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HEALTHCARE & PHARMACEUTICAL

Pancreatic Stone Protein Testing Market Analysis by Technique (ELISA and Fluorometric Immunoassay); by Disease Type (Sepsis, Acute Appendicitis, Diabetes, Optic Atrophy, and Deafness); by Age Group (Infant, Children, Adults, and Geriatric); and by End User (Hospitals, Specialty Clinics, Diagnostic Centers, and Pathology Laboratories) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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Global Pancreatic Stone Protein Testing Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~3%

Base Year Market Size (2022)

~ USD 4 Million

Forecast Year Market Size (2033)

~ USD 5 Million

The global pancreatic stone protein testing market is estimated to garner a revenue of about USD 5 Million by the end of 2033 by growing at a CAGR of ~3% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of around USD 4 Million in the year 2022. The growth of the market can primarily be attributed to the globally rising prevalence of chronic diseases caused by pancreatic stone formation. Some of these diseases include acute appendicitis, diabetes, gallstones, and optic atrophy which is expected to drive the demand for pancreatic stone protein testing during the forecast period. It was observed that, in American Indians, gallstones are prevalent at a rate of about 55% to 65%, while the rate in white adults of developed countries is approximately 8% to 15%. Likewise, the rate of acute pancreatitis symptoms is higher in developing countries as well as in developed countries. For instance, the annual incidence of acute pancreatic in the U.S. is 20 to 50 per 100,000 population.

Pancreatic-Stone-Protein-Testing-Market-Size

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The pancreatic stone protein testing procedure has proved to be extremely useful for the early detection and treatment of stone formation in the pancreas caused by a variety of chronic diseases and infections. It is used to detect pancreatic dysfunction and assess the severity of the condition in patients suffering from it. The global pancreatic stone protein testing market size is expected to expand during the forecast period owing to its potential for detecting life-threatening diseases and monitoring the response to treatment. Additionally, the increasing cases of chronic & hereditary pancreatitis, and pancreatic cancer worldwide are estimated to propel the growth of the global pancreatic stone protein testing market over the forecast period. According to the National Center for Biotechnology Information, pancreatic cancer diagnosis is the seventh leading cause of cancer-related death in the world. There have been 458,918 new cases of pancreatic cancer recorded globally in 2018, and there are estimated to be 355,317 new cases occurring until the year 2040. Furthermore, assay techniques such as ELISA as well as immunoassay devices are some of the global pancreatic stone protein testing market trends expected to fuel the growth of market during the forecast period.

Global Pancreatic Stone Protein Testing Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Prevalence of Diabetes Globally

The World Health Organization states that 422 million people worldwide are diabetic and each year, about 1.5 million people die of diabetes.

The rising need for pancreatic stone protein testing in diabetic patients, particularly in Type 3c, also known as pancreatogenic diabetes is expected to drive the market growth during the forecast period. It is estimated that there are more people with type 3c diabetes than type 1 diabetes, and Patients with pancreatitis diseases have about 27 to 79% chance of developing type 3c diabetes which is further estimated to promote adoption of pancreatic stone protein testing for diabetic patients.

  • Increasing Geriatric Population Around the World - According to the World Health Organization, the number of people aged over 60 years was 1 billion in 2019 and is expected to increase to 2.1 billion by 2050. 
  • Change in Lifestyle, Increasing Consumption of Alcohol – As per WHO, alcohol is a cause of more than 200 serious medical conditions. Worldwide, 3 million deaths are attributed to excessive alcohol consumption every year, which is 5.3 percent of all deaths.
  • Increasing Cases of Pancreatic Cancer – As of 2022, nearly 62,000 people were diagnosed with pancreatic cancer and approximately 49,500 of them died in a similar year. 
  • Globally Increasing Health Care Expenditure - In 2019, according to data provided by the World Bank, global health expenditures had grown from 9.7% of the world's GDP in 2018 to 9.83% in 2019.

Challenges

  • Higher Price Associated with Pancreatic Stone Protein (PSP) Testing
  • Highly Sensitive Testing Devices 
  • Accuracy Issues with PSP Biomarkers 

The global pancreatic stone protein testing market is segmented and analyzed for demand and supply by disease type into sepsis, acute appendicitis, diabetes, optic atrophy, and deafness. Amongst these segments, the sepsis disease segment is expected to garner the largest revenue by the end of 2033, backed by the growing number of cases of sepsis around the globe and increasing awareness among people about the early diagnosis of sepsis. The World Health Organization (WHO) estimates that every year, more than 49 million people suffer from sepsis, resulting in 11 million deaths worldwideIn recent years, the number of patients with severe sepsis has increased from 25% to 42%

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare-Expenditure-Per-Capita

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 Stone Protein Testing Market Regional Synopsis

Regionally, the global pancreatic stone protein testing market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033, backed by the high adoption of technological advancements, a large patient pool, and a well-developed health care infrastructure. According to the National Health Expenditure (NHE), healthcare spending in the United States increased by 9.7% in 2020, and this represents 19.7% of the nation's gross domestic product (GDP). Moreover, increasing awareness among the population, a strong economy, and a large number of key market players in the region are other factors anticipated to fuel the growth of the pancreatic stone protein testing market in the region during the forecast period.

Pancreatic-Stone-Protein-Testing-Market-Scope

The global pancreatic stone protein testing market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • 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) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • 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
  • 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 stone protein testing market includes the following segments:

By Technique

  • Elisa
  • Fluorometric Immunoassayy

By Diseases Type

  • Sepsis
  • Acute Appendicitis
  • Diabetes
  • Optic Atrophy
  • Deafness

By Age Group

  • Infant
  • Children
  • Adults
  • Geriatric

 

By End User

  • Hospitals
  • Specialty Clinics
  • Diagnostic Centers
  • Pathology Laboratories

Top Featured Companies Dominating the Global Pancreatic Stone Protein Testing Market

  • RayBiotech Life, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • CUSABIO TECHNOLOGY LLC
  • LifeSpan BioSciences, Inc
  • Abbexa Limited
  • Boster Biological Technology CO LTD
  • Aviva Systems Biology Corporation
  • Glenmed Professional Healthcare Solutions.
  • CREATIVE DIAGNOSTICS, Inc
  • Biomol GmbH
  • AMS Biotechnology (Europe) Limited

 

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