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Gastroparesis Drugs Market Analysis 2024-2033 : Forecast Market Size, Top Segments And Largest Region | Pfizer Inc., AbbVie Inc., Bayer AG, Sanofi SA., AstraZeneca plc, Abbott Laboratories, GSK plc, Takeda Pharmaceutical Inc
Gastroparesis Drugs Global Market Report 2024
As per the report, the gastroparesis drugs market size has grown strongly in recent years. It will grow from $5.09 billion in 2023 to $5.39 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The gastroparesis drugs market size is expected to see strong growth in the next few years. It will grow to $6.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%.
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Increasing Prevalence Of Diabetes Fuels Growth In The Gastroparesis Drugs Market
The increasing prevalence of diabetes is expected to propel the growth of the gastroparesis drugs market going forward. Diabetes presents as a persistent health issue marked by high blood sugar levels stemming from inadequate insulin production or the body's ineffective utilization of insulin. The increasing prevalence of diabetes is due to sedentary lifestyles, unhealthy dietary habits, genetic predisposition, urbanization, and aging populations, compounded by limited access to healthcare and rising obesity rates worldwide. Gastroparesis drugs are frequently prescribed for diabetic patients to alleviate symptoms such as nausea, vomiting, and delayed gastric emptying, common complications of diabetes affecting gastrointestinal motility. These medications aim to improve gastric function and enhance the quality of life for individuals with diabetes-related gastroparesis. For instance, in 2021, according to the International Diabetes Federation, a Belgium-based umbrella organization of over 240 national diabetes associations, the projected number of individuals living with diabetes is expected to increase to 643 million by 2030 and 783 million by 2045. Therefore, the increasing prevalence of diabetes is driving the growth of the gastroparesis drugs market.
Development Of Innovative Gastroparesis Treatment
Major companies operating in the gastroparesis drugs market are focusing on introducing innovative drugs, such as Gimoti (metoclopramide) nasal spray, to gain a competitive edge in the market. Gimoti (metoclopramide) nasal spray is a medication used to treat symptoms of gastroparesis in adults, improving stomach emptying by enhancing gastrointestinal motility. It bypasses the gastrointestinal tract and is absorbed directly into the bloodstream through the nasal mucosa. For instance, in April 2022, Evoke Pharma Inc., a US-based pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had granted new drug product exclusivity for GIMOTI (metoclopramide) nasal spray. This exclusivity gives Evoke exclusive marketing rights for three years from the original approval date under the Hatch-Waxman Act, protecting the product from generic competition.
The gastroparesis drugs market covered in this report is segmented -
1) By Drug Type: Over-the-counter (OTC) Drugs, Prescription Drugs
2) By Drug Class: Prokinetic Agents, Antiemetic Drugs, Proton Pump Inhibitors, Other Drug Classes
3) By Disease Type: Diabetic Gastroparesis, Post-Surgical Gastroparesis, Idiopathic Gastroparesis, Other Disease Types
4) By Route Of Administration: Oral, Injectables, Other Routes Of Administration
5) By Distribution Channel: Hospitals, Pharmacies, Clinics, E-commerce
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Major companies operating in the gastroparesis drugs market are Pfizer Inc., AbbVie Inc., Bayer AG, Sanofi SA., AstraZeneca plc, Abbott Laboratories, GSK plc, Takeda Pharmaceutical Inc., Teva Pharmaceutical Inc., Otsuka Pharmaceutical Co. Ltd., Bausch Health Companies Inc., Eisai Co. Ltd., Evoke Pharma Inc., Cadila Pharmaceuticals, Cipla Ltd., Neurogastrx Inc., Ipca Laboratories Ltd., ANI Pharmaceuticals Inc., Salix Pharmaceuticals Inc., Vanda Pharmaceuticals Inc., Theravance Biopharma Inc, Rhythm Pharmaceuticals Inc., Processa Pharmaceuticals Inc., Aclipse Therapeutics LLC, ETX Pharma Inc.
Contents of the report:
1. Executive Summary
2. Gastroparesis Drugs Market Report Structure
3. Gastroparesis Drugs Market Trends And Strategies
4. Gastroparesis Drugs Market - Macro Economic Scenario
5. Gastroparesis Drugs Market Size And Growth
…..
27. Gastroparesis Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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