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Gastroparesis Market Size, Product Trends, Key Drivers, Share Analysis And Forecast To 2033
Gastroparesis Market Size
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According to The Business Research Company's, The gastroparesis market size has grown strongly in recent years. It will grow from $6.44 billion in 2023 to $6.8 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to aging population, increasing prevalence of diabetes, improved understanding of gastrointestinal disorders, evolving treatment protocols, growing awareness about gastroparesis.
The gastroparesis market size is expected to see steady growth in the next few years. It will grow to $8.19 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to development of novel therapeutic options, expansion of personalized medicine approaches, integration of digital health solutions, rise in healthcare infrastructure, increasing focus on early diagnosis. Major trends in the forecast period include advancements in gastric electrical stimulation therapy, growing research in stem cell therapy, adoption of minimally invasive surgical interventions, increased use of wearable health monitoring devices, focus on patient-centric care models.
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Market Drivers and Trends:
The increasing prevalence of gastroparesis is expected to propel the growth of the gastroparesis market. Gastroparesis is a medical condition that stops or delays food movement from the stomach to the small intestine. Hypothyroidism, autoimmune diseases, injury to the vagus nerve, and viral stomach infections cause gastroparesis. Gastroparesis medicine tightens and contracts the muscles in the stomach wall and improves gastric emptying. For instance, in 2021, according to a research study published by Practice Update, a Netherlands-based online publisher of research articles, in 2021 the overall prevalence rate of gastroparesis was 267.7 per 100,000 persons in the US. The prevalence rate of definite gastroparesis was 21.5 per 100,000 persons. As a result, the increasing prevalence of gastroparesis is driving the growth of gastroparesis treatment.
Major companies operating in the gastroparesis market are developing innovative devices to increase their profitability in the market. Devices for the treatment of gastroparesis are medical tools or equipment designed to help manage or alleviate symptoms associated with gastroparesis, a condition characterized by delayed emptying of the stomach. For instance, in 2022, Enterra Medical Inc., a US-based medical device company launched enterra therapy for the treatment of gastroparesis. The Enterra Therapy system employs an implanted neurostimulator to produce gentle electrical pulses, offering potential relief for symptoms of chronic nausea and vomiting linked to gastroparesis. This therapy is designated for individuals aged 18 to 70 years experiencing chronic, intractable (drug-refractory) nausea and vomiting associated with gastroparesis of diabetic or idiopathic origin.
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Major Key Players of the Market:
Pfizer Inc., GlaxoSmithKline plc., Abbott Laboratories Inc., AstraZeneca Plc., Medtronic Plc., Takeda Pharmaceutical Company Limited, Novo Nordisk AS, Johnson And Johnson Services Inc., Teva Pharmaceutical Industries Ltd, AbbVie Inc., Boston Scientific Corporation, Bausch Health Companies Inc., Cadila Pharmaceuticals Ltd., Daewoong Pharmaceutical co. ltd, ReGenXBio Inc., ANI Pharmaceuticals Inc., Dompe Farmaceutici S.p.A, Sucampo Pharmaceuticals Inc., Ironwood Pharmaceuticals Inc., Orexo AB, Theravance Biopharma Inc., RQI Partners LLC., RedHill Biopharma Ltd., Synthorx Inc., Valeant Pharmaceuticals International Inc., CinRx Pharma LLC., Ritter Pharmaceuticals Inc., Evoke Pharma Inc., Metacrine Inc., Neurogastrx Inc.
Gastroparesis Market 2024 Key Insights:
• The gastroparesis market size is expected to see steady growth in the next few years. It will grow to $8.19 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%.
• Gastroparesis Treatment Gains Momentum With Rising Cases
• New Devices Transforming Gastroparesis Management
• North America was the largest region in the gastroparesis market in 2023
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