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Kenneth Research recently added a report on the Global Asparaginase Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that Europe is the second-largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for Global Asparaginase Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Asparaginase Market is valued approximately at USD XXX million in 2018 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2019-2026. Asparaginase is an enzyme which catalzes the hydrolysis of l-asparagine to l-aspartic acid and ammonia. Asparaginase products are isolated from different types of bacteria, namely Escherichia coli and Erwinia chrysanthemi. They inhibit protein synthesis in tumor cells by depriving them of the amino acid asparagine. These are used widely in Healthcare industry and Food manufacturing industry as a medication. It is used to treat acute lymphoblastic leukemia (ALL), acute myeloid leukemia (AML), and non-Hodgkin's lymphoma. It is given by injection into a vein, muscle, or under the skin. A pegylated version is also available. As Asparaginase was approved for medical use in the United States in 1978. It is also on the World Health Organization's List of Essential Medicines, the most effective and safe medicines needed in a health system. Asparaginase is used in the food manufacturing to reduce the formation of acrylamide. Acrylamide is a carcinogen in the starch containing food products such as biscuits and snacks. Thus, the rapidly growing healthcare and food manufacturing industry increase the demand for Asparaginase during the forecast period. As the Food and drinks market in Europe contributed to be the largest manufacturing sector in 2017 with a turnover of USD 1222 billion. The same sector invested USD 3.12 billion in research & development in 2017 which shows a positive sign in the market growth. Further, the rising investments of the market players for the research and development and production of Asparaginase according to the regulatory specification due to the rise in demand further fuels the market growth. However, the side effects of Asparaginase on human body such as mild bone marrow suppression, pancreatitis, anticoagulant factor resulting in stroke and bleeding hinders the market growth.
The regional analysis of global Asparaginase market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the dominant pharmaceutical industry in the region which is the major industry which uses Asparaginase enzyme. Further rising cases of Leukemia in the region propel the market growth. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as increasing population along with increasing disposable income coupled with growing food manufacturing industry would create lucrative growth prospects for the Asparaginase market across Asia-Pacific region.
Major market player included in this report are:
Jazz Pharmaceuticals Plc
Shire Plc
Medac GmbH
Kyowa Hakko Kirin Co., Ltd.
Qianhong Bio-pharma
Taj Pharmaceuticals
Mingxing Pharma
Exova SL Pharma Inc
United Biotech Pvt. Ltd.
Novus Biologicals
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Escherichia Coli
Erwinia Chrysanthemi
Pegylated
By Application:
Healthcare
Food Industry
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2022 to 2031
Target Audience of the Global Asparaginase Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investor
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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Myra Fletcher
Myra Fletcher is a research expert and freelance writer. She is very dedicated to her work and writing. She enjoys writing on current news in any industry and concludes the news with a highly professional report. She has almost 8 years of experience in the same field. She has strong professional skills in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
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