New York, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The global pancreatic stone protein testing market size is predicted to grow at a CAGR of over ~3% from 2023 to 2033. The market is projected to garner a revenue of USD 5 billion by the end of 2033, up from a revenue of ~USD 4 billion in the year 2022.The growth of the market can be attributed to the globally rising prevalence of chronic diseases, caused by pancreatic stone formation. Some of these diseases include acute appendicitis, diabetes, gallstones, and optic atrophy, which is expected to drive the demand for global market during the forecast period. It was observed that, in American Indians, gallstones are prevalent at a rate of about 55% to 65%, while the rate in white adults in developed countries is approximately 8% to 15%. Likewise, the rate of acute pancreatitis symptoms is higher in developing countries as well as in developed countries.
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For instance, the annual incidence of acute pancreatic in the U.S. ranges from 20 to 50 per 100,000 population. The global pancreatic stone protein testing market size is expected to expand during the forecast period owing to its potential for detecting life-threatening diseases and monitoring the response to treatment. Additionally, the increasing cases of chronic & hereditary pancreatitis and pancreatic cancer worldwide are estimated to propel the growth of the global pancreatic stone protein testing market over the forecast period.
Increasing Prevalence of Diabetes Globally across the Globe to Boost Market Growth
The global prevalence of diabetes has been on the rise, driven by a combination of factors such as sedentary lifestyles, unhealthy dietary habits, and increasing rates of obesity. The surge in diabetes cases presents a significant market opportunity for pancreatic stone protein. The prevalence of diabetes is soaring globally, encompassing both developed and developing nations. This increase is multifactorial, with factors such as aging populations, urbanization, and, notably, changes in dietary habits contributing to the surge. According to the International Diabetes Federation (IDF), approximately 537 million people had diabetes worldwide in 2021, and this number is projected to rise to 643 million by 2030. One significant factor contributing to the diabetes epidemic is the shift in dietary patterns. Modern diets often include high levels of processed foods, sugar, and unhealthy fats. Increased consumption of sugary beverages and foods with a high glycemic index has been linked to the rising prevalence of type 2 diabetes. Obesity is a major risk factor for developing type 2 diabetes. Changes in food habits, including the consumption of calorie-dense and nutrient-poor foods, contribute to the global obesity epidemic. As obesity rates climb, so does the likelihood of diabetes cases, underscoring the urgent need for effective diabetes management solutions.
Pancreatic Stone Protein Testing Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rising Incidence of Pancreatic Disorders to Drive the Market Growth in North America Region
The pancreatic stone protein testing market in North America region is estimated to garner the largest revenue by the end of 2033. The increasing incidence of pancreatic disorders, including cancer, underscores the critical need for effective diagnostic tools. PSP, as a potential biomarker, has garnered attention for its role in detecting abnormalities in the pancreas. As pancreatic diseases become more prevalent, the demand for accurate and early diagnostic methods like PSP testing is on the rise. According to the American Cancer Society, an estimated 60,430 new cases of pancreatic cancer were diagnosed in the United States in 2021. Technological advancements play a pivotal role in the growth of the PSP market. The continuous evolution of diagnostic technologies, including more sensitive and specific assays for protein measurement, enhances the accuracy and reliability of PSP testing. The robust diagnostic imaging market in North America further supports the integration of innovative diagnostic tools, driving the demand for PSP testing. Early detection is crucial for improving outcomes in pancreatic disorders. PSP testing, as part of early diagnostic strategies, gains significance in enhancing the chances of timely intervention.
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Increased Healthcare Expenditure to Propel the Growth in the Asia Pacific Region
The Asia Pacific pancreatic stone protein testing market is estimated to garner the highest CAGR by the end of 2033. The substantial increase in healthcare expenditure in the Asia-Pacific region reflects a growing commitment to improving healthcare infrastructure and services. This investment supports the adoption of advanced diagnostic technologies, including PSP testing. As healthcare systems in the region modernize, the demand for sophisticated diagnostic tools for pancreatic disorders is expected to rise. The Asia-Pacific healthcare expenditure reached around USD 1.8 trillion in 2020, according to a report by the World Health Organization (WHO). Advances in diagnostic technologies play a pivotal role in the growth of the PSP market. The robust diagnostic imaging market in the Asia-Pacific region indicates a growing acceptance of innovative diagnostic tools. As technology continues to evolve, the integration of sensitive and specific assays for PSP measurement enhances diagnostic accuracy and contributes to the market's expansion. Government-led awareness and screening initiatives are critical drivers for the adoption of PSP testing. As governments in the Asia-Pacific region recognize the impact of pancreatic disorders on public health, they are investing in proactive measures, including screening programs.
Pancreatic Stone Protein, Segmentation by Diseases Type
- Sepsis
- Acute Appendicitis
- Diabetes
- Optic Atrophy
- Deafness
Amongst these segments, the sepsis disease segment is anticipated to hold the largest share over the forecast period. The growth of the segment is fueled by the growing number of cases of sepsis around the globe, and increasing awareness among people about the early diagnosis of sepsis. The World Health Organization (WHO) estimates that every year, more than 49 million people suffer from sepsis, resulting in 11 million deaths worldwide. In recent years, the number of patients with severe sepsis has increased from 25% to 42%. Sepsis is a more common disease that causes infection and affects the immune system of the body. Moreover, sepsis is a bacterial or viral infection that causes traumatic injury. The infection triggers the immune system and initiates the release of chemicals and immune mediators into the bloodstream to fight the infection. This leads to inflammation, blood clots, and bleeding from blood vessels that cause organ damage.
Pancreatic Stone Protein, Segmentation by Age Group
- Infant
- Children
- Adults
- Geriatric
Amongst these segments, the adults segment in pancreatic stone protein testing market is anticipated to hold a significant share over the forecast period. The elderly population is suffering from acute pancreatitis compared to younger people. The high risk of malnutrition in the elderly or aging population supports immunodeficiency making them more prone to the development of organ dysfunction. The severity of the disease is also very high in older people may be owing to atypical symptoms, reduced pancreatic protein production, impairment in immunity, and bacterial translocation. The mortality rate of patients with acute pancreatitis in people aged 60-70 years is 0.8 per year which is approximately 20 times that in people aged under 20 as per estimations in 2019 across the globe. Further, the frequent cause of biliary lithiasis, lithogenic bile, and dilation of the bile duct, are common reasons for the incidence of acute pancreatitis in aged people. Alcohol consumption, idiopathic pancreatitis caused by genetic polymorphisms, environmental chemicals, and smoking habits are other also estimated to increase the risk of acute pancreatitis in the elderly.
Few of the well-known industry leaders in pancreatic stone protein testing market that are profiled by Research Nester are RayBiotech Life, Inc., CUSABIO TECHNOLOGY LLC, LifeSpan BioSciences, Inc, Abbexa Limited, Boster Biological Technology CO LTD, Aviva Systems Biology Corporation, Glenmed Professional Healthcare Solutions., CREATIVE DIAGNOSTICS, Inc, Biomol GmbH, and other key market players.
Recent Development in the Pancreatic Stone Protein Testing Market
- CREATIVE DIAGNOSTICS, Inc’s range of antibiotics ELISA kits can be used to detect antibiotic residues very accurately. Bio-production processes can benefit from these kits for impurity detection.
- Glenmed Professional Healthcare Solutions to elaborate on how new forms of technologies and ongoing innovation are impacting the medical world by analyzing technology trends from recent decades.
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