Transparency Market Research (TMR) has published a new report titled, ‘Exocrine Pancreatic Insufficiency (EPI) Therapeutics & Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global exocrine pancreatic insufficiency (EPI) therapeutics & diagnostics market was valued at US$ 3.9 Bn in 2018 and is projected to expand at a CAGR of 7.2% from 2019 to 2027.
Overview
- Exocrine pancreatic insufficiency occurs when the pancreas does not release enough digestive enzymes. As a result, food is not digested properly, and the body doesn't receive the nutrition it needs. In people with chronic pancreatitis, EPI tends to develop 5 to 10 years after the onset of chronic pancreatitis and is present in 30-90% of patients.
- The exocrine pancreatic insufficiency (EPI) therapeutics & diagnostics market is currently booming one, owing to rise in demand for the products, increase in awareness about technological products. Moreover the strong pipeline and strategic investment by key players are the factors anticipated to drive the growth of market.
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- North America dominates the global exocrine pancreatic insufficiency (EPI) therapeutics & diagnostics market in 2018 and the trend is anticipated to continue during the forecast period. The growth of market in the region is attributed due to higher cost of prescription in the U.S., surge in demand for EPI therapeutics, and well established healthcare infrastructure
- Asia Pacific is likely to be a highly lucrative market for the exocrine pancreatic insufficiency (EPI) therapeutics & diagnostics market and it is expected to expand at a high CAGR during the forecast period. Vast patient pool, increasing healthcare expenditure and demand for newer advanced therapies are key factors likely to boost exocrine pancreatic insufficiency (EPI) therapeutics & diagnostics market in Asia Pacific.
- Rise in Prevalence of Exocrine Pancreatic Insufficiency Disease to Drive Global Exocrine Pancreatic Insufficiency (EPI) Therapeutics & Diagnostics Market
- Chronic & acute pancreatitis, autoimmune pancreatitis, pancreatic cancer, cystic fibrosis, diabetes, inflammatory bowel disease, celiac disease and among others are the diseases leading to cause of EPI. Thus, surge in number of people above mention causative condition is anticipated to drive the growth of market.
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Therapeutics Segment to Dominate Exocrine Pancreatic Insufficiency (EPI) Therapeutics & Diagnostics Market
- In terms of type, the global exocrine pancreatic insufficiency (EPI) therapeutics & diagnostics market has been segmented into therapeutics and diagnostics. Demand for therapeutic products is anticipated to rise during the forecast period, owing to consolidation of brands and value generating brands such as Creon. This in turn to drive the growth of segment.
- Diagnostics segment further sub-divided into blood tests, endoscopic ultra-sonography (EUS), magnetic resonance imaging (MRI) and CT scanning. The CT scanning sub-segment accounted for major share of the segment and continue its dominance during the forecast period. CT scanning helps in understanding the cause of pancreatic insufficiency, to detect previously undiagnosed carcinoma, enable diagnosis of chronic pancreatitis, and to confirm complete surgical removal of the pancreas. This in turn to increase in usage of CT scanning for diagnosis of exocrine pancreatic insufficiency and thereby drive the growth of segment
North America to Dominate Global Exocrine Pancreatic Insufficiency (EPI) Therapeutics & Diagnostics Market
- In terms of region, the global exocrine pancreatic insufficiency (EPI) therapeutics & diagnostics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global exocrine pancreatic insufficiency (EPI) therapeutics & diagnostics market in 2018, followed by Europe.
- North America accounted for major share of the global exocrine pancreatic insufficiency (EPI) therapeutics & diagnostics market in 2018. High disease prevalence, supportive healthcare and payer infrastructure, and hub for key industry players are the major drivers of the exocrine pancreatic insufficiency (EPI) therapeutics & diagnostics market in the region.
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- The exocrine pancreatic insufficiency (EPI) therapeutics & diagnostics market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. Unmet medical needs, untapped nature of the market, increase in awareness about diseases such as cystic fibrosis and chronic pancreatitis and improving health care infrastructure are the key factors for exocrine pancreatic insufficiency (EPI) therapeutics & diagnostics market growth in the region
Competitive Landscape
- The global exocrine pancreatic insufficiency (EPI) therapeutics & diagnostics market is fragmented in terms of number of players. Key players in the global exocrine pancreatic insufficiency (EPI) therapeutics & diagnostics market include AbbVie, Inc., Allergan plc, Nordmark Arzneimittel GmbH & Co. KG, Digestive Care, Inc., Janssen Pharmaceuticals, Inc., Cilian AG, Anthera Pharmaceuticals, Inc. and AzurRx Biopharma, Inc.
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