Pharmaceutical Industry to Drive Pepsin Market Growth, Projects Fact.MR
Published : 22 Nov 2021 Industry: Chemical & Materials
As per industry analysis on pepsin by Fact.MR, a market research and competitive intelligence provider, the global market is anticipated to top US$ 3 Bn in 2021, and expand at a steady CAGR of 4.7% over the forecast period 2021-2031.
Being one of the prominent consumers of pepsin, the pharmaceutical industry has always encouraged pepsin manufacturers to produce at a higher volume. Extensive use of pepsin in the production of digestive enzymes as a replacement therapy (e.g., cystic fibrosis, in chronic pancreatitis, after surgery on the pancreas or gut due to cancer of the pancreas), or as a supplement, is anticipated to boost market growth over the forecast period.
Pepsin aids in the treatment of digestive problems in general, as well as those caused by a deficiency of gastric juice production. It is used as a supplement for the treatment of anaemia, particularly during a weight reduction diet when protein intake is increased. It is also utilised in protein analysis as a research technique, and as a digestive syrup for heartburn, acid indigestion, and sour stomach. Pepsin is also found in appetite stimulant tablets and used for the making of cheese and other protein-rich foods.
All these factors will bode well for the growth of the pepsin market over the coming ten years.
Key Takeaways from Market Study
- Global pepsin market is anticipated to be valued at US$ 4.8 Bn by 2031
- The pharmaceutical sector is anticipated to hold dominance in the market over the forecast period and expand at a CAGR 4.4% through 2031.
- Over 69% of the production of pepsin is in the powder form.
- Grade type 1:10,000 pepsin holds a high market share of 41.8%, which was valued at over US$ 1.2 Bn in 2020.
- Pepsin use in industrial application is projected to increase at a CAGR of 4.7% through 2031.
“Uptick in consumption of digestive drugs to boost growth of pepsin market,” says a Fact.MR analyst.
Pepsin manufacturers have been concentrating on expanding their domestic and worldwide sales and distribution networks. Another method of market expansion used by manufacturers is to continuously improve product quality, while also launching products based on application.
There are only a few market participants functioning around the world, and A. Constantino & C has built a dedicated following. Other players with limited products or in the process of starting a pepsin business should concentrate on boosting production to meet global demand.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global pepsin market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of product form (powder pepsin and liquid pepsin), end-use sector (pharmaceuticals, industrial, food & feed, and other applications), and grade type (1:3,000, 1:10,000, 1:15,000, and other forms), across key regions, namely, North America, Latin America, Europe, Japan, Asia Pacific Except Japan, and the Middle East & Africa.
About the Chemicals and Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemicals and materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant – Chemicals and Materials