Acute pancreatitis (AP) is an inflammatory condition of the pancreas, marked by sudden onset of abdominal pain and, in severe cases, systemic complications such as multi-organ failure and pancreatic necrosis. Recent global data indicate a notable increase in AP incidence, with a 59% rise reported between 1990 and 2021. The highest burden has been observed in regions with high Socio-Demographic Index values, particularly North America and Europe. Gallstone-related biliary obstruction and chronic alcohol use account for the majority of cases worldwide. Additional causes include metabolic disturbances, certain medications, infections, and post-procedural complications, particularly following ERCP. While many cases resolve with supportive care, severe presentations require prompt fluid resuscitation, pain management, and nutritional support. The Revised Atlanta Classification remains the standard for diagnosis and severity stratification. Despite numerous clinical trials, no drug has yet demonstrated definitive efficacy in altering the course of the disease. However, early-phase trials of agents such as CM4620 (a CRAC channel inhibitor) have shown promise. This review consolidates current evidence on the causes, diagnostic approaches, and conservative management strategies for AP, with emphasis on recent developments and the ongoing need for targeted pharmacological therapies.