Pancreatic Stone Protein Testing Market Trends

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 – Pancreatic stone protein testing also acts as cancer biomarkers, thus the surge in the number of pancreatic cancer cases is further expected to drive the market’s growth. 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.