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Gastroparesis Drugs Market - Use of Gastroparesis Drugs Is Highest In North America, Owing To Increased Awareness about the Gastroparesis Condition and Heavy Expenditure by the Government on Healthcare, Followed By Europe and Asia-Pacific

02-21-2019 09:56 AM CET | Health & Medicine

Press release from: Allied Market Research

Gastroparesis Drugs Market

Gastroparesis Drugs Market

The Gastroparesis Drugs Market is projected to reach $ 6,448.6 billion, an average annual rate of 4.7% from 2017 to 2023.

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

The major factors leading to the growth of the world market for peritoneal paroxysmal drugs are the number of surgeries that can lead to postoperative gastroparesis, increase in diabetic population, introduction of new drugs and increase in the elderly population. However, side effects associated with gastroparesis drugs and time-consuming regulatory approvals are expected to curb market growth. On the contrary, untapped market potential in emerging markets such as China and India and the development of new gastroparesis preventive drugs are expected to provide a good opportunity for market participants.

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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.

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.

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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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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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