Exocrine Pancreatic Insufficiency Market Estimated to Experience a Hike in Growth by 2025
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According to the report, the global EPI therapeutics and diagnostics market was valued at US$3,397.5 mn in 2016 and is projected to reach US$6,414.4 mn by 2025, expanding at a CAGR of 7.2% from 2017 to 2025.
Thanks to High Sensitivity, MRI to Witness Increased Adoption
Based on diagnostics, the EPI therapeutics and diagnostics market has been segmented into blood tests, magnetic resonance imaging (MRI), endoscopic ultra-sonography (EUS), and Computerized tomography (CT) scanning. CT scans are conventionally preferred and the most adopted method used for diagnosing EPI. The segment held the dominant chunk in the global market in 2016. While many healthcare professionals continue to use the modality owing to widespread availability and low cost as compared to other scans, the segment is likely to witness sluggish growth in the near future owing to the introduction of advanced and more accurate techniques.
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Diagnostic methods such as magnetic resonance imaging (MRI), which have been known to be more sensitive when compared to CT scans, are witnessing increasingly high demand across the globe. The segment of MRI is thus emerging as the technique of choice for the analysis of chronic pancreatitis along with CT scans. Hence, the MRI segment is likely to outpace other segments in terms of CAGR during the forecast period.
North America to Present Promising Growth Opportunities
Geographically, the report examines the EPI therapeutics and diagnostics market across regions such as Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. Of these, the market in North America held for the dominant share of the global market in 2016. The regional market is most likely to remain the dominant regional market over the forecast period as well, thanks to the increased cost per prescription for PERT products in the U.S. Factors such as the massive rise in incidence of exocrine pancreatic insufficiency and other causative conditions such as diabetes and cystic fibrosis in the U.S. is expected to remain a key factor contributing to the strong position of the North America market.
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The report estimates that the EPI therapeutics and diagnostics market in Asia Pacific will outpace other regional markets over the forecast period owing to the increasing population of geriatrics in countries such as China, Japan, and Singapore. Moreover, rising incidence of chronic pancreatitis in India, Malaysia, and China is likely to support market growth. The EPI therapeutics and diagnostics market in Latin America is also projected to exhibit a vast rise in growth opportunities during the forecast period. Factors such as rising incidence of causative diseases, increased focus of governments on improving the healthcare infrastructure of emerging economies, and rising investments by market players are the key factors expected to fuel the market in the region.
Some of the leading companies operating in the global EPI therapeutics and diagnostics market are AbbVie, Inc., Allergan plc, Anthera Pharmaceuticals, Inc., Digestive Care, Inc., Janssen Pharmaceuticals, Inc., Nordmark Arzneimittel GmbH & Co. KG, Cilian AG, and AzurRx Biopharma, Inc.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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