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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Report ID: 4566 | Published On: Jan 30, 2023

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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. Purchasing 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.


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Global Pancreatic Stone Protein Market Definition

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. Protein X, human pancreatic thread, and pancreatic stone protein are different types of proteins secreted by the pancreas. The pancreatic stone protein test is found to play a major role in the formation of pancreatic stones in the future.

The early diagnosis of any disease helps to prevent the hazards caused to the patient over time. The pancreatic stone test is one such early diagnostic test that is useful to manage stone formation in the pancreas. The diagnosis includes testing with techniques such as ELISA or fluorescent immunoassay. A multiorgan dysfunction called sepsis is most common in underdeveloped and low-income countries, and the pancreatic stone protein test is the diagnosis for this disorder.

The pancreatic stone protein acts as a biomarker to detect many diseases, including diabetes, acute appendicitis, optic atrophy, and wolfram syndromes. Sepsis leads to reduced blood pressure, infection, and damage to multiple organs, which is lethal. The gallstones or pancreatic stones are caused by cholesterol in the blood, an improper diet, or metabolic disorder, and this cholesterol is deposited in the bile.


Global Pancreatic Stone Protein Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~3%

Base Year Market Size (2022)

~ USD 4 Billion

Forecast Year Market Size (2033)

~ USD 5 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)


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

The global pancreatic stone protein market is estimated to garner a revenue of USD 5 Billion 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 USD 4 Billion in the year 2022. The growth of the market can 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 global pancreatic stone protein testing market 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 in 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. ranges from 20 to 50 per 100,000 population.

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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, a 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 and immunoassay devices are some of the global pancreatic stone protein testing market trends expected to fuel the market growth during the forecast period.

Global Pancreatic Stone Protein Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Prevalence of Diabetes Globally with Changing food habits

The World Health Organization states that 422 million people worldwide are diabetic; 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 a 27 to 79% chance of developing type 3c diabetes, which is further estimated to promote the adoption of pancreatic stone protein testing for diabetic patients.

  • Increasing Geriatric Population Around the World which Reduces Immunity 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 Among People – 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 with Lack of Early Diagnosis – As of 2022, nearly 62,000 people were diagnosed with pancreatic cancer and approximately 49,500 of them died in a similar year in the United States.

  • Globally Increasing Health Care Expenditure to Improve the Health of People - 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 Cost of Pancreatic Stone Protein (PSP) Testing
  • Highly Sensitive Testing Devices 
  • Accuracy Issues with PSP Biomarkers 

The PSP test may give false or misdiagnosed results as some of the symptoms of the disease are similar to Parkinson’s disease, Alzheimer’s disease, and neurodegenerative disorders. Sometimes the memory issues and change in behavior are misdiagnosed as symptoms of depression or dementia instead of PSP by the physicians. Hence, these factors of misdiagnosis are projected to limit the market growth in the coming years.


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Market Segmentation

The global pancreatic stone protein 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 worldwide. In recent years, the number of patients with severe sepsis has increased from 25% to 42%. Sepsis is a more common disease that causes infection and affects the immune system of the body. Moreover, sepsis is a bacterial or viral infection that causes traumatic injury. The infection triggers the immune system and initiates the release of chemicals and immune mediators into the bloodstream to fight the infection. This leads to inflammation, blood clots, and bleeding from blood vessels that cause organ damage.

The global pancreatic stone protein market is also segmented and analyzed for demand and supply by age group into infant, children, adults, and geriatric. Amongst these segments, the adults segment is expected to garner a significant share. The elderly population is suffering from acute pancreatitis compared to younger people. The high risk of malnutrition in the elderly or aging population supports immunodeficiency making them more prone to the development of organ dysfunction. The severity of the disease is also very high in older people may be owing to atypical symptoms, reduced pancreatic protein production, impairment in immunity, and bacterial translocation.  The mortality rate of patients with acute pancreatitis in people aged 60-70 years is 0.8 per year which is approximately 20 times that in people aged under 20 as per estimations in 2019 across the globe. Further, the frequent cause of biliary lithiasis, lithogenic bile, and dilation of the bile duct, are common reasons for the incidence of acute pancreatitis in aged people. Alcohol consumption, idiopathic pancreatitis caused by genetic polymorphisms, environmental chemicals, and smoking habits are other also estimated to increase the risk of acute pancreatitis in the elderly. The high incidence of pancreatitis will lead to pancreatic failure or stone formation rising the aged patient population. All these factors drive the market segment’s growth during the forecast period.

Our in-depth analysis of the global pancreatic stone protein market includes the following segments:

                    By Technique

  • Elisa
  • Fluorometric Immunoassay

                   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


Global Pancreatic Stone Protein Market Regional Synopsis

The North America pancreatic stone protein market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the high adoption of technological advancements, a large patient pool, and a well-developed healthcare 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 global pancreatic stone protein testing market in the region during the forecast period. The rising awareness of people on early diagnosis and government initiatives to improve patient healthcare in the region are projected to rise the market growth. Moreover, the increasing disposable income of many middle-class people to afford their health needs rises the standards of living. Therefore, rising knowledge among people with internet penetration and the digitalization of everything has a huge impact on disease diagnosis and treatments. Hence, it is expected to boost the market’s growth in the region.

Pancreatic-Stone-Protein-Testing-Market-Scope.Top Featured Companies Dominating the Global Pancreatic Stone Protein Market


Pancreatic-Stone-Protein-Testing-Market-Scope.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the pancreatic stone protein testing market?

Ans: Increasing prevalence of diabetes globally along with rising demand for pancreatic stone protein testing as a biomarker are some of the major factors anticipated to drive the growth of the market.

2) What would be the CAGR of pancreatic stone protein testing market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~3% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the pancreatic stone protein testing market growth?

Ans: High price associated with pancreatic stone protein testing and inaccuracy with PSP biomarkers are some of the factors estimated to hamper market growth.

4) Which region will provide more business opportunities for growth of pancreatic stone protein testing market in future?

Ans: The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the pancreatic stone protein testing market?

Ans: The major players in the market are RayBiotech Life, Inc., 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, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the pancreatic stone protein testing market?

Ans: The market is segmented by technique, disease type, age group, end user, and by region.

8) Which segment captures the largest market size in the disease type segment in the pancreatic stone protein market?

Ans: The sepsis disease segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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