Trypsin is a proteolytic enzyme that helps to break down proteins in the digestive system. As an integral part of pancreatic juices, trypsin works with other enzymes including chymotrypsin and amylase, to hydrolyze peptide bonds of proteins into smaller polypeptides and eventually free amino acids that can be readily absorbed by the body. Trypsin has applicability in many industries from pharmaceutical to food processing. In the pharmaceutical industry, the demand for trypsin is increasing due to its widespread usage in manufacturing of vaccines and IVF treatments. Proteases like trypsin are extensively used in vaccine production for cell disruption. Trypsin is also an important enzyme in the process of in vitro fertilization (IVF).
The global Trypsin market is estimated to be valued at US$ 46.72 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The mounting demand from the pharmaceutical industry has boosted the growth of trypsin market. According to research, over 4 million treatment cycles are carried out annually worldwide and the number is increasing at a significant pace driven by growing healthcare spending and increasing acceptance of IVF procedures. The increasing cases of pancreatitis and pancreas disorders have also augmented the demand for trypsin enzymes. Moreover, due to increasing awareness about diseases, there is surge in demand for early detection through research and development, propelling the growth of trypsin market. However, limited shelf life of proteolytic enzymes including trypsin due to denaturation at high temperatures is a major challenge for the market players. Companies are engaged in extensive R&D for developing temperature stable formulations of enzymes.
Porter's Analysis
Threat of new entrants: The threat of new entrants is low as trypsin market requires high initial capital investment for research and development. Additionally, established players have significant brand awareness and customer loyalty.
Bargaining power of buyers: The bargaining power of buyers is moderate. There are numerous established suppliers in the industry providing buyers with a variety of options. However, switching costs are relatively low.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Key raw materials are commoditized which limits the supplier power. However, a few manufacturers control bulk of the global supply.
Threat of new substitutes: Threat of new substitutes is low as trypsin has proven efficiency and is difficult to substitute in applications such as food processing.
Competitive rivalry: The trypsin market features many global and regional players competing on the basis of product quality and pricing.
Key Takeaways
The Global Trypsin Market Share is expected to witness high growth over the forecast period supported by wide industrial applications. Growing end-use industries such as food processing and healthcare are expected to propel market demand. The global Trypsin market is estimated to be valued at US$ 46.72 Mn in 2023 and is expected to exhibit a CAGR of 8.4% over the forecast period 2023 to 2030.
Regional analysis: North America region currently dominates the global trypsin market owing to well-established food processing and pharmaceutical industries. However, Asia Pacific is expected to witness fastest growth during the forecast period supported by rising incomes, growing health awareness and developing industrial infrastructure in major countries such as India and China.
Key players: Key players operating in the trypsin market are De Monchy Aromatics Limited, AOS Products Private Limited, TriVita, Inc., Edens Garden Inc., Prime Natural Beauty, and Phyto Life Sciences P. Ltd. The market remains moderately consolidated in nature with top players focusing on expanding production capacity and new product launches.
For more insights, Read- https://www.insightprobing.com/trypsin-market-demand-share-analysis/
Recombinant Trypsin Solution Industry research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period.
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