The catalytic effect of enzymes in biochemical reactions involves significantly increasing the reaction rates by lowering the activation energy required for the reactions to proceed. Enzymes are highly specific biological catalysts that bind to substrates and facilitate chemical transformations without being consumed in the process. By providing an alternative reaction pathway and stabilizing the transition state, enzymes enable reactions to occur more efficiently and under milder conditions than would otherwise be necessary. Enzymes play vital roles in various physiological processes, including digestion, metabolism, and DNA replication, making them essential for life.