Medical Asparaginase Market Size, Share, Growth, And Industry Analysis By Type (Escherichia Coli, Erwinia Chrysanthemi, And Pegylated) By Application (Acute Lymphoblastic Leukemia, Acute Myeloid Leukemia, And Other), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Medical Asparaginase Market Report Overview

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The global medical asparaginase market size was USD 379.08 million in 2021 and market is projected to touch USD 533.3 million by 2031, at a CAGR of 3.47% during the forecast period.

Asparaginase, also known as medical asparaginase, is a prescription medication used to treat cancer. In particular, it is applied to the management of patients with acute lymphoblastic leukaemia during the chemotherapy treatment phase. Asparaginase often referred to as crisantaspase, is an enzyme used in medicine that is derived from the bacteria Escherichia coli. The product is also used in the food business to stop and minimize the production of the carcinogen acrylamide. Acrylamide is typically present in foods high in starch, such as biscuits and various snacks. Medical asparaginase is currently being studied to see if it also combats other cancer-related disorders in addition to leukemia. It is used to treat leukemia.

Due to the increasing research and development on medical asparaginase, the market for this substance is expanding tremendously. The market is also being driven by the food industry's explosive growth and widespread use of the ingredient and the pharmaceutical industry's growing use of medical asparaginase. Since asparaginase is one of the significant essential medications maintained by the World Health Organization, patients with blood cancer are the main drivers of the medical asparaginase market growth.

COVID-19 Impact: Lack Of Demand Hindered Product Demand

Due to the rigorous lockdown that had been implemented as a response to the virus's prevention during the initial stage of the COVID-19 outbreak, many markets that were present around the world experienced the negative consequences of the pandemic. Governments in numerous nations imposed the lockdown as a preventative step to stop the virus from spreading further, which temporarily halted many industries' normal business operations. During the pandemic, the demand for the treatment of COVID-19-affected individuals was highly prioritized, which also put many other diseases and their treatments on hold. Similarly, due to the suspension of many non-emergency conditions or treatments, there was limited need for medical asparaginase throughout the pandemic.

Latest Trends

"Research And Development Sector To Augment Market Value"

Due to recent developments and technical improvements pertaining to medical asparaginase, the market for this substance is anticipated to experience rapid expansion in the near future and over the forecasted period. The healthcare industry's research and development division is working very hard to make advancements in the use of medical asparaginase. Since medical asparaginase is effective in treating both types of leukemia, researchers are working to develop it as a treatment for other cancers, which is anticipated to increase its market worth.

Medical Asparaginase Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Escherichia coli, Erwinia Chrysanthemi, and pegylated. Escherichia coli segment is expected to dominate the market by type during the market years of 2021-2031.

• By Application Analysis

Based on application, the market can be divided into acute lymphoblastic leukemia, acute myeloid leukemia, and other. The acute lymphoblastic leukemia segment is anticipated to lead the market by application during the forecast period.

Driving Factors

"Increasing Success Of Pharmaceutical Sector Drives Market Development"

The pharmaceutical industry's extensive Research and development effort and expanding applications are the main drivers of the medical asparaginase market's expansion. One of the main drivers of the growth of the healthcare and pharmaceutical industries is the rising investment in the pharmaceutical industry by both significant companies and potential investors. The pharmaceutical industry's prosperity is driving the market for medical asparaginase as well. Acute lymphoblastic leukemia and lymphoblastic lymphoma are two malignancies that the medical asparaginase is proving successful in treating. Additionally, research efforts to expand the product's use in treating other cancers are helping to expand the market for this product.

"Rising Adaption In The Food Sector Proliferates Market Demand"

Due to the always strong demand, the food sector is constantly expanding, particularly the fast food market. The market has grown more due to the emergence of new inventions in the culinary industry, and fried and baked items have greatly expanded their market share. It is widely utilized in the food industry since medical asparaginase is also employed as a preventative measure for carcinogens in starch-containing food and as a primary amino acid for decreasing the sugar in baked and fried food items. The rising demand for baked and fried foods in the food industry is a result of this boosting the market for medical asparaginase.

Restraining Factors

"Various Side Effects Hampers Market Expansion"

When medical asparaginase is used for an extended period, various adverse effects are common, which have slowed the market's expansion. Pancreatitis, severe allergic reactions, problems with blood clotting, kidney problems, excessive blood sugar levels, and liver malfunction are a few of the asparaginase's typical side effects. The side effects of using medicinal asparaginase in excess include fatigue, headache, nausea, musculoskeletal pain, decreased appetite, medication hypersensitivity, abnormal bleeding, and numerous more. End consumers are delaying using the medication due to the extensive list of negative effects, severely impeding the market's success.

Medical Asparaginase Market Regional Insights

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"North America Leads Market Due To High Application"

Due to the increased prevalence of the disease known as leukemia, North America holds the largest medical asparaginase market share. The pharmaceutical and healthcare industries in the area are well-developed, and they use the substance significantly in treating cancer. Despite its flaws, this is vigorously fueling the medical-asparaginase market in the area. The market in the region has expanded due in part to the region's fried food business, which has grown exponentially.

Europe has the second-highest market share for medical asparaginase compared to other regions in the competition. This results from the large number of acute lymphocytic leukemia patients being treated in the European region, driving the market expansion of medical asparaginase. Approximately 790 new instances of leukemia are diagnosed each year in the United Kingdom alone, according to a study conducted by the Cancer Researchers U.K.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Jazz Pharmaceuticals (Ireland)
• Mingxing Pharma (China)
• United Biotech (India)
• Qianhong Bio-pharma (China)
• Medac GmbH (Germany)
• Takeda (Japan)
• Kyowa Hakko Kirin (Japan)
• Exova (United Kingdom)
• Taj Pharmaceuticals (India)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors such as segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.