The diagnostic enzymes market consists of the sales of diagnostic enzymes and related services by entities (organizations, sole traders, and partnerships) that manufacture diagnostic enzymes. Enzymes are extensively used in the diagnosis of various diseases as they have remarkable biocatalytic properties. Only goods and services traded between entities or sold to end consumers are included.
The global diagnostic enzymes market is expected to decline from $3.30 billion in 2019 to $3.14 billion in 2020 at a compound annual growth rate (CAGR) of -4.87%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $3.75 billion in 2023 at a CAGR of 6.02%.
