Global Ligase Enzyme Market Expected to Reach $918 Million by 2026
According to a new report published by Progressive Markets Report, titled, "Global Ligase Enzyme Market: Opportunity Analysis and Industry Forecast, 2015-2026," the global ligase enzyme market was valued at $503 million in 2015, and is projected to reach $918 million by 2026, growing at a CAGR of 5.3% from 2018 to 2026.
Ligase refers to an enzyme, which catalyzes the joining of two large molecules such as DNA. This enzyme is extensively used in cloning, mutation detection, gene synthesis, and next-generation sequencing. For instance, certain type of ligases such as DNA ligases are used for DNA repair and DNA replication by formation of covalent phosphodiester bonds.
The major factors that bolster the growth of the global ligase enzyme market include increase in research activities and rise in R&D investments to develop ligases as targets for therapeutic intervention of cancer. Moreover, increase in incidence of birth genetic disorders and infectious diseases is expected to drive the market growth, as ligases find application in the detection of birth mutations and infectious diseases. However, handling and safety issues related to enzymes and constraints pertaining to the chemical & physical properties of enzymes restrain the market growth.
Based on source, the microorganism segment generated the maximum revenue in the global ligase enzyme market in 2017. However, the animal source segment is expected to witness the highest CAGR of 7.0% during the forecast period.
Key Findings of the Ligase Enzyme Market :
- North America occupied nearly one-third share of the global ligases enzyme market in 2017.
- The animal segment is anticipated to grow with the highest CAGR throughout the forecast period.
- Europe is anticipated to occupy more than one-fourth share of the global ligases enzyme therapeutics market by 2026.
- Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA.
North America was the leading revenue contributor to the global market in 2017, owing to increase in applications of ligases in biotechnology and rise in demand for ligases in this region. However, Asia-Pacific is expected to grow at the highest CAGR of 7.4% from 2018 to 2025, owing to rise in awareness about the applications of enzymes in protein engineering.
The report highlights the overview, business performance, key strategic moves & developments, and market share with respect to the key players operating in the market. Major players studied in the report include Novozymes A/S, Koninklijke DSM N.V., DowDuPont Inc., BASF SE, Advanced Enzyme Technologies Ltd., AB Enzymes GmbH, Codexis, Inc., Amano Enzyme, F. Hoffmann-La Roche Ltd., and Thermo Fisher Scientific Inc. Information about the players assists in assessing the competitiveness prevailing in the global ligase enzyme market.
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