QY Research has published a new report about the global pancreatin market. The research report sheds light on the market dynamics influencing the demand and supply of pancreatin globally. The research report, titled “Global Pancreatin Industry Research Report Growth Trends and Competitive Analysis 2019-2025,” discusses the future of the market with an in-depth insight into the ever-changing trends. The research report includes an assessment of the segments in the market to offer the readers a granular view. It is a comprehensive publication that includes assessment of top players and their expansion plans for the forecast period.
According to the research report, the global pancreatin industry is expected to surge at a CAGR of 2.6% between 2019 and 2025. The market is expected to reach a valuation US$110 mn by the end of 2025.
Global Pancreatin Industry: Drivers and Opportunities
Global pancreatin market is expected to soar in the coming years as the incidence of pancreatic disorders continue to be on the rise. Improving diagnostics are a major reason for the increasing demand for pancreatin across the healthcare industry. This digestive enzyme is primarily used for treating conditions such as cystic fibrosis, pancreatitis, and surgical pancreatectomy. In addition to the growing demand for pancreatin in the pharmaceutical industry, the food processing industry is also projected to drive the global market. In the coming years, the market will also be driven by the lifestyle changes that are causing diseases related to the pancreas.
Global Pancreatin Industry: Segments
The global pancreatin industry is segmented on the basis product and type. The types of pancreatin available in the global industry are pancreatin powder and pancreatin pellets. As of 2016, the powder pancreatin segment held a share of 71%% in the overall market. However, it is expected to decline in the coming years. Application wise the market is segmented into food processing, pharma industry, and others. As of 2016, the pharmaceutical industry was leading the market with a whopping share of 63%.
Global Pancreatin Industry: Regional Segments
In terms of region, the global pancreatin industry is segmented into North America, Asia Pacific, Europe, Central and South America, and the Middle East and Africa. Out of these, the report suggests that Asia-Pacific was the key regional market as it held a share of 33% in 2016. The report also states that North America followed suit with a share of 23%. Asia Pacific is expected to lead as the region witnesses a burgeoning healthcare sector and rise of medical tourism.
Global Pancreatin Industry: Key Players
Some of the leading players operating in the global pancreatin industry are Shenzhen Hepalink, Nordmark, Chongqing Aoli, Sichuan Deebio, ALI, Sichuan, Biosyn, Biocatalysts, BIOZYM, Spectrum Chemicals, and Bovogen Biologicals. In a recent news, VIVUS and Nordmark announced an amendment to their existing agreement for manufacturing and supply of ANCREAZE Delayed Release Capsules. The agreement will allow the companies to develop a better formulation with a longer shelf life. Initiatives to improve formulations are expected to be one the key strategies of the companies in the global pancreatin industry.