Pancrelipase Market Expected to Reach $2.7 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Pancrelipase Market," The pancrelipase market was valued at $1.8 billion in 2021, and is estimated to reach $2.7 billion by 2031, growing at a CAGR of 4.3% from 2022 to 2031.

An exocrine pancreatic insufficiency-related class of drugs known as pancrelipase is used to treat malabsorption of nutrients in the body. Digestive enzymes such as pancrelipase aid in the breakdown and digestion of lipids, carbohydrates, and proteins in food. Pancrelipase is used to treat to digestive problems variety of diseases such as pancreatitis, chronic pancreatitis, pancreatic cancer, cystic fibrosis, pancreatectomy, and post-gastrointestinal bypass surgery as in these conditions the production of digestive enzymes is hampered.

Surge in incidence of the pancreatitis and other pancreatic disorders is the major driver and upcoming pancrelipase market trends. Changing dietary habits of peoples due to adoption of modern lifestyle, surge in alcohol consumption causes various digestive health disorders, thus driving the pancrelipase market forecast. Pancrelipase helps in the digestion of patients suffering from these diseases due to a lack of digestive enzymes owing to their disease condition. Thus, increasing digestive problems boosts the demand for pancrelipase thereby drives the market growth.

In past decade there is significant rise in pancreatic cancer. For an instance according to the National Cancer Institute, in 2019, there were an estimated 89,248 people living with pancreatic cancer in the U.S. The rate of new cases of pancreatic cancer was 13.3 per 100,000 men and women per year. The death rate was 11.1 per 100,000 men and women per year. In addition, pancrelipase is primary treatment for exocrine pancreatic insufficiency which fuels the market growth.
However, high cost associated with drug development and strict regulatory standards expected to hinder market growth. Conversely, increasing purchasing power of developing nations is lucrative opportunity for the market growth.

The pancrelipase market analysis is segmented by application, age, distribution channel and region. By application, the pancrelipase market size is segmented into chronic pancreatitis, cystic fibrosis and others. The chronic pancreatitis segment generated maximum revenue in 2021, and also expected to witness highest CAGR during the forecast period, owing to high prevalence of the chronic pancreatitis and upsurge in the alcohol consumption. 

By age, the pancrelipase market size is segmented into children and adult & geriatric. The adult & geriatric segment generated maximum revenue in 2021, and also expected to witness highest CAGR during the forecast period, owing to high incidence of the pancreatic cancer in adults and digestive disorders are more common in adult & geriatric population. 

Depending on distribution channel, the pancrelipase industry is divided into hospital pharmacies, drug store & retail pharmacies and online pharmacies. The drug store & retail pharmacies segment dominated the pancrelipase market share in 2021, owing to increase in sell of prescription drugs and are also required in high quantities which increases dependence on drug stores. The online pharmacies segment is expected to witness highest CAGR during the forecast period owing to convenience and cheaper costs of purchasing prescription drugs electronically.

North America accounted for a majority of the global pancrelipase market share in 2021, and is anticipated to remain dominant during the forecast period. This is attribute surge in incidence of chronic pancreatitis, rise in awareness about usage of pancrelipase, presence of key players and robust hospital infrastructure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing rise in incidence pancreatic cancer, development of healthcare infrastructure and increase in investments projects in the region.

 Key findings of the study
•    By application, the chronic pancreatitis segment was the highest contributor to the market in 2021.
•    By age, the adult & geriatric segment was the highest contributor to the pancrelipase industry in 2021.
•    Depending on distribution channel, the drug store & retail pharmacies segment was highest contributor in 2021, and is expected to continue this trend during the forecast period.
•    Region wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.