Asparaginase Market Size & Share to See Modest Growth Through 2027

Asparaginase also known as crisantaspase, is an enzyme used in food and pharmaceutical manufacturing. It is one of the medicine in the World Health Organization's List of Essential Medicines, made from bacterial species such as Erwinia chrysanthemi and Escherichia coli. 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. In pharmaceuticals, Asparaginase is used to treat various diseases and disorders such as non-Hodgkin's lymphoma, acute myeloid leukemia (AML), and acute lymphoblastic leukemia (ALL). The North America Asparaginase market accounts for relatively high revenue share, followed by Western Europe Asparaginase market. Whereas, APEJ account for relatively high volume share in global Asparaginase market with significant growth rate.

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Some of the important factor fuelling the growth of global Asparaginase market include growing pharmaceutical and food industry. To counter the same, Asparaginase market players are investing in research and development and production of Asparaginase to meet the regulatory specification with increasing demand. Some macroeconomic factors making a positive impact on global Asparaginase market includes increasing population, the rapid rate of urbanization, and growing domestic income. Major restraining factors for global Asparaginase market are its side effect in human body pancreatitis, mild Bone marrow suppression, anticoagulant factor resulting in the stroke and bleeding, decreases protein synthesis and hypersensitivity or allergic reaction. The trend identified in the global Asparaginase market is mergers and acquisitions between Asparaginase producers and finished product manufacturers such as pharmaceuticals and food. The company manufacturing Asparaginase products has a significant opportunity in regions such as North America, Europe, and Asia Pacific, attributed to high demand for pharmaceuticals across the regions. Companies have a significant opportunity in global Asparaginase market through collaboration with end-users i.e. food and pharmaceutical manufacturers.

By geographies, the global Asparaginase market is segmented into seven regions -- North America, Western Europe, Asia-Pacific except Japan (APEJ), Eastern Europe, Latin America, the Middle East & Africa, and Japan. Among the regions, North America dominates the global Asparaginase market in terms of value, owing to a significant revenue share of the region in the pharmaceutical industry. Western Europe is followed by North America in the global Asparaginase market, attributed to rapidly rising demand for food and beverages across the region. Eastern Europe and Japan also accounts for significant value share in the global Asparaginase market. The APEJ is expected to account for relatively high volume share in the global Asparaginase market, owing to a relatively high growth rate of pharmaceutical and food industry across the globe. Latin America and Middle East Africa is expected to have relatively high opportunity for Asparaginase market players, attributed to high growth rate of the healthcare sector in the regions. Overall, the outlook for the global Asparaginase market will have a positive growth over the forecast period.

Few players of Asparaginase market 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