The value of the worldwide pancreatin market is anticipated to rise from US$ 107.2 Mn at present to US$ 183.9 Mn by 2032, expanding at a CAGR of 5.5%. The two regions that consume the most pancreatin are Europe and North America. Throughout the historical period, the pancreatin market showed consistent growth and recorded a value CAGR of 4.3%. (2017-2021). Enzymes have a distinctive advantage for the health of both people and animals. This can be demonstrated by the uses it has, which are expanding as a result of enzyme research and development.
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What are the Key Trends in the Pancreatin Market?
“Pancreatin as Treatment for Lifestyle Disorders”
Pancreatin is an enzyme-based product derived from trypsin, amylase & lipase, ribonuclease, and protease produced by the exocrine cells of the porcine and bovine pancreas. These enzymes help in the hydrolyzation of proteins starch and fat.
Increased rates of obesity, gallstones, and other lifestyle disorders have highlighted the prevalence of acute pancreatitis worldwide. Chronic pancreatitis is lower in incidence but plays a significant role in reducing the quality of life of an individual. Pancreatic disorders such as pancreatic cancer are estimated to increase in the global population over time due to increasingly hectic lifestyles and stress on the body.
The corporate lifestyle has increased the consumption of alcohol and this has heightened the sensitivity of the pancreas to injury. The risk of pancreatitis is increasing as the intake of alcohol goes up. Across the globe, increasing alcohol consumption among the younger generation has put them at an increased risk for pancreatic disorders. Pancreatin is effective in mitigating the effects of digestive disorders and gallstones. Furthermore, a higher prevalence of intestinal diseases, coupled with pancreatic surgeries, will promote market growth in the near future.
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Competitive Dashboard
In the Pancreatin Market, nutraceutical and pharmaceutical applications of enzymes are widely commercialized. This is due to the increasing demand for high-quality nutritional supplements and medicines. To achieve this, the implementation of the latest technologies as well as investments in research and development is being done. Improving customer relations along with increasing awareness about pancreatin is helping companies distinguish themselves in this highly competitive landscape.
Biozyme launched a Pancreas Process Program to increase the processing capacity of raw pancreas from animals in the U.S. This was done to reduce the overseas costs of pancreatin processing, which resulted in a reduction in the cost of the product itself.
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