Asparaginase Market: Current Analysis and Forecast (2022-2028)

Report Description

The asparaginase market was valued at USD 667 Million and is expected to grow with CAGR of 16% during the forecast year (2022-2030).  The rising incidence of leukaemia and the significant growth in the pharmaceutical and food industry are the major factors boosting the market. Asparaginase is a naturally occurring substance that is present in mammals, birds, yeast, plants, and different types of bacteria but Entero Bacteriaceae family microorganisms are one of the primary sources of L-asparaginase production. Additionally, there is various research going on for the expansion of its application area in different industries, such as nanomedicine, biomedical engineering, and many more, which is contributing to the market growth. In addition, market players are collaborating on the production of asparaginase, which is being used as an active pharmaceutical ingredient in the pharmaceutical industry. Governments of various countries and asparaginase producers are investing heavily in the R&D of asparaginase, which is further expected to contribute to market growth in the coming years.

Some of the major players operating in the market include Jazz Pharmaceuticals plc, Servier Pharmaceutical LLC medac GmbH, Kyowa Kirin co, ltd., Taj Pharmaceuticals Limited., Creative Enzymes., Bio Vendor R&D., Gennova Biopharmaceuticals Limited., Actiza Pharmaceutical Private Limited, Porton Biopharma

Insights Presented in the Report

“Amongst by type, the Escherichia coli segment held a dominating share of the market in 2021”

Based on type, the market is segmented into Escherichia coli, Erwinia chrysanthemi, and Pegylated. Amongst these, the Escherichia segment dominated the market in 2021. This is because of its application in the treatment of acute lymphoblastic leukemia ALL. Furthermore, the prevalence of acute lymphoblastic lymphoid has increased over the period. For instance, in 2023, the United States reported 6,540 cases of ALL.

“Amongst application, acute lymphoblastic leukaemia held the majority share of the market in 2021”

By application, the market is segmented into acute lymphoblastic leukaemia to capture the majority share of the asparaginase market in 2021. The major share of acute lymphoblastic leukaemia can be attributed to increased risk of developing ALL, in the pediatric population especially children under years of age. According to data published by the American cancer society in 2021, nearly 5,960 new cases of ALL were reported in the U.S., thus an increase in the prevalence of ALL is anticipated to fuel the market growth in the forecasting period.

“Amongst end-use industry, the Hospital segment held the majority share of the market in 2021”

By End-use, the hospital will be sharing the majority market share in 2021. The factors for this segment’s growth include the rising activity of mergers & acquisitions, partnerships, and collaborations. Such activities paved the way for the expansion of business and the customer base of market players. For instance, in April 2021, Serveir completed the acquisition of Agios Pharmaceutical USD 2 billion plus royalties, including a commercial, clinical, and research-stage oncology portfolio. This acquisition strengthened Servier commercial presence in the U.S. malignancy haematology market and provides the potential for long-term growth in the solid tumor space.

“Asia Pacific dominated the Asparaginase market in 2021”

Asia Pacific dominated the asparaginase market in 2021 and is anticipated to grow with significant CAGR during the forecast period, owing to factors, including the increase in Research & Development activity for ALL in this region which is anticipated to boost the market growth positively. For instance, in India, in March 2021, the Indian Institute of Technology IIT Indore developed a new protein, an engineering approach, to treat lymphoblastic lymphoma with acute side effects.

Asparaginase Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Asparaginase market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Asparaginase Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global asparaginase market were the three major steps undertaken to create and analyze the adoption of asparaginase in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global asparaginase market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the asparaginase market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the asparaginase market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as application, product and end-use Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the asparaginase market. Further, we conducted factor analysis using dependent and independent variables such as application, product and End use of the Asparaginase market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the asparaginase market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global asparaginase market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the asparaginase market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global asparaginase market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global asparaginase market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, application, and end-use in the global asparaginase market.

The main objective of the Global Asparaginase Market Study

The current & future market trends of the global asparaginase market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the asparaginase market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the product, application, end-use
• Define and analysis of the regulatory framework for the asparaginase industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviours of the industry
• Analyze the current and forecast market size of the asparaginase market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the asparaginase market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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