Global Pancreatic Elastase Testing Market Highlights over 2022 – 2031
The global pancreatic elastase testing market is estimated to grow at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. Pancreatic elastase test, also known as, fecal elastase, is used to test the amount of elastase produced in the body. Elastase is an enzyme secreted by the pancreas to break down fats, proteins, and carbohydrates. The growth of the market can be attributed to the increasing prevalence of pancreatic insufficiency, chronic pancreatitis, and others. According to a report published by National Center for Biotechnology Information and StatPearls Publishing, chronic pancreatitis occurs in 42 to 73 individuals per 100,000 of the population in the United States, while the prevalence in Japan, China, and India is around 36 to 125 per 100,000 individuals, as of 2021. Moreover, improvement in the diagnostic technologies, penetration of AI in medical diagnostics, and rising awareness amongst people regarding tests and diagnosis are anticipated to boost the market growth. Furthermore, the increasing healthcare expenditure across the globe, is forecasted to encourage the growth of the market.
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The market is segmented by application into cystic fibrosis, diabetes mellitus, chronic pancreatitis, pancreatic insufficiency, and others out of which, the chronic pancreatitis segment is anticipated to hold a substantial share in the global pancreatic elastase testing market over the forecast period. The growth of the segment can be accredited to the high prevalence of chronic pancreatitis across the globe, along with the rising cases of pancreatic cancer. Pancreatitis, if left untreated, can lead to cancer in the pancreas. The growth in the average alcohol consumption, as a part of the changing modern lifestyle, is also estimated to encourage the segment growth, as alcohol consumption is a major cause for chronic pancreatitis.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Pancreatic Elastase Testing Market Regional Synopsis
On the basis of geographical analysis, the global pancreatic elastase testing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness modest growth over the forecast period on the back of improving healthcare infrastructure in the developing countries, along with the growing prevalence of pancreatic cancer in the region.
The market in the North America region is anticipated to gain a significant market share throughout the forecast period owing to the growing prevalence of chronic pancreatitis in the region. According to the data by the National Pancreas Foundation, the prevalence of chronic pancreatitis is 50 per 100,000 individuals in the United States, and is more common in men than women.
On the other hand, the market in Europe occupied the largest market share in 2021, owing to the presence of the advanced healthcare facilities, favorable health insurance and reimbursement policies, and high healthcare expenditure in the developed countries, such as, Germany, Switzerland, France, Sweden, Norway, and Denmark.
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The global pancreatic elastase testing market is further classified on the basis of region as follows:
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North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
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Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global pancreatic elastase testing market includes the following segments:
By Application
- Cystic Fibrosis
- Diabetes Mellitus
- Chronic Pancreatitis
- Pancreatic Insufficiency
- Others
By End-User
- Diagnostic Centers
- Hospitals and Clinics
- Pathology Laboratories
- Research Centers
- Others
Growth Drivers
- Increasing Prevalence of Chronic Pancreatitis
- Rapid Advancement in the Diagnostic Technologies
- High Global Health Expenditure
Challenges
- Requirement of High Initial Investment
- Lack of Researchers and Practitioners in Pathological Science
Top Featured Companies Dominating the Market
- Thermo Fisher Scientific Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Bio-Rad Laboratories, Inc.
- F. Hoffmann-La Roche Ltd.
- Hologic, Inc.
- BIOMERIEUX PLC
- Becton, Dickinson and Company
- Bioserv Diagnostics Gmbh
- Novozymes A/S
- AB Enzymes GmbH
- Buhlmann Diagnostics Corp
