Drug Metabolizing Enzyme Market
Number of pages: 100 | Report Format: PDF | Published date: May 05, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
CAGR |
7.4% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Type, Application, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global drug metabolizing enzyme market is expected to register a revenue CAGR of 7.4% during the forecast period from 2023 to 2031
Drug Metabolizing Enzyme Market Fundamentals
The drug metabolizing enzymes market is a segment of the pharmaceutical industry that focuses on the development and commercialization of drugs that are metabolized by enzymes in the body. These enzymes are essential for the pharmacokinetics (absorption, distribution, metabolism, and elimination) of medicines. Drug metabolizing enzymes can be classified into several categories, such as cytochrome P450 enzymes, UDP-glucuronosyltransferases (UGTs), and sulfotransferases (SULTs), among others. The metabolism of pharmaceuticals and their effectiveness or toxicity can be impacted by the induction or inhibition of these enzymes, which can be caused by other medications or environmental variables. Drug-metabolizing enzymes are made in the liver, while they are also present in other organs like the kidneys and intestines. They oversee converting medicines into metabolites so that the body may get rid of them through feces or urine.
The research study on the drug metabolizing enzyme market overview thoroughly analyzes the market and the aspects that either help or hinder the market's growth, such as its drivers, challenges, and opportunities. The research also discusses the list of businesses that operate in this market and their efforts to establish themselves as major players through expansion plans and innovative ideas. It also emphasizes current events that support the market's revenue expansion. The research also analyses how the COVID-19 pandemic has affected society.
This report is a valuable tool for the industry stakeholders to gather all the information about the market, customers, and competition. The report also provides the readers with valuable insights on the segmentation, regions, market size & forecast, revenue CAGRs, and other valuable data to help make informed strategic decisions. The study compiles information gathered from industry participants and specialists across the industry value chain. The report also taps into the qualitative and quantitative assessments by industry analysts. Our reports use different methods for estimating the market size and forecast, including secondary research, surveys and interviews, and statistical modeling. With these steps, our reports provide the most accurate market data. These datasets will cumulatively provide in-depth drug metabolizing enzyme market forecasts to the industry stakeholders.
Drug Metabolizing Enzyme Market Dynamics
The drug metabolizing enzyme market is primarily driven by factors such as the increasing prevalence of chronic diseases, growing demand for personalized medicine, and technological advancements in drug discovery and development. The rising incidence of chronic diseases such as cancer, cardiovascular diseases, and diabetes is one of the primary drivers of the drug metabolizing enzyme market. These diseases require personalized treatment, which can be achieved using drugs metabolized by specific enzymes. The demand for personalized medicine is rising, and drug metabolizing enzymes are crucial in this area. By understanding a patient's genetic makeup and metabolic profile, physicians can tailor treatment plans to the individual's specific needs, improving efficacy and reducing adverse effects.
However, developing new drug metabolizing enzymes and related technologies can be costly, requiring significant investments in research and development. This can limit the availability of resources for small companies and startups, making it difficult for them to compete with larger, more established companies.
Drug Metabolizing Enzyme Market Ecosystem
Drug Metabolizing Enzyme Market, by Type
Drug Metabolizing Enzyme Market, by Application
Drug Metabolizing Enzyme Market by Type
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The cytochrome P450 enzyme accounts for the largest global drug metabolizing enzyme market revenue share. CYP enzymes are a family of enzymes that metabolize a wide range of drugs, environmental toxins, and other compounds in the body. The market for CYP enzyme products is driven by various factors, including the growing prevalence of chronic diseases, increasing demand for personalized medicine, and the need for more effective and targeted therapies with fewer side effects.
Segmentation of the market refers to the division of the industry into subgroups based on factors such as product, technology, services, end user, etc. Market segmentation data helps businesses to understand the preferences and unique needs of different customer groups and develop targeted sales strategies. This information also helps in identifying potential Drug Metabolizing Enzyme market growth opportunities.
Drug Metabolizing Enzyme Market by Region
North America accounts for a significant share of the global drug metabolizing enzyme market. The market in North America is driven by several factors, including the high prevalence of chronic diseases, increasing demand for personalized medicine, and a well-established pharmaceutical industry. Factors such as the increasing focus on drug discovery and development, the growing trend of outsourcing drug development services to contract research organizations (CROs), and the availability of government funding for research and development are some of the market's key drivers. Some major players in the North American drug metabolizing enzyme market include Thermo Fisher Scientific, Merck KGaA, BD Biosciences, Promega Corporation, and Absorption Systems LLC, among others. Regarding drug metabolizing enzymes, these businesses provide a variety of goods and services, such as assay kits, screening solutions, and customized enzyme synthesis. Furthermore, several academic and research institutions in North America are actively engaged in developing and researching drug metabolizing enzymes, which furthers the market's expansion in the region.
The drug metabolizing enzyme market in the Asia Pacific region is expected to grow significantly in the coming years. This is driven by factors such as the increasing prevalence of chronic diseases, growing demand for personalized medicine, and a rising pharmaceutical industry in the region.
Based on the regions, the global drug metabolizing enzyme market is segmented into:
Regional demarcation of the industry will provide information on geographic pockets regarding drug metabolizing enzyme market outlook, size, share, and growth rate. This data helps businesses evaluate the expansion potential into new regional markets, understand the competitive threats across different regions, and develop localized sales and expansion strategies.
Key Components of the Report
Drug Metabolizing Enzyme Market Competitive Landscape
The market competitive landscape is performed by collecting and analyzing information about the key competitors, the present industry trends, and market dynamics. It includes information collection and analysis on factors such as products, pricing, geographic outreach, customer demographics, marketing strategies, and recent developments. Competitive landscape assessment will help businesses identify the current prevalent or potential opportunities and threats keeping in mind the Drug Metabolizing Enzyme industry trends.
Drug Metabolizing Enzyme Market Strategic Developments
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Reasons to Buy this Report
Mixed-function oxidases, also known as monooxygenases, or enzymes that metabolize drugs, include cytochrome P450, cytochrome b5, NADPH-cytochrome P450 reductase, and other enzymes. Each cytochrome isozyme reacts to external substances differently regarding its induction and inhibition. The hepatic cytochrome P450s (Cyp) are a multigene family of enzymes essential for the metabolism of numerous medicines and xenobiotics.
The expected revenue CAGR of the drug metabolizing enzyme market will be 7.4% during the forecast period.
Asia Pacific region is expected to have the largest drug metabolizing enzyme market size during the forecast period from 2023 to 2031.
The growing demand for personalized medicine tailored to individual patients based on their genetic makeup is expected to drive the demand for drug metabolizing enzymes.
The market growth may be hindered by factors such as excessive costs associated with drug metabolizing enzyme assays, the lack of standardized assays for drug metabolizing enzymes, and the complex nature of drug metabolism pathways.
Key players are launching new products or acquiring companies to expand their product portfolio and gain a larger market share. For instance, in 2020, Sekisui Medical Co., Ltd. launched a new panel of human drug metabolizing enzyme assays for in vitro research applications.
BioIVT LLC, Novartis AG, Pfizer Inc., Thermo Fisher Scientific Inc., and Promega Corporation are the key players in the global drug metabolizing enzyme market.
The cytochrome P450 enzyme accounts for the highest share in the global drug metabolizing enzyme market based on type.
*Insights on financial performance are subject to the availability of information in the public domain