Acute Pancreatitis Market: Current Trends and Future Outlook
Acute Pancreatitis Market: Current Trends and Future Outlook
Blog Article
The acute pancreatitis market encompasses products associated with the diagnosis and treatment of acute pancreatitis such as medications, surgical equipment and imaging systems. Acute pancreatitis is a painful inflammation of the pancreas that involves the abrupt onset of symptoms. Symptoms include sudden severe pain in the upper abdomen that may spread through to the back, nausea and vomiting.
Medications prescribed for Acute Pancreatitis Market primarily include analgesics, antibiotics and secretin inhibitors that help in reducing pancreatic secretions. Some common surgical procedures involved are pancreatic drainage and necrosectomy which involves removal of dead or infected pancreatic tissue. Key imaging techniques utilised in diagnosis are computed tomography (CT) and magnetic resonance imaging (MRI) which help detect pancreatic lesions.
The acute pancreatitis market is estimated to be valued at USD 522.5 Mn in 2024 and is expected to reach USD 710.8 Mn by 2031, growing at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.
Key Takeaways
Key players operating in the acute pancreatitis market are Takeda Pharmaceuticals, Novartis AG, copyright Inc., GlaxoSmithKline, AbbVie Inc. Rising prevalence of pancreatic diseases along with higher adoption of imaging techniques for accurate diagnosis is driving the demand for acute pancreatitis treatments. Advancements in surgical interventions have improved outcomes for patients with acute pancreatitis.
Growing demand in the market is attributed to rising incidence rates of pancreatic disorders including gallstones and alcohol use which are major causative factors for acute pancreatitis. According to the National Pancreas Foundation, there are an estimated 270,000 hospital visits annually due to acute pancreatitis in the United States alone. Higher awareness regarding symptoms and availability of effective treatment options is encouraging more patients to seek timely medical intervention.
Technological advancements in imaging technologies have facilitated faster diagnosis of acute pancreatitis. Introduction of multi-detector CT scanning has improved detection of small calcifications and anatomical variants. MR imaging offers potential advantages over CT for characterizing complications of acute pancreatitis without exposure to radiation. Development of novel bioactive secretin analogs promises to provide better regulation of exocrine pancreatic secretions with minimal side effects.
Market Trends
Increased demand for minimally invasive surgery: Laparoscopic necrosectomy procedures are gaining traction due to benefits such as shorter hospital stay, less post-operative pain and earlier oral intake.
Rise in research on genetic factors and targets: Studies examining genetic polymorphisms and mutations linked to acute pancreatitis pathology can aid in developing precision therapies in future.
Market Opportunities
High potential in developing countries: Markets in Asia Pacific and Latin America present lucrative opportunities for industry players owing to improving access to healthcare services.
Emerging therapies: Drug makers are investing in developing novel compounds targeting pathogenic mechanisms like trypsinogen activation to achieve better symptom management.
Impact of COVID-19 on Acute Pancreatitis Market Growth
The COVID-19 pandemic has significantly impacted the growth of acute pancreatitis market globally. During the outbreak, the market witnessed a decline in the number of acute pancreatitis patients visiting hospitals owing to fear of virus transmission and lockdowns imposed by various governments. This led to postponement of acute pancreatitis surgical procedures and reduction in demand for associated drugs. Moreover, supply chain disruptions caused shortage of key drugs and medical devices in many parts of the world.
However, with lifting of lockdowns and resumption of healthcare facilities post pandemic, the market is anticipated to bounce back. The demand for drugs to treat acute pancreatitis is expected to rise in coming years as patients would seek treatment for conditions deferred during peak pandemic times. Market players are focusing on strengthening distribution channels and scaling up production to meet the growing needs. Telehealth and home care are gaining more focus for acute pancreatitis management to avoid hospitals, benefitting market growth.
North America currently holds the major share of acute pancreatitis market in terms of value, owing to rising prevalence of the disease, advanced healthcare infrastructure and availability of novel treatment options. Asia Pacific is projected to be the fastest growing regional market during the forecast period. This is attributed to increasing healthcare awareness, medical tourism and improving access to drugs and therapies. China and India will spearhead the growth in Asia Pacific region.
Europe also captures significant market share due to growing elderly population susceptible to acute pancreatitis, favorable government policies and high adoption of innovative treatment modalities. Additionally, Latin America and Middle East & Africa are expected to provide lucrative opportunities for acute pancreatitis market players over the coming years.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)