- Artificial Digestive Enzyme
- Protein Supplements
Chronic Pancreatitis Market was valued at USD 8.2 billion in 2022 and is poised to grow at a CAGR of 5.7% over 2023-2029. Chronic Pancreatitis is a long-standing inflammation of the pancreas that alters the organ’s normal structure and functions, has symptoms such as upper abdominal pain, nausea and vomiting, steatorrhea, weight loss, and diabetes type I, and the causes of the disease include alcoholism, autoimmune disorders, intraductal obstruction, idiopathic pancreatitis, tumors, ischemia, and others. According to the Global Burden of Disease (2017), the global estimation of incidence and mortality was 9.62 cases per 1,00,000 person-years and 0.09 deaths per 1,00,000 person-years, respectively for chronic pancreatitis. An increase in consumption of alcohol and a rise in unhealthy lifestyles will act as the growth drivers for the market. However, the high cost of treatment will have a restraining impact on the chronic pancreatitis market growth. Technological advancements and increasing healthcare expenditure are the opportunities for market expansion.
Fastest Growing Market
The increase in government initiatives and investments in R&D activities by the pharmaceutical companies for drug development are the major factors driving the market growth. For instance, in Aug 2020, CT Pharmaceutical Solutions held a meeting to add chronic pancreatitis condition to the Medical Marijuana Program for adults and for patients under 18 “whose pain is recalcitrant to standard medical management”. Thus, the increased awareness, research and development for chronic disorders will lead to the growth of the market within the forecast period, whereas, lack of skilled professionals with no proper line of treatment for the disease in the market could hamper the market growth.
The Chronic Pancreatitis market was valued at USD 8.2 billion in 2022 and is expected to grow at a 5.7% CAGR over the forecast period 2023 – 2029.
Technological advancements and increasing healthcare expenditure are the key opportunities for the Chronic Pancreatitis market.
An increase in consumption of alcohol and a rise in unhealthy lifestyles are the growth drivers in the Chronic Pancreatitis market.
Kangen Pharma, AzurRX BioPharma, Theraly Fibrosis, First Wave BioPharma., Pfizer Inc., Baxter, B Braun, Hoffmann-La Roche Ltd., and Merck & Co., Inc. are a few companies operating in the Chronic Pancreatitis market.