Asparaginase Market Size | Global Analysis and Forecast 2028

Asparaginase Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Escherichia coli, Erwinia chrysanthemi, Pegylated, and Others), Application (Therapeutic, Food Processing, and Others), End-Use Industry (Healthcare and Food Manufacturing), and Geography

  • Report Code : TIPRE00008224
  • Category : Pharmaceuticals
  • Status : Published
  • No. of Pages : 176
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The asparaginase 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.  

Asparaginase is an enzyme that breaks down asparagine. Asparaginase is used as a chemotherapy drug to treat acute lymphoblastic leukemia (ALL), lymphoblastic lymphoma (LBL), and certain other blood cancers. Unlike normal cells, ALL cells are unable to make their asparagine. Therefore, asparaginase stops the cancer cells from dividing and growing. Asparaginase is derived from Escherichia coli, Erwinia chrysanthemi, pegylated asparaginase, fungi, algae, and others.

The global asparaginase market is segmented on the basis of type, application, end-use industry, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. This report offers insights and in-depth analysis of the market, emphasizing on parameters, such as market trends and dynamics, and the competitive analysis of globally leading market players.

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Asparaginase Market: Strategic Insights

asparaginase-market
Market Size Value inUS$ 564.01 Million in 2021
Market Size Value byUS$ 1,575.62 Million by 2028
Growth rateCAGR of 16.1% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
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Lucrative Regions for Global Asparaginase Market

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Market Insights

Significant Growth of Pharmaceutical and Food Industry Boosts global Asparaginase Market

The pharmaceutical and food industry has developed significantly and observed various developments to ensure the high quality of food and pharmaceutical products. According to the European Federation of pharmaceutical industries and associations, North America accounted for 49% of global pharmaceutical sales in 2021, and 63.7% of sales generated from newly launched medicines from 2015 to 2020. Moreover, the pharmaceutical industry is developing at a significant rate, supported by the surge in R&D activities, and an increase in investment in the pharmaceutical industry by market players is further driving the market.

The food industry is constantly expanding with a never-ending increase in food demand. There is also a continuous rise in novel food products. Nowadays, manufacturers focus on the nutritional quantity of food. The consumption of fried and baked food worldwide has increased substantially, and the inclination toward such food items has also surged. Asparaginase is the main amino acid responsible for reducing sugar in fried and baked foods condensed with carbonyl sources.

Type Insights

Based on the type, the global asparaginase market is segmented into Escherichia coli (E. coli), Erwina Chrysanthemi, Pegylated, and others. The Escherichia coli segment held a larger share of the market in 2021, and this segment is anticipated to register the highest CAGR in the market during the forecast period of 2022-2028, owing to the increasing demand for asparaginase derived from E. coli for the treatment of cancer, such as ALL and LBL.

Asparaginase-derived E. coli is used for the treatment of acute lymphoblastic leukemias. Asparaginase E. coli is an enzyme that catalyzes L-asparagine into L-aspartic acid and ammonia. It helps in the production of oxaloacetate needed for cellular metabolism. Asparaginase from E. coli has an antitumor property that is used for the treatment of leukemias. Thus, the demand for asparaginase E. coli for cancer treatment, especially in pediatric patients, is driving the market growth.

Global Asparaginase Market, by Type – 2021 and 2028

pharmaceuticals
Global Asparaginase Market, by Type – 2021 and 2028
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Application Insights

Based on application, the global asparaginase market is bifurcated into therapeutic, food processing, and others. The therapeutic segment held a larger share of the market in 2021, and this segment is anticipated to register the highest CAGR in the market due to its use in the treatment of lymphoproliferative disorders and lymphomas. The segment is further segmented into acute lymphoblastic leukemia, lymphoblastic lymphoma, and others.

Acute lymphoblastic leukemia is a type of blood cancer and bone marrow, which is fatal when untreated. According to Institute for Health Metrics and Evaluation, about 153,000 new cases and 47,600 deaths of acute lymphoblastic leukemia were reported globally in 2019. Thus, increasing cases of acute lymphoblastic leukemia globally are driving the growth of the global asparaginase market.

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.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Application, End-Use Industry, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are Asparaginase?

Asparaginase is an enzyme that breaks down asparagine. Asparaginase is used as a chemotherapy drug to treat acute lymphoblastic leukemia (ALL), lymphoblastic lymphoma (LBL), and certain other blood cancers. Unlike normal cells, ALL cells are unable to make their own asparagine. Therefore, asparaginase stops the cancer cells from dividing and growing. Asparaginase are derived from Escherichia coli, Erwinia chrysanthemi, pegylated asparaginase, fungi, algae and others.

What are the driving factors for the global asparaginase market across the world?

The factors that are driving the growth of the asparaginase market are rising incidences of leukemia and increasing usage applications and significant growth of the pharmaceutical and food industry are the major factors contributing to the growth of the asparaginase industry.

Who are the major players in the asparaginase market across the globe?

The asparaginase market majorly consists of the players, such as Servier Pharmaceuticals LLC, Jazz Pharmaceuticals plc, BioVendor R&D, Creative Enzymes, medac GmbH, Changzhou Qianhong Bio-pharma Co Ltd, United Biotech, Porton Biopharma, and Taj Pharmaceuticals Limited and among others.

What is the market CAGR value of the asparaginase market during the forecast period?

The CAGR value of the asparaginase market during the forecasted period of 2022-2028 is 16.1%

What is the estimated asparaginase market size in 2021?

The asparaginase market is estimated to be valued at US$ 564.01 million in 2021.

What are the growth estimates for the asparaginase market till 2028?

The asparaginase market is expected to be valued at US$ 1,575.62 million in 2028.

Which segment by type led the asparaginase market?

The Escherichia Coli segment held the largest share of the market in the global asparaginase market contributing a market share of 49.78% in 2021.

Which region is projected to be the fastest-growing region in the global asparaginase market?

The Asia Pacific is expected to be the fastest-growing region in the asparaginase market over the forecast period due to increasing prevalence of acute lymphoblastic leukemia, increasing research activities in cancer, and increasing innovative products for treatment of hematological cancers by the market players in the region.

The List of Companies - Asparaginase Market

  1. Servier Pharmaceuticals LLC
  2. Jazz Pharmaceuticals plc
  3. BioVendor R&D
  4. Creative Enzymes
  5. medac GmbH
  6. Changzhou Qianhong Bio-pharma Co Ltd
  7. United Biotech
  8. Porton Biopharma
  9. Taj Pharmaceuticals Limited

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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