Asparaginase Market report explores the huge growth in future scope

The global Asparaginase Market is expected to grow from US$ 564.01 million in 2021 to US$ 1,575.62 million by 2028. It is expected to grow with a CAGR of 16.1% from 2022 to 2028.

The rising incidence of leukemia and the significant growth in the pharmaceutical and food industry are the major factors boosting the market.

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Analysis of the Top Market Players:

1. Servier Pharmaceuticals LLC
2. Jazz Pharmaceuticals plc
3. BioVendor R&D
4. Creative Enzymes
5. medac GmbH
6. Changzhou Qianhong Bio-pharma Co Ltd
7. United Biotech
8. Porton Biopharma
9. Taj Pharmaceuticals Limited

In this report, the market has been segmented on the basis of:

Type (Escherichia coli, Erwinia chrysanthemi, Pegylated, and Others)
Application (Therapeutic, Food Processing, and Others)
End-Use Industry (Healthcare and Food Manufacturing), and Geography

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Asparaginase is a naturally occurring substance that is present in mammals, birds, yeast, plants, and different types of bacteria but Enterobacteriaceae family microorganisms are one of the primary sources of L-asparaginase production. Additionally, there is various research going on for the expansion of its application area in different industries, such as nanomedicine, biomedical engineering, and many more, which is contributing to the market growth. Furthermore, increasing allergic reactions from E. coli, derived L-asparaginase has increased the use of E. chrysanthemi derived L-Asparaginase. Furthermore, the rising demand for better stability in the pharmaceutical industry to ensure efficient storage and transportation of drugs has further increased the R&D activities in the industry. There has been a rising inclination toward lyophilized drugs due to various advantages associated with lyophilized drugs. Thus, all the factors mentioned above are expected to drive the asparaginase market growth in the near future.

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