The lipid bilayer affects enzyme activity in several ways: 1. Localization: Enzymes can be confined to specific regions of the membrane, which enhances their efficiency by increasing the local concentration of substrates. 2. Microenvironment: The lipid bilayer creates a distinct microenvironment that can stabilize transition states and intermediates, thereby lowering the activation energy for reactions. 3. Orientation: The orientation of enzymes relative to the lipid bilayer can affect substrate access and product release.