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Pharmacy benefit management market
Pancrelipase Market REPORT OVERVIEW
The global pancrelipase market size was USD 1066.9 million in 2020 and the market is projected to touch USD 1432.6 million by 2027, exhibiting a CAGR of 4.3% during the forecast period.
Pancrelipase (CAS 53608-75-6) is a combination of three enzymes (proteins): lipase, protease, and amylase. These enzymes are normally produced by the pancreas and are important in the digestion of fats, proteins, and sugars. Pancrelipase is used to replace these enzymes when the body does not have enough of its own. Certain medical conditions can cause this lack of enzymes, including cystic fibrosis, chronic inflammation of the pancreas, or blockage of the pancreatic ducts.
The marker for pancrelipase is expected to gain higher demand over this forecast with several significant driving factors. The rising prevalence of chronic pancreatitis, cystic fibrosis, and pancreatic cancer is a prominent factor in augmenting the pancrelipase market growth. The rise in chronic pancreatitis, and pancreatic cancer due to various factors such as lifestyle changes, dietary habits, and aging populations, expands the scope of the market. As the incidence of these diseases raise, the demand for pancreatic enzyme replacement therapy like pancrelipase is likely to contribute to fuelingl the market demand. Furthermore, ongoing clinical trials and research & development are also anticipated to aid the ample growth of this market. However, the high cost of the treatment is predicted to be a constraint for the growth of the market over this projection timeframe.
COVID-19 Impact: Postponed Non-Critical Medical Treatments Impacted the Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels. The pandemic profoundly impacted the market for pancrelipase. The overburden of infected patients and the lockdown limitation led to non-critical medical treatments on hold which disrupted the growth of the pancrelipase market throughout this health emergency. Consequently, the market experienced a decline in demand and revenue during the pandemic. While the industry may eventually recover as the situation improves, the immediate impact of COVID-19 was predominantly negative for the global market.
LATEST TRENDS
"New Formulations and Delivery Systems to Expand Market Prospects"
In the pancrelipase market the trend of new formulations and improved delivery systems is expected to support the market evolution. Pharmaceutical companies in the market continue to innovate in pancrelipase formulations and delivery systems to improve efficacy, convenience, and patient compliance. In this, pharmaceutical companies are focusing on the development of novel enteric-coated capsules, microsphere-based formulations, and delayed-release technologies to enhance the stability and targeted release of pancreatic enzymes. Additionally, notable pharma companies emphasize on ongoing clinical trials and research studies which are investigating the efficacy and safety of pancrelipase in various patient populations and clinical settings. These studies aim to further optimize treatment regimens, dosage adjustments, and patient outcomes. Consequently, these trends and ongoing clinical trials are anticipated to expand lucrative opportunities for market expansion during this forecast period.
pancrelipase market SEGMENTATION
By Type
Based on type the global market can be categorized into Capsule and Tablet.
- Pancrelipase capsules: Capsules contain enteric-coated microspheres or granules containing the pancreatic enzymes lipase, protease, and amylase. The enteric coating helps protect the enzymes from degradation by stomach acid.
- Pancrelipase tablets: Tablets are another formulation option available for pancreatic enzyme replacement therapy. These tablets may also be enteric-coated to protect the enzymes from stomach acid and ensure delivery to the small intestine.
By Application
Based on application the global market can be categorized into Adult and Children
- Pancrelipase therapy is essential for individuals with pancreatic enzyme deficiencies, including conditions like cystic fibrosis and chronic pancreatitis, which can affect both adults and children. The formulation and dosage of pancrelipase may vary based on age and individual patient factors, with specialized formulations available for pediatric populations to ensure appropriate dosing and ease of administration. Tailored treatment plans are crucial to address the unique nutritional needs and digestive challenges faced by both adult and pediatric patients with pancreatic enzyme deficiencies.
DRIVING FACTORS
"Upsurge in Incidence of Pancreatic Condition to Drive the Growth of the Market"
The main driving factor of the pancrelipase market growth is the condition of cystic fibrosis, chronic pancreatitis, and pancreatic cancer that are becoming more prevalent globally due to various factors such as lifestyle changes, dietary habits, and aging populations. As the incidence of these diseases rises, the demand for pancreatic enzyme replacement therapy like pancrelipase is expected to surge.
"Growing Awareness and Diagnosis of Pancreatitis to Lift Market Development "
Along with this, the improved awareness of pancreatic disorders among healthcare professionals and the general population leads to earlier diagnosis and treatment initiation. As awareness campaigns raise understanding about symptoms and risk factors, more patients are likely to seek medical attention. As a result, these factors are anticipated to support the growth of the pancrelipase market during this projection period.
RESTRAINING FACTOR
"High Cost of Treatment Can Obstruct Market Expansion"
Despite, market drivers, the growth of the market can be obstructed due to the high cost of the treatment. Illustratively, Pancrelipase and other pancreatic enzyme replacement therapies can be expensive, particularly for patients who require long-term or high-dose treatment. Therefore, the high cost of treatment may limit access for some patients which could hinder market expansion.
pancrelipase market REGIONAL INSIGHTS
"North America Dominates the Market Due to High Prevalence of Pancreatic Disorders"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, Middle East, and Africa.
As per market research, North America accounts for the significant pancrelipase market shares in terms of revenue. The high prevalence of pancreatic disorders such as cystic fibrosis, chronic pancreatitis, and pancreatic cancer, early diagnosis and access to treatment, and well-established healthcare infrastructure are attributed to the region’s leading position in the pancrelipase market. In addition, robust research and development activities in the pharmaceutical sector, high healthcare expenditure, extensive insurance coverage, and favourable government reimbursement policies are further expected to contribute the North America’s dominance in this forecast.
KEY INDUSTRY PLAYERS
"Key Players Emphasis on Product Innovation to Develop Cutting Edge Technology"
Prominent companies are operating in the stadium light market such as Cree, Ephesus Lighting, Musco, Signify, and Zumtobel Group and others stimulate market growth significantly. They focus on innovation, developing cutting-edge lighting solutions tailored to the needs of stadium owners and operators. Collaborations with sports leagues and stadium developers, along with effective marketing campaigns, help showcase their products. Moreover, offering demonstrations, trials, and customization options allows customers to experience the benefits firsthand while emphasizing energy efficiency and sustainability aligns with current trends.
List of Market Players Profiled
- Abbott (U.S.)
- Janssen (Belgium)
- Aptalis (U.S.)
- DCI (U.S.)
Industry Development
In March 2021, AbbVie, an American pharmaceutical company, conducted a study to evaluate the symptoms of exocrine pancreatic insufficiency (EPI) in adults diagnosed with cystic fibrosis or chronic pancreatitis who were receiving treatment with Creon in which it found Pancrelipase improves EPI symptoms in chronic pancreatitis patients.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1066.9 Million in 2020 |
Market Size Value By |
US$ 1432.6 Million by 2027 |
Growth Rate |
CAGR of 4.3% from 2020 to 2027 |
Forecast Period |
2022-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the pancrelipase market expected to touch by 2027?
The global pancrelipase market is expected to reach USD 1432.6 million by 2027.
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What CAGR is the pancrelipase market expected to exhibit by 2027?
The pancrelipase market is expected to exhibit a CAGR of 4.3% by 2027.
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Which are the driving factors of the pancrelipase market?
Upsurge in incidence of pancreatic condition, growing awareness and diagnosis of pancreatitis are some of the driving factors of the pancrelipase market.
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What are the key segments of the pancrelipase market?
The pancrelipase market segmentation that you should be aware of, which includes, based on the type pancrelipase market is classified as capsule and tablet. Based on application the pancrelipase market is classified as adult and children