Asparaginase Market Scope And Analysis

Asparaginase Market Report Scope

End-use Industry Insights

Based on end use, the global asparaginase market is segmented into healthcare and food manufacturing. The healthcare segment held a larger share of the market in 2021. Furthermore, the same segment is expected to register the highest CAGR from 2022 to 2028. The driving factor for this segment's growth is the rising acute lymphocytic leukemia, lymphoblastic lymphoma, and growing research activities.

Inorganic growth strategies witnessed in the market were mergers and acquisitions, partnerships, and collaborations. These activities have paved the way for the expansion of business and the customer base of market players. A few of the recent key market developments are listed below:

• In May 2021, Jazz Pharmaceuticals acquired GW pharmaceutical company to enhance its R&D capabilities. This acquisition will also help the company to develop and commercialize cannabinoid-based prescription medicines.
• In April 2021, Servier completed the acquisition of Agios Pharmaceuticals’ US$2 billion-plus royalties, including commercial, clinical, and research-stage oncology portfolio. This acquisition strengthens Servier’s commercial presence in the US malignant hematology market and provides the potential for long-term growth in the solid tumor space.
• In August 2018, Medac GmBH, in partnership with FarmaMondo SA, will exclusively distribute Spectrila via a Managed Access Program for targeted Healthcare Providers in Russia, Georgia, Azerbaijan, Kyrgyzstan, Uzbekistan, and Moldova. FarmaMondo will manage access to Spectrila for patients with acute lymphoblastic leukemia.

Some of the key players operating in the global asparaginase market include 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.