Exocrine Pancreatic Insufficiency Market to Expand at 8.3% CAGR from 2015 to 2023
Exocrine pancreatic insufficiency (EPI) is a condition characterized by the deficiency of the exocrine pancreatic enzymes, causing failure to digest food properly. Exocrine pancreatic insufficiency is caused due to damage to pancreas.
Exocrine pancreatic insufficiency is a serious medical condition in which a patient is unable to fully process ingested food. This happens due to the inability of the pancreas to create the necessary amounts of digestive enzymes. Exocrine pancreatic insufficiency, or EPI, is very common among dogs, but is growing in prevalence among humans as well. It is usually a case found in humans that are already suffering from the Shwachman-Diamond Syndrome, or more commonly, cystic fibrosis.
Here are three questions, the answers to which are given by industry analysts from Transparency Market Research. These answers will shed light on how the global exocrine pancreatic insufficiency market is expected to fare in the near future.
Can the Global Exocrine Pancreatic Insufficiency Market be Deemed Appropriate for Investors?
At the moment, yes. The global exocrine pancreatic insufficiency market is progressing at a CAGR of 8.3% within a forecast period from 2015 to 2023, according to a Transparency Market Research report. By the end of 2023, this market is expected to be valued at US$2.85 bn. This speaks of the market’s investment potential from a generalized standpoint. There are many fields in this market that are expected to show phenomenal growth in comparison to the others. For instance, this market can be segmented according to diagnostic tests, into CT, MRI, EUS, and blood tests.
Till now, a computed tomography scan was primarily used to diagnose a patient for EPI. As a result, this test segment was leading the market in 2014. But the current scenario shows a major preference by doctors for using magnetic resonance imaging. MRIs are a lot more sensitive to EPI diagnostic patterns. Additionally, there is a high rate of market penetration of MRIs in the healthcare industry. As a result, investors could focus on the MRI segment in the near future for added growth rates and market benefits.
What Role do Diabetes and Cystic Fibrosis Prevalence Play in the Global Exocrine Pancreatic Insufficiency Market?
The global exocrine pancreatic insufficiency market is currently experiencing an overall healthy growth owing to the high prevalence of patients suffering from diabetes, chronic pancreatitis, and cystic fibrosis. Of these, cystic fibrosis and diabetes are considered to be the biggest factors propelling the need for better EPI treatments. According to the Cystic Fibrosis Foundation, there are more than 70,000 cystic fibrosis patients across the world and about 33,000 patients in the U.S. Additionally, more than a thousand new cases are being found every year. Each of these CF patients is more likely to be affected by EPI over time.
Diabetes is also very closely linked to EPI. Research has shown that both diabetes and EPI are interrelated, as one can easily become a causal factor for the other. And with over 25 million cases of diabetes in the U.S. alone, we can see that the global exocrine pancreatic insufficiency market needs to rush in order to cover the high imminent number of EPI patients over the coming years.
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Is the U.S. Equipped to Tackle These High EPI Numbers?
North America as a whole was the leading region in the global exocrine pancreatic insufficiency market in 2014. TMR reports further suggest that this region will likely stay in the lead till 2023. This can be attributed to the exceptionally high prevalence of cystic fibrosis, diabetes, and chronic pancreatitis in the region.
To concur, a study conducted by Aptalis, an Allegan Inc. subsidiary, reveals there are between 28 and 42 cases of chronic pancreatitis per 100,000 people in the U.S. each year. At least 30% of these CP patients are likely to develop EPI within ten years of CP diagnosis. But an advanced healthcare infrastructure, coupled with improvements in medical reimbursement policies, can help the region abet the rise of EPI across the world.
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