Global Asparaginase Market Is Primarily Driven By High Use Of Acute Myeloid Leukemia Across The Globe (2022-2031) | Taiwan News | 2021-09-16 13:19:39
Market.US announces publication of its most recently generated research report titled, “ Global Asparaginase Market by Source (Escherichia ColiErwinia, Chrysanthemi, Pegylated), By Application (Acute Lymphoblastic Leukemia, Acute Myeloid Leukemia, Other Applications), and by Region – Global Forecast to 2030”, which offers a holistic view of the global Asparaginase Market through systematic segmentation that covers every aspect of the target market.
The global Asparaginase Market is projected to be US$ 389.2 Mn in 2020 to reach US$ 520.2 Mn by 2030 at a CAGR of 3.0%.
Asparaginase is an enzyme separated from different types of bacteria such as Erwinia chrysanthemi and Escherichia coli. During hydrolysis of l-asparagine, these enzymes act as a catalyst to form ammonia and aspartic acid as a byproduct. Asparagine has application in the food industry and medicine manufacturing. Three types of asparaginase present in the market are E. coli-asparaginase, Erwinia-asparaginase, and PEG-asparaginase.
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Asparaginase is widely used in pharmaceuticals for treating cancer patients. The asparaginase catalyzes asparagine in the cells to produce aspartate and ammonia, causing cancer cells’ death. Administration of asparaginase is done subcutaneous, intramuscular, or intravenously.
Acrylamide is carcinogenic in nature, which can be found in root vegetables, biscuits, cakes, and other food products. Allergies, neurological, pancreatitis, problems such as confusion occur among patients due to the repeated use of L-ASP for cancer treatment. New methods such as encapsulation of asparaginase are also expected to increase their efficiency.
In light of the recent COVID-19 outbreak, the manufacturing and supply-chain operations of key industry players have been drastically affected, resulting in decreased outputs. Moreover, the side-effects associated with the usage of asparaginase, such as bone marrow suppression, allergies, pancreatitis, etc., are some factors that are anticipated to negatively impact the revenue growth of this global market in the coming years.
Increasing investments by key players to develop new alternate sources of asparaginase, as well as the methods of drug administration are slated to positively influence market growth of the global asparaginase industry.
The research report on the global Asparaginase Market includes profiles of some of the major companies such as Guangzhou Pharmaceutical Holdings Limited, Kyowa Kirin Co., Ltd., Jazz Pharmaceuticals Plc, Novozymes A/S, Medac GmbH, Changzhou Qianhong Bio-Pharma Co. Ltd., Taj Pharma, United Biotech, JSN Chemicals Ltd.etc.