Asparaginase Market is expected to reach US$ 1,575.62 Million by 2028

Therapeutic Segment to Hold Largest Share of global Asparaginase Market During 2022–2028

According to our latest study on “Asparaginase Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, and End-Use Industry,” the market is expected to grow from US$ 564.01 million in 2021 to US$ 1,575.62 million by 2028. It is estimated to grow at a CAGR of 16.1% from 2022 to 2028. The report highlights the key factors driving the market and prominent players with their developments in the market.  

North America held a significant market share in the global asparaginase market. The growth is attributed to various factors, such as the rising prevalence of leukemia, lymphoma, and myeloma, along with the rapidly developing food processing industry. Moreover, the presence of major market players in the region and an increase in new product development, product launch, and product approvals are expected to drive the growth of the asparaginase market in the region during the forecast period. Additionally, an increase in research & development activities performed by market players and the rising demand for effective products with reduced side effects are also expected to contribute to the market over the next few years.

Rising Incidences of Leukemia and Increasing Application Usage

Asparaginase is an enzyme, derived mostly from bacteria and has wide application in the food and pharmaceutical industry. Asparaginase is widely used to treat various conditions, such as acute myeloid leukemia, acute lymphoblastic leukemia, non-Hodgkin's lymphoma, and other diseases. Over the period, the prevalence of such diseases has increased significantly, creating a demand for effective treatment options. According to the Leukemia and Lymphoma Society, an estimated 186,400 people in the US were expected to be diagnosed with leukemia, lymphoma, or myeloma in 2021, which is ~9.8% of the total estimated cases of cancer in the US the same year.

L-asparaginase is an important chemotherapeutic agent used to treat lymphoma and leukemia. L-asparaginase breakdown asparagine from blood serum, leading to the death of tumor cells due to the lack of an essential factor for protein synthesis. However, healthy cells are not affected as they can produce asparagine using L-asparagine synthetase, which is present in adequate quantity. Moreover, it is also found to be effective in preventing metastasis from solid tumors.

Asparaginase is a naturally occurring substance that is present in mammals, birds, yeast, plants, and different types of bacteria but Enterobacteriaceae family microorganisms are one of the primary sources of L-asparaginase production. Additionally, various research are going on to expand its application areas in different industries, such as nanomedicine, biomedical engineering, and many more, contributing to the market. Furthermore, increasing allergic reactions from E. coli, derived L-asparaginase has increased the use of E. chrysanthemi-derived L-Asparaginase.

New production methods for asparaginase development include new bacterial strains, such as Pseudomonas fluorescens, Escherichia coli, Serratia marcescens, Erwinia carotovora, Saccharomyces cerevisiae, and Proteus Vulgaris. A few genres of fungi are also used, such as Penicillium, Aspergillus, and Fusarium.

These factors are boosting the global asparaginase market significantly.

Impact of COVID-19 Pandemic on global Asparaginase Market:

The COVID-19 outbreak resulted in dramatic reductions in non-urgent medical services. From 2020 to mid-2021, countries worldwide imposed lockdowns, which delayed hospital visits. Thus, delayed hospital visits have shown a critical impact on health and delayed the diagnosis of various critical conditions, such as cancer, hypertension, and other disorders. Hospitals experienced drastic annual visits and physicals reductions, further slowing market growth. The lockdown has significantly reduced various procedures, which were considered non-urgent services. The lockdown allowed only emergency procedures with stringent preventive measures to avoid spreading the virus. The lockdown also led to the closure of production units, sales, supply chain, and R&D activities for asparaginase. It also delayed product launches planned by the manufacturers for 2019 and 2020 and affected the overall product planning.

Further, the pandemic led to the closure of production units and the food processing industry, which hampered the production of asparaginase and reduced the demand from the food industry. After the launch of the vaccines in 2021, the situation was under control. Governments relaxed restrictions on various services, which created opportunities for the asparaginase market. Thus, the COVID-19 pandemic minimally affected the growth of the global asparaginase market.

Servier Pharmaceuticals LLC, BioVendor R&D, Creative Enzymes, medac GmbH, Changzhou Qianhong Bio-pharma Co Ltd, United Biotech, Porton Biopharma, Taj Pharmaceuticals Limited, and Jazz Pharmaceuticals plc are leading companies operating in global asparaginase market.

Global Asparaginase Market, by Region, 2021 (%)

Based on type, the global asparaginase market is categorized into Escherichia Coli, Erwinia Chrysanthemi, Pegylated, and others. By application, the market is segmented into therapeutic, food processing, and others. Based on end-use industry, the market is segmented into healthcare and food manufacturing. Based on geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of SCAM).

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