Press release
Remote diagnostic platforms to simulate the Diabetic Gastroparesis Market at a CAGR of 4.1%
Market Overview:
The global market is expected to register a CAGR of 4.1% over the forecast period (2016-2024) and reach a market valuation of US$ 3,769.3 Mn by 2024. While North America is expected to remain the most dominant market, the Asia Pacific market is anticipated to witness the highest CAGR of 4.5% during the forecast period.
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Company Profiles:
Janssen Global Services, LLC
Evoke Pharma
Cardinal Health, Inc.
Salix Pharmaceuticals, Inc.
Alfa Wassermann SPA
Abbott Laboratories
Medtronic Plc.
C. R. Bard, Inc.
Rhythm Pharmaceuticals, Inc.
Boston Scientific Corporation
Kimberly-Clark Corporation
Others
Drivers and Restraints:
The global diabetic gastroparesis market is being driven by factors such as the increasing prevalence of diabetes and the associated complications, rising geriatric population, changing lifestyles leading to a sedentary lifestyle and unhealthy dietary habits, and the adoption of advanced healthcare technologies. Additionally, the availability of various treatment options and the development of new drugs and therapies for diabetic gastroparesis are expected to further drive market growth.
Despite the growth drivers, there are some factors that are restraining the growth of the diabetic gastroparesis market, such as the high cost of treatment and lack of awareness about the disease and its treatment options in some regions. Moreover, the adverse effects associated with some of the drugs used in the treatment of diabetic gastroparesis may also hinder market growth. Additionally, the stringent regulatory requirements for the approval of new drugs and therapies may pose a challenge to the growth of the market.
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Market forecast by segmentation
The global market has been segmented on the basis of product type (drugs, surgical treatment products), disease indication (compensated gastroparesis, gastric failure), and distribution channel (hospital pharmacies, private clinics, drug stores, retail pharmacies, e-commerce).
The drugs product type segment is expected to account for the maximum revenue share of the global market by 2024. Sales revenue of this segment is anticipated to expand at a CAGR of 3.6% over the forecast period. Sales revenue of surgical treatment products is expected to increase at a CAGR of 5.0% over the forecast period owing to long-term relief provided by intervention. The compensated gastroparesis disease indication type segment is estimated to account for 66.1% share in the global treatment market by 2016 and is likely to register a CAGR of 4.5% over the forecast period.
The gastric failure disease indication type segment is expected to account for 33.9% share in the global treatment market by 2016. The hospital pharmacies distribution channel segment is expected to expand at a CAGR of 4.6% in terms of revenue over the forecast period. The e-commerce distribution channel segment is expected to account for 9.5% share in the global market by the end of 2016.
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