The North America medical enzymes market is predicted to progress with a CAGR of 6.34% during the forecasted period of 2022 to 2030. Some of the top drivers propelling the region’s market include the increasing number of chronic conditions, the rise in enzyme therapies, the growing investments in research and development, and the surging awareness about health as well as food and supplements.
The North America medical enzymes market growth assessment constitutes the study of Canada and the United States. Technological developments, in addition to a significant manufacturing capacity as well as strong investments in enzyme advancements, are primarily ascribed to the market growth in Canada. As per a report issued by the World Health Organization (WHO), the two main causes of death in the country are cardiovascular disease and cancer. In this regard, according to the projections by the Canadian Cancer Society, in 2021, 118,200 men in Canada were estimated to be diagnosed with cancer, out of which 44,600 would die. Hence, medical enzymes utilized in the treatment of such diseases are anticipated to observe high demand in Canada.
On the other hand, with the rise in per capita income and improved medical awareness, the expenditure on healthcare is increasing. For instance, according to industry estimates, the gross domestic product per capita in Canada reached $48029.34 in 2021, compared to over $43814 in the previous year. As a result, these factors are set to influence the North America medical enzymes market growth over the forecasted years.
Key players operating in the market are DuPont, Novus, Codexis, etc.
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