Press release
Acute Pancreatitis Market Set to Reach $8.04 Billion by 2029 with 6% Yearly Growth
Acute Pancreatitis Market
The escalating costs linked to health care provision are set to drive expansion in the acute pancreatitis market. Defined as the cumulative resources - both financial and non-financial - dedicated towards health services, the increase in healthcare expenditure is influenced by a multitude of aspects. This includes the high incidence of chronic medical conditions, broadening health insurance reach, and amplified understanding of mental health disorders. Acute pancreatitis can result in serious conditions like necrotizing pancreatitis, organ failure, and infections, necessitating further treatments, surgical procedures, and extended hospitalizations, which drastically inflate healthcare expenses. For instance, figures from the Canada-based non-profit organization, the Canadian Institute for Health Information, from November 2023, project that overall healthcare costs will rise to $344 billion in 2023, a modest 2.8% increase from the previous year. As such, the surge in healthcare spending is behind the growing acute pancreatitis market.
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What growth opportunities are expected to drive the acute pancreatitis market's CAGR through 2034?
The market size for acute pancreatitis has been experiencing robust growth in the past few years. The market is forecasted to expand from $5.96 billion in 2024 to $6.31 billion in 2025, following a compound annual growth rate (CAGR) of 5.9%. The growth in the preceding years is often linked to factors such as high incidence rates, trends in alcohol consumption, the prevalence of gallstones, habits of tobacco smoking, and the escalating rates of obesity.
In the next few years, the acute pancreatitis market is predicted to experience substantial growth, with forecasts suggesting a rise to "$8.04 billion by 2029, boasting a compound annual growth rate (CAGR) of 6.2%. Such expansion in this anticipated period can be credited to factors such as the impacts of an aging population, initiatives towards early diagnosis and increased awareness, genetic predisposition research, as well as advancements in treatment methods. Key emerging trends within this period include a concentration on nutritional support, enhanced patient education, and awareness campaigns - along with the execution of standard procedures, pursuance of regenerative therapies and constant monitoring and aftercare.
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What are the emerging trends shaping the future of the acute pancreatitis market?
Leading enterprises involved in the acute pancreatitis market are furthering the advancement of specialized technologies, such as dry chemistry slide technology, aimed at precise measurement of pancreatic lipase levels. This diagnostic technique employs a specially coated slide with dry reagents for undertaking chemical reactions that analyze biological specimens, offering swift and precise testing that doesn't require liquid reagents. For example, in June 2024, IDEXX Laboratories Inc., a healthcare innovation and diagnostics company from the US, launched the catalyst pancreatic lipase test. This test, designed for diagnosis of pancreatitis in felines and canines, leverages dry chemistry slide technology for precise quantification of pancreatic lipase levels. The test provides quick, numerically accurate results in less than 10 minutes and effortlessly integrates into existing workflows, thus improving diagnostic efficiency. It specifically aims to enhance early detection and therapies for pancreatitis, a serious condition among pets, and would be fortified by future enhancements such as the Catalyst SmartQC Control to further optimize veterinary diagnostics.
Which growth-oriented segments of the acute pancreatitis market are leading the industry's development?
The acute pancreatitis market covered in this report is segmented -
1) By Cause: Gallstones, Alcohol, Other Causes
2) By Treatment: Intravenous Fluid, Nutritional Support, Analgesics, Endoscopic Retrograde Cholangiopancreatography (ERCP), Other treatments
3) By Diagnosis: Imaging tests, Laboratory Tests
4) By End Users: Hospitals, Clinics, Other End-Users
Subsegments:
1) By Gallstones: Cholecystitis-Induced Pancreatitis, Choledocholithiasis-Induced Pancreatitis
2) By Alcohol: Acute Alcoholic Pancreatitis, Binge Drinking-Induced Pancreatitis
3) By Other Causes: Medications-Induced Pancreatitis, Trauma-Induced Pancreatitis, Infections-Induced Pancreatitis, Metabolic Disorders
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What regions are leading the charge in the acute pancreatitis market?
North America was the largest region in the acute pancreatitis market in 2024. The regions covered in the acute pancreatitis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the acute pancreatitis market?
Major companies operating in the acute pancreatitis market include CalciMedica Inc., SCM Lifescience Co. Ltd., Samsung Bioepis Co Ltd., Global Neurotech Pharma Corporation, Baxter International Inc., B. Braun Melsungen AG, Medtronic plc, Boston Scientific Corporation, Fresenius Kabi AG, Sun BioPharma Inc., Atox Bio Inc., D-Pharm Ltd., Regeneron Pharmaceuticals Inc., Merck & Co Inc, Olympus Corporation, Pfizer Inc., Ionis Pharmaceuticals Inc., Abbott Laboratories, Dynavax Technologies Corporation, GlaxoSmithKline plc, AbbVie Inc., Allergan plc, Amgen Inc., AstraZeneca PLC, Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche AG, Novartis AG, Sanofi SA, Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Johnson & Johnson
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What Is Covered In The Acute Pancreatitis Global Market Report?
• Market Size Forecast: Examine the acute pancreatitis market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the acute pancreatitis market for a structured understanding.
• Key Players Overview: Analyze major players in the acute pancreatitis market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the acute pancreatitis market.
• Segment Contributions: Evaluate how different segments drive overall growth in the acute pancreatitis market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the acute pancreatitis market.
• Industry Challenges: Identify potential risks and obstacles affecting the acute pancreatitis market.
• Competitive Landscape: Review strategic developments in the acute pancreatitis market, including expansions, agreements, and new product launches.
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