NEWARK, Del, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The fecal pancreatic elastase testing market is expected to increase from US$ 15,306.7 million in 2023 to US$ 31,842.3 million by 2033.
Acute Pancreatitis Occurs Frequently
The increasing growth rate of the market is attributed to the rise in acute pancreatitis cases on a global basis. Gallstones and heavy alcohol usage, particularly in the younger population, are the main causes of acute pancreatitis.
The prevalence of obesity and gallstones among the population is increasing the likelihood of developing acute pancreatitis. This is predicted to increase demand for efficient medications and technologies to treat the illness and lessen discomfort.
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Gallstones, which account for 28 to 38 percent of all cases of acute pancreatitis (AP), are the frequent cause of the condition. Alcohol use accounts for 19 to 41 percent of cases and is the second-leading cause. Acute pancreatitis risk is exacerbated by the rise of gallstone patients.
Increasing Infrastructure Spending for Healthcare
One significant factor influencing the pancreatitis market's growth rate is the rising expense of healthcare. This contributes to the industry's infrastructure development. The initiatives of various government bodies to improve the healthcare infrastructure by increasing financing have an even greater impact on market dynamics.
Increasing Cases of Diabetes Mellitus
The market's growth rate is anticipated to be accelerated by the rising prevalence of diabetes. Cells that make insulin can be harmed by pancreatitis. Nearly 45 percent of people with chronic pancreatitis develop diabetes when the disease destroys these cells.
The market for pancreatitis grows as a result of an increase in the elderly population and government measures to raise awareness. Additionally, increasing rates of obesity and pancreatic cancer spur market expansion.
An Increase in the Volume of Research and Development Activity
A rise in the quantity of research and development activities is another factor driving the market's expansion. The pancreatitis market benefit from these favorable chances.
Investments in the creation of cutting-edge technology and an increase in emerging markets both contribute to the market's growth. For instance, an artificial pancreas can automatically balance glucose levels in blood using the insulin pump and glucose monitor sensor. These elements present advantageous chances for the pancreatitis market's expansion.
Key Points from the Fecal Pancreatic Elastase Testing Market
- The United States accounted for 28.6% of the market share in the North American region.
- Increasing exocrine pancreatic insufficiency (EPI) worldwide is boosting the market.
- The market is expected to surpass US$ 31,842.3 million by 2033.
- Asia Pacific is likely to dominate the global fecal pancreatic elastase testing market by 2033.
Key Development in the Fecal Pancreatic Elastase Testing Market
August 2021 - Bio Check Inc. improved its diagnostic business by acquiring DRG Diagnostics' worldwide division.
- July 2021 - DiaSorin purchased Luminex Corporation. Through this acquisition, DiaSorin be able to improve its current product line and increase the Group's footprint in the United States.
- August 2019 – Cer Test Bio tec S.L. has increased the availability of its solutions for the diagnosis of infectious diseases in Germany and Japan.
- October 2020 - Apexigen Inc. received approval from the United States Food and Drug Administration (FDA) to designate its APX005M. A humanized monoclonal antibody that triggers the anti-tumor immune response for the treatment of pancreatic cancer. As well as esophageal and gastroesophageal junction cancer, as an orphan drug.
- July 2020 - The Lynparza medication from AstraZeneca and Merck was authorized in the European Union for patients with pancreatic cancer who have undergone chemotherapy and whose tumors have germline BRCA1/2 mutations.
- December 2022 - Auxora Phase II clinical dose-ranging trial is being carried out by Calci Medica, Inc. in patients with systemic inflammatory response syndrome and acute pancreatitis.
- March 2022 - AcelRx Pharmaceuticals, Inc. reported results comparing Nafamostat and citrate anticoagulation (RCA), two separate dialysis circuit anticoagulants, in pediatric patients on continuous renal replacement therapy (CRRT).
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Competitive Landscape for the Fecal Pancreatic Elastase Testing Market:
Manufacturers employ various strategic approaches to expand their customer base, such as launching new products, advancing technology, forging partnerships, and establishing distribution agreements among industry players.
Recent Developments by the Fecal Pancreatic Elastase Testing Market:
- In June 2020, BÜHLMANN introduced the BÜHLMANN fPELA® turbo, a groundbreaking turbidimetric immunoassay. This product, which has obtained CE certification, is designed to expedite the detection of human pancreatic elastase, showcasing the company's commitment to innovation.
- Additionally, Vitassay, a diagnostic test developer and distributor, introduced the Pancreatic Elastase-Turbidimetric test in May 2020. This quantitative turbidimetric test is designed for detecting human Pancreatic Elastase E1 in solid human stool samples.
Key Players in the Fecal Pancreatic Elastase Testing Market:
- Laboratory Corporation of America® Holdings
- DiaSorin
- ScheBo Biotech AG
- Immundiagnostik AG
- Invivo Healthcare
- DRG Instruments GMBH
- Verisana Laboratories
- BÜHLMANN Laboratories AG
- CerTest Biotec S.L.
- R-Biopharm AG
- American Laboratory Products Company, Ltd.
- Vitassay Healthcare, S.L.U.
Key Segments Covered in the Fecal Pancreatic Elastase Testing Market
By Product:
- Fecal Pancreatic Elastase ELISA Kits
- Rapid Fecal Pancreatic Elastase Kits
By Indication:
- Chronic Pancreatitis
- Type 1 Diabetes
- Cystic Fibrosis
- Others
By End User:
- Hospitals
- Diagnostics Laboratories
- Specialty Clinics
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News
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