According to a new report published by KD Market Insights, titled, “Asparaginase Market Insights, Trends, Opportunity & Forecast, 2023–2032,” the global asparaginase market size is anticipated to witness moderate growth during the forecast period i.e., 2023-2032. The increasing occurrence of acute leukemia (ALL) advancements, in technology the growing use of asparaginase, in cancer treatments and the expanding healthcare industry which are the major factors augmenting the growth of the global asparaginase market. The global asparaginase market is anticipated to grow at a high CAGR of 16.1% from 2023 to 2032. The market's revenue surged to $753 million in 2022, and it is expected to further accelerate, reaching a notable $3.3 billion by 2032.
The increasing occurrence of acute leukemia (ALL) and various other forms of cancer, are further expected to create ample growth opportunities for the global asparaginase market during the forecast period i.e., 2023-2032. Moreover, advancements in technology have resulted in the development of medicine and targeted therapies, which are attracting both cancer patients and healthcare providers, has propelled market expansion. The shift towards combination therapies aligns with the increasing focus, on medicine and targeted therapies, is expected to contribute towards the market growth during the period.
The North America region accounted for the largest share in the global asparaginase market in 2022. The region is further projected to continue dominating in the market during the forecast period. This can be attributed to the emphasis on cancer research and treatment in hospitals and research centers.
According to source, the Escherichia coli segment accounted for the largest market share in the asparaginase market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
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The global asparaginase market is segmented into source, application, route of administration, age group, distribution channel, and region. Based on source, the market is bifurcated into Erwinia chrysanthemi and Escherichia coli. Based on application, it is classified into acute lymphoblastic leukemia (ALL) and lymphoblastic lymphoma (LBL). Based on route of administration, it is classified into intramuscularly, intravenously. Based on age group, it is classified into pediatric, adult. Based on distribution channel, it is classified into hospital pharmacy, online pharmacy, retail pharmacy.
The global asparaginase market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Asparaginase Market
- On the basis of source, the Escherichia coli segment accounted for the largest market share in the asparaginase market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
- On the basis of region, Asia Pacific accounted for the largest share in the global asparaginase market in 2022. The region is further projected to continue dominating in the market during the forecast period.
- On the basis of region, North America is estimated to account for the second largest share in the market during the forecast period.
Some of the major asparaginase companies profiled in the report include Novus Biologicals, Taj Pharmaceuticals Limited, Porton Biopharma, Xiamen Hisunny Chemical Co., Ltd., Jinan Haohua Industry Co., Ltd., Simagchem Corporation, LGM Pharma, Leap Labchem Co., Ltd., Hangzhou J&H Chemical Co., Ltd., Hangzhou Dayangchem Co. Ltd., Gihi Chemicals Co., Limited, Chemos GmbH & Co. KG.
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