast period. Furthermore, the growing population and increasing GDP in the economies such as China, India, Japan and others are expected to fuel the market demand for biocatalysis and biocatalysts market during the forecast period.
Global Biocatalysis and biocatalyst market is further classified on the basis of region as follows:
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