Global Elspar Market - WishTree Insight

Global Elspar Market by Type (Erwinia Chrysanthemi, Pegylated, and Escherichia Coli), Applications (Acute Myeloid Leukemia, Acute Lymphoblastic Leukemia, and Others), End-Users (Pharmaceutical, Food & Beverages, and Others), and Regions, The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The elspar market size was valued at USD 410 million in 2021 and is expected to surpass USD 495 million by 2031, expanding at a CAGR of 1.5 % during the forecast period, 2021–2031. The market's growth is attributed to the technological advancement of medical devices and the increase in the number of patients suffering from acute diseases such as leukemia.

INTRODUCTION

Erwinia L-Asparaginase or elspar is an enzyme, and an anti-cancer chemotherapy drug component used as a medication to treat acute lymphoblastic leukemia (ALL), acute myeloid leukemia (AML), and non-Hodgkin's lymphoma. It functions by catalyzing asparagine into aspartate and ammonia and inhibits protein synthesis. The enzyme is administered to the patient by injecting it into the vein. It is made from bacterial species such as Escherichia coli and erwinia chrysanthemi. Elspar is considered to be one of the essential medicines on the world health organization’s (WHO) list.

It is a popular component for manufacturing food products as an agent to reduce the formation of acrylamide.

Market Trends, Drivers, Restraints, and Opportunities

• Rising number of patients suffering acute diseases across the globe is a key driving factor in the global esplar market.
• The increase in the market size of food & beverages resulted in the growing number of applications of esplar in various food items presents another key factor that can push the market growth at a significant level in the forecast period.
• In many developed countries, leukemia has been expanding among children which are boosting the market growth.
• The side effects of the Elspar enzyme such as blood clotting problems, allergic reactions, kidney problems, liver dysfunction, blood sugar, and pancreatitis are considered to be the main challenges that can hamper the market growth.
• Advancement in medical technology and increasing investment in R&D from manufacturers are expected to create lucrative growth in the global elspar market.

Scope of the Report

Market Segment Insights

The Escherichia coli segment is projected to register a considerable CAGR

Based on type, the elspar market is divided into erwinia chrysanthemi, pegylated, and escherichia coli. The escherichia coli segment is expected to expand at a rapid pace during the forecast period owing to wide applications in various products.

The acute myeloid leukemia and acute lymphoblastic leukemia segment is expected to expand at a rapid pace

Based on application, the elspar market is divided into acute myeloid leukemia, acute lymphoblastic leukemia, and others. All of these segments are expected to expand at a rapid pace during the forecast period due to the rise in the number of patients from the disease worldwide.

The pharmaceutical segment is expected to register a considerable CAGR in the coming years

On the basis of end-user, the elspar market is segregated into pharmaceutical, food & beverages, and others. The pharmaceutical segment is expected to register a considerable CAGR in the coming years. The growth of the segment is attributed to the rising number of patients from acute diseases and the wide adoption of Elspar for the treatment of such diseases worldwide. On the other hand, the food & beverage segment is anticipated to account for a major market share during the forecast period due to the rising consumption of food & drink items globally.

The North American region is anticipated to constitute a key market share

In terms of regions, the elspar market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of the North American region is expected to constitute a key share of the market during the projected period. The growth in the region is attributed to a significant revenue share in the pharmaceutical industry. However, the market of the Asia Pacific is expected to expand at a rapid pace over the period. The rapidly rising demand for food & beverages as well as the high growth rate of the pharmaceutical industry across the region.

Competitive Landscape

Key players competing in the elspar market are Mingxing Pharma (China); Taj Pharmaceuticals Ltd (India); Porton Biopharma (U.K.); Jazz Pharmaceuticals (U.S.); Jinan Haohua Industry Co., Ltd. (China); United Biotech (India); Chemos GmbH & Co.KG (Germany).

FAQs

How much is the market worth?

The elspar market size was valued at USD 410 million in 2021 and is expected to surpass USD 495 million by 2031.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 1.5%.

What are the key drivers of the market?

The market's growth is attributed to the technological advancement of medical devices and the increase in the number of patients suffering from acute diseases such as leukemia.

What segments are covered in the Elspar report?

The segments covered in the report are type (erwinia chrysanthemi, pegylated, and escherichia coli), applications (acute myeloid leukemia, acute lymphoblastic leukemia, and others), end-users (pharmaceutical, food & beverages, and others).

Mention the key players in the market.

Mingxing Pharma (China); Taj Pharmaceuticals Ltd (India); Porton Biopharma (U.K.); Jazz Pharmaceuticals (U.S.); Jinan Haohua Industry Co., Ltd. (China); United Biotech (India); Chemos GmbH & Co.KG (Germany).