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Gastroparesis Drugs Market Comprehensive Study by Leading Key Players: Allergan, Plc., Abbott Laboratories (Abbott Arzneimittel GmbH), AstraZeneca Plc., Cadila Pharmaceuticals Ltd., ETX Pharma, Inc. and more

01-04-2019 10:56 AM CET | Health & Medicine

Press release from: Allied Market Research

Gastroparesis Drugs Market

Gastroparesis Drugs Market

The Gastroparesis Drugs Market is valued at $ 4,667 million in 2016 and is expected to reach $ 6,486 million at an annual average growth rate of 4.7% from 2017 to 2023.

Gastroparesis affects the normal spontaneous movement of the stomach muscles and therefore interferes with normal digestion, causing nausea, vomiting, blood sugar levels and nutritional problems. Gastric paralysis can be caused by diabetes or after surgery. Recently, advanced drugs such as metoclopramide, erythromycin, and anti-vomiting drugs have been developed to treat gastroparesis.

The major factors that drive the growth of the global gastroparesis drugs market are rise in number of surgeries that may lead to postoperative gastroparesis, increase in diabetic population, introduction of novel drugs, and surge in geriatric population.

However, side effects associated with gastroparesis drugs and time-consuming regulatory approvals are expected to restrain the market growth. Conversely, huge untapped market potential in the emerging countries, such as China and India, and development of novel gastroparesis drugs are expected to provide lucrative opportunities to the market players.

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The list of key players profiled in this report Include
• Allergan Plc.
• Abbott Laboratories (Abbott Arzneimittel GmbH)
• AstraZeneca Plc.
• Cadila Pharmaceuticals Ltd.
• ETX Pharma Inc
• Evoke Pharma
• GlaxoSmithKline Plc.
• Neurogastrx Inc.
• Valeant Pharmaceuticals International Inc.
• Theravance Biopharma.

Key players in the value chain include Altos Therapeutics LLC, Mylan N.V., Hexal AG, CEVA Group PLC, and Takeda Pharmaceutical Company Ltd.

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The prokinetic agents segment occupied the largest share in 2016, owing to the high usage, applicability, and availability of prokinetic agents for treating gastroparesis. Furthermore, the botulinum toxin injection segment is expected to grow at the highest CAGR of 5.6% from 2017 to 2023, and is anticipated to continue its dominance during the forecast period. The utilization rate of gastroparesis drugs for idiopathic gastroparesis is high, however post-surgical gastroparesis segment is expected to grow at a CAGR of 5.2% during the forecast period. This is attributed to increase in incidence of various types of surgeries, such as transplantation, which result in postsurgical gastroparesis.

Key findings of the Gastroparesis Drugs Market:
• Prokinetic agents segment accounted for more than four-fifths share of the global gastroparesis drugs market in 2016.
• Botulinum toxin injection segment is expected to grow at a CAGR of 5.6% from 2017 to 2023.
• Idiopathic gastroparesis segment accounted for around 34.9% share of the global gastroparesis drugs market in 2016.
• Hospitals accounted for nearly two-fifths share of the global gastroparesis drugs market in 2016.
• Pharmacies segment is expected to grow at a CAGR of 5.0% from 2017 to 2023

North America was the leading revenue contributor to the global gastroparesis drugs market, accounting for nearly one-third of the global market. This is attributed to the early approval of gastroparesis drugs and high use of these drugs due to rise in incidence of gastroparesis. However, Asia-Pacific is expected to grow at the highest CAGR of 5.5% during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness toward gastroparesis drugs.

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About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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