Pancreatin is a mixture of digestive enzymes produced by the pancreas that is used to supplement the digestive process in individuals with pancreatic insufficiency. It is commonly used in the treatment of chronic pancreatitis, cystic fibrosis, and other digestive disorders. The global pancreatin market has been growing steadily in recent years due to increasing prevalence of digestive disorders, rising geriatric population, and growing demand for effective pancreatic enzyme replacement therapies. According to a report by PMR, the global pancreatin market size was valued at USD 1.3 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2028.
One of the key drivers of the pancreatin market is the increasing incidence of pancreatic disorders, such as chronic pancreatitis and cystic fibrosis. Chronic pancreatitis is a progressive inflammatory disease that affects the pancreas and can lead to permanent damage and loss of function. Cystic fibrosis is a genetic disorder that causes mucus to build up in the lungs, pancreas, and other organs, leading to digestive problems and other health issues.
Another factor driving growth in the pancreatin market is the rising geriatric population. Older adults are more susceptible to digestive disorders and are more likely to require pancreatic enzyme replacement therapy. According to the United Nations, the global population aged 65 and older is expected to reach 1.5 billion by 2050, which is more than double the number in 2019.
In addition to the above factors, the increasing awareness about pancreatic enzyme replacement therapy and the availability of advanced diagnostic tools and treatments are expected to boost the demand for pancreatin in the coming years. However, the high cost of pancreatin products and the side effects associated with their use, such as abdominal pain, diarrhea, and nausea, could hinder the growth of the market to some extent.
In terms of geography, North America dominated the global pancreatin market in 2020 due to the high prevalence of digestive disorders and the presence of key market players in the region. However, Asia Pacific is expected to witness the highest growth rate during the forecast period due to the increasing healthcare expenditure, growing awareness about pancreatic disorders, and rising demand for effective digestive enzyme replacement therapies.
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