From my experience, it really depends on the company.
- some may be real blocker (Right to Work and such), and maybe even not mentioned in the requirements
- some may be conditional (my friend applyed for job witch requires Driving Licence. He had none, otherwise was good fit. He was told to obtain it before end of probation time and was given the job. The company helped him (free unpaid days for lessons and such), he made it and he works there a lot of year now, driving with company car every week to deliver something to some customer)
- some may be not problem at all (another friend had not requiered certification for some technology, still got the job. Later was found, that the technology was asked for by customer, who then choose another company to deliver, before the job ad was even published. The requirement was left there anyway, but was not required after all)
- about request for years of experience please read https://workplace.stackexchange.com/a/114304/45217 (which explain, why that sometimes does NOT matter) and also read https://workplace.stackexchange.com/a/1485/45217 (which explains, why that sometimes DO matter)
Then there are also possible (and I know a lot of people, to whom it happened), that you will not pass for the position (say Senior Developer), but you will be offered other position (for you did not read ad and maybe even such ad was not issued at all) - say Junior Developer - as the company was in need of something like one Senior and three Junior Developers, but started with offering just the higher position and then asked those, who does not win the Big Price, if they would like the Smaller Price instead.
It happened often, that for some ad do apply people, who do not have the qualification to the extend needed for the better positon, but have at least something in the same field and meet the requirement set just at lower level, that fits the other position (from company view). And maybe if there would be more adepts quailified for the first position, then the best one would be given the best job and the others would not be turned just away, but offered little lower positions, and maybe some of them would accept (which is better for the company, than somebody skilled just exactly for the lower position ad). But if all non-winners (if there are more fitting adepts at all) would reject the lower position, then there is place for those, who did not met the (higher) requirements.
Also happened to my wife, that she applied for one of three offered positions at some company, even had all the qualification required and would get the position, but for her CV and interview was offered position in totally different part of company, which would fit here much better. There was no opening for such position, as the company did not even hope to get somebody good qualified for that. My wife was pleased with the position too and works there for many years now.
So even if you do not have all those requirements or if you have and do not qualify for the position, there may be some other position opened for you, which was not published - you will never know, if you do not try.