The Europe medical enzymes market is evaluated to grow with a CAGR of 5.86% during the forecasted period of 2022 to 2030. Key factors strengthening the regional market’s growth are the increasing demand for enzymes in the pharmaceutical sector, the rise in research and development activities, and the growing need for nutraceuticals and dietary supplements following the COVID-19 pandemic.
The Europe medical enzymes market growth evaluation encompasses a detailed assessment of the United Kingdom, Poland, Belgium, Germany, France, Italy, and Rest of Europe. According to industry estimates, France spent more than 11% of its gross domestic product (GDP) on healthcare. Moreover, according to the Organisation for Economic Co-operation and Development (OECD), cancer was the leading cause of death in the country, accounting for 28.5% of all fatalities in 2014, followed by cardiovascular diseases. In this regard, the rise in alcohol and tobacco consumption is the major cause of diseases in France. As a result, the application of enzymes for treating various conditions and diseases is a key driver of the market’s growth in the country.
On the other hand, Italy is one of the first countries to introduce advanced therapies into the European market. With the increase in research in advanced therapies as well as diagnosis, the Italian biotech industry is experiencing rapid expansion. Moreover, investments in research and vaccines have increased in the country, as well. Therefore, the aforementioned factors are expected to propel the Europe medical enzymes market growth over the forecasting years.
Eminent firms operating in the market include BBI Solutions, Sanofi, BASF, etc.
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