Asparaginase Market Growth Opportunities, Futur Challenges, Key Players, Trend and Forecast by 2032
Ngày đăng: 14-08-2023 |
Ngày cập nhật: 14-08-2023
The global Asparaginase Market exhibited a significant size of USD 648.6 Million in 2021 and anticipates a robust compound annual growth rate (CAGR) of 16.7% during the projected period. This growth trajectory is underpinned by pivotal drivers such as expanding global population, rapid urbanization, and rising incomes in diverse countries. Nonetheless, the market's revenue expansion might be moderately hindered due to the potential side effects associated with asparaginase, affecting its widespread adoption.
Asparaginase, classified as an enzyme, finds applications in various sectors including food, pharmaceuticals, and more. In the pharmaceutical domain, it serves as a crucial ingredient for manufacturing chemotherapy drugs aimed at treating leukemia and its various forms. Derived from two bacterial sources, namely Escherichia coli (E. coli) and Erwinia chrysanthemi, asparaginase plays a pivotal role in combating the rising instances of leukemia globally. Additionally, the continuous advancements in the biopharmaceutical sector are poised to contribute to the upswing in the global asparaginase market. The burgeoning biopharmaceutical industry in emerging economies further opens up substantial growth avenues.
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As a processing aid, asparaginase holds sway in the food industry by curbing the formation of acrylamide, a potential carcinogen, in starchy edibles like snacks, biscuits, and fried potatoes. A striking example is the use of asparaginase to pretreat potato slices before frying, which can lead to an impressive reduction of up to 81% in acrylamide content in the processed chips compared to untreated counterparts. Noteworthy brand names in this context are Acrylaway and Preventase.
Nonetheless, the market's upward trajectory faces potential setbacks due to undesirable aspects like the side effects linked to asparaginase. These side effects encompass pancreatitis, mild bone marrow suppression, and elevated risks of blood clotting and stroke. Despite these limitations, the escalating incidence of acute lymphocytic leukemia is expected to carve out growth prospects for the global asparaginase market in the forecast period. Leading entities in this sector, including Jazz Pharmaceuticals, Shire, Medac GmbH, and Kyowa Hakko Kirin, boast substantial customer bases, advanced technologies, and patents, placing them at the forefront of the industry's evolution.
Market Dynamics:
Driving Factor: Flourishing Pharmaceutical Industry and Augmented Research & Development (R&D) Ventures Market participants in the asparaginase sphere are actively investing in research and development as well as production endeavors to align with regulatory standards and meet escalating product demands. The surge in FDA approvals is projected to fuel market revenue expansion. A case in point is the approval granted on June 30, 2021, by the FDA for a novel form of asparaginase erwinia chrysanthemi (recombinant)-rywn (Rylaze). This approval aimed to address the ongoing shortage of Erwinia asparaginase and facilitate its usage in treating acute lymphoblastic leukemia (ALL) and lymphoblastic lymphoma (LBL) in children and adults.
Moreover, the year 2022 witnessed Jazz Pharmaceuticals submitting a Supplemental Biologics License Application (sBLA) to the FDA, seeking approval for an intramuscular (IM) dosing schedule for Rylaze. This development is poised to catalyze the treatment of acute lymphoblastic leukemia and lymphoblastic lymphoma in patients with hypersensitivity to E. coli-derived asparaginase. The introduction of such innovative products, followed by their regulatory nods, holds immense potential in bolstering the market's revenue trajectory.
Restraint: Side Effects Linked to Asparaginase The administration of asparaginase injections might lead to a spectrum of adverse effects including allergic reactions, pancreatitis, coagulation abnormalities, elevated blood glucose levels, renal complications, and liver dysfunction. Moreover, its usage during pregnancy could jeopardize the well-being of the fetus. Notable adverse reactions associated with asparaginase erwinia chrysanthemi (recombinant)-rywn comprise atypical liver test results, nausea, musculoskeletal discomfort, fatigue, infections, headaches, fever, drug hypersensitivity, febrile neutropenia, decreased appetite, mouth ulcers, bleeding, and high blood sugar levels. These potential side effects could hinder the widespread adoption of asparaginase and thereby impede the growth of the global market to a certain extent.
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Key Insights:
Source Overview: The global asparaginase market is segmented based on its source, encompassing Erwinia chrysanthemi and Escherichia coli. In this context, the Escherichia coli segment is projected to dominate the market's revenue share during the forecast period. The asparaginase derived from E. coli has demonstrated potent antitumor activities against leukemias. Marketed under diverse trade names, such as Elspar, it finds application in multi-agent chemotherapeutic regimens for the treatment of acute lymphoblastic leukemia. This form of asparaginase is available in both intramuscular and intravenous injections.
Although E. coli-derived asparaginase holds prominence due to its widespread usage in treating childhood acute lymphoblastic leukemia, a considerable subset of patients might experience allergic reactions during treatment.
Distribution Channel Perspective: Distribution channels include hospital pharmacies, online pharmacies, and retail pharmacies. Among these, the hospital pharmacy segment is projected to seize the largest share of revenue during the forecast period. The augmented prescription of medications at hospitals, stemming from heightened diagnostic instances in these settings, underpins the segment's revenue growth.
Online pharmacies are poised to exhibit the highest revenue CAGR due to the convenience and ease they offer. Retail pharmacies, while accounting for a significant revenue share, are likely to be boosted by their prevalence in developing nations.
Regional Analysis: North America commanded the largest revenue share in 2021 and is poised to sustain its dominance over the projected period. The region's revenue growth is propelled by the mounting instances of leukemia. In 2021, the American Cancer Society estimated around 61,090 new leukemia cases in the U.S., further driven by the presence of key market players and the robust demand for enzyme-enhanced food and beverages.
Europe is anticipated to command a substantial revenue share between 2021 and 2030. Notable contributors to this market segment include Germany, the U.K., and France. The rising prevalence of acute lymphocytic leukemia in Europe is likely to buoy demand for asparaginase. The U.K., for instance, records nearly 790 new cases of acute lymphoblastic leukemia annually.
The Asia-Pacific market is set to register the fastest revenue CAGR, fueled by the escalating prevalence of chronic diseases in developing nations such as India, China, Malaysia, and Indonesia. Government investments in encouraging pharmaceutical companies to utilize asparaginase for treating chronic ailments further bolster this region's growth prospects.
Competitive Landscape: The global asparaginase market is fiercely competitive, featuring both emerging and well-established key players. Mergers, acquisitions, and collaborations are common strategies employed by these entities to maintain market dominance. Jazz Pharmaceuticals, Medac GmbH, Taj Pharmaceuticals Ltd., LGM Pharma, Actiza Pharmaceutical Pvt. Ltd., Gennova Biopharmaceuticals, Kyowa Hakko Kirin Co., Ltd., Merck, Servier Pharmaceuticals LLC, and Novus Biologicals LLC are key players in the market.
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Asparaginase, classified as an enzyme, finds applications in various sectors including food, pharmaceuticals, and more. In the pharmaceutical domain, it serves as a crucial ingredient for manufacturing chemotherapy drugs aimed at treating leukemia and its various forms. Derived from two bacterial sources, namely Escherichia coli (E. coli) and Erwinia chrysanthemi, asparaginase plays a pivotal role in combating the rising instances of leukemia globally. Additionally, the continuous advancements in the biopharmaceutical sector are poised to contribute to the upswing in the global asparaginase market. The burgeoning biopharmaceutical industry in emerging economies further opens up substantial growth avenues.
Get a free sample PDF of the report, visit @ https://www.reportsanddata.com/download-free-sample/4306
As a processing aid, asparaginase holds sway in the food industry by curbing the formation of acrylamide, a potential carcinogen, in starchy edibles like snacks, biscuits, and fried potatoes. A striking example is the use of asparaginase to pretreat potato slices before frying, which can lead to an impressive reduction of up to 81% in acrylamide content in the processed chips compared to untreated counterparts. Noteworthy brand names in this context are Acrylaway and Preventase.
Nonetheless, the market's upward trajectory faces potential setbacks due to undesirable aspects like the side effects linked to asparaginase. These side effects encompass pancreatitis, mild bone marrow suppression, and elevated risks of blood clotting and stroke. Despite these limitations, the escalating incidence of acute lymphocytic leukemia is expected to carve out growth prospects for the global asparaginase market in the forecast period. Leading entities in this sector, including Jazz Pharmaceuticals, Shire, Medac GmbH, and Kyowa Hakko Kirin, boast substantial customer bases, advanced technologies, and patents, placing them at the forefront of the industry's evolution.
Market Dynamics:
Driving Factor: Flourishing Pharmaceutical Industry and Augmented Research & Development (R&D) Ventures Market participants in the asparaginase sphere are actively investing in research and development as well as production endeavors to align with regulatory standards and meet escalating product demands. The surge in FDA approvals is projected to fuel market revenue expansion. A case in point is the approval granted on June 30, 2021, by the FDA for a novel form of asparaginase erwinia chrysanthemi (recombinant)-rywn (Rylaze). This approval aimed to address the ongoing shortage of Erwinia asparaginase and facilitate its usage in treating acute lymphoblastic leukemia (ALL) and lymphoblastic lymphoma (LBL) in children and adults.
Moreover, the year 2022 witnessed Jazz Pharmaceuticals submitting a Supplemental Biologics License Application (sBLA) to the FDA, seeking approval for an intramuscular (IM) dosing schedule for Rylaze. This development is poised to catalyze the treatment of acute lymphoblastic leukemia and lymphoblastic lymphoma in patients with hypersensitivity to E. coli-derived asparaginase. The introduction of such innovative products, followed by their regulatory nods, holds immense potential in bolstering the market's revenue trajectory.
Restraint: Side Effects Linked to Asparaginase The administration of asparaginase injections might lead to a spectrum of adverse effects including allergic reactions, pancreatitis, coagulation abnormalities, elevated blood glucose levels, renal complications, and liver dysfunction. Moreover, its usage during pregnancy could jeopardize the well-being of the fetus. Notable adverse reactions associated with asparaginase erwinia chrysanthemi (recombinant)-rywn comprise atypical liver test results, nausea, musculoskeletal discomfort, fatigue, infections, headaches, fever, drug hypersensitivity, febrile neutropenia, decreased appetite, mouth ulcers, bleeding, and high blood sugar levels. These potential side effects could hinder the widespread adoption of asparaginase and thereby impede the growth of the global market to a certain extent.
To know more about the latest insights of the report, visit @
https://www.reportsanddata.com/request-latest-insight/4306
Key Insights:
Source Overview: The global asparaginase market is segmented based on its source, encompassing Erwinia chrysanthemi and Escherichia coli. In this context, the Escherichia coli segment is projected to dominate the market's revenue share during the forecast period. The asparaginase derived from E. coli has demonstrated potent antitumor activities against leukemias. Marketed under diverse trade names, such as Elspar, it finds application in multi-agent chemotherapeutic regimens for the treatment of acute lymphoblastic leukemia. This form of asparaginase is available in both intramuscular and intravenous injections.
Although E. coli-derived asparaginase holds prominence due to its widespread usage in treating childhood acute lymphoblastic leukemia, a considerable subset of patients might experience allergic reactions during treatment.
Distribution Channel Perspective: Distribution channels include hospital pharmacies, online pharmacies, and retail pharmacies. Among these, the hospital pharmacy segment is projected to seize the largest share of revenue during the forecast period. The augmented prescription of medications at hospitals, stemming from heightened diagnostic instances in these settings, underpins the segment's revenue growth.
Online pharmacies are poised to exhibit the highest revenue CAGR due to the convenience and ease they offer. Retail pharmacies, while accounting for a significant revenue share, are likely to be boosted by their prevalence in developing nations.
Regional Analysis: North America commanded the largest revenue share in 2021 and is poised to sustain its dominance over the projected period. The region's revenue growth is propelled by the mounting instances of leukemia. In 2021, the American Cancer Society estimated around 61,090 new leukemia cases in the U.S., further driven by the presence of key market players and the robust demand for enzyme-enhanced food and beverages.
Europe is anticipated to command a substantial revenue share between 2021 and 2030. Notable contributors to this market segment include Germany, the U.K., and France. The rising prevalence of acute lymphocytic leukemia in Europe is likely to buoy demand for asparaginase. The U.K., for instance, records nearly 790 new cases of acute lymphoblastic leukemia annually.
The Asia-Pacific market is set to register the fastest revenue CAGR, fueled by the escalating prevalence of chronic diseases in developing nations such as India, China, Malaysia, and Indonesia. Government investments in encouraging pharmaceutical companies to utilize asparaginase for treating chronic ailments further bolster this region's growth prospects.
Competitive Landscape: The global asparaginase market is fiercely competitive, featuring both emerging and well-established key players. Mergers, acquisitions, and collaborations are common strategies employed by these entities to maintain market dominance. Jazz Pharmaceuticals, Medac GmbH, Taj Pharmaceuticals Ltd., LGM Pharma, Actiza Pharmaceutical Pvt. Ltd., Gennova Biopharmaceuticals, Kyowa Hakko Kirin Co., Ltd., Merck, Servier Pharmaceuticals LLC, and Novus Biologicals LLC are key players in the market.
Request a customized copy of the report @ https://www.reportsanddata.com/request-customization-form/4306
Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs.
Browse for more reports:
Care Management Solution Market
COVID-19 Vaccine Packaging Delivery Device Market
Healthcare Patent Filing Outsourcing Market
Hearing Aids Market
Medical Spa Market
Periodontal Scalers Curettes Market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blogs | Press Release | Industry News | Our competencies
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
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