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Gastric Volvulus Treatment Market Demand, Share, Trends, Forecast, and Overview 2024-2033
Gastric Volvulus Treatment Market Demand
According to The Business Research Company's, The gastric volvulus treatment market size has grown strongly in recent years. It will grow from $25.6 billion in 2023 to $27.18 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to advancements in surgical techniques, improved diagnostic technologies, awareness and education, rise in minimally invasive procedures, research and clinical studies..
The gastric volvulus treatment market size is expected to see strong growth in the next few years. It will grow to $34.63 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to regulatory changes and approvals, innovations in surgical procedures, growing geriatric population, customized treatment plans, adoption of advanced imaging techniques.. Major trends in the forecast period include minimally invasive surgical techniques, awareness and early intervention, research in treatment modalities, collaborative medical practices, customized treatment approaches..
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Market Drivers and Trends:
A rising geriatric population is expected to propel the growth of the gastric volvulus treatment market going forward. The geriatric population refers to older adults 65 years and beyond. The geriatric population suffers from various diseases due to low immunity and age. Gastric volvulus occurs in older adults over the age of 50, hence, the rise in the geriatric population is expected to propel the market. For instance, in November 2022, according to America's Health Rankings, a US-based partnership between the United Health Foundation and the American Public Health Association, in 2021, more than 55.8 million people aged 65 and above were present in the United States, accounting for nearly 16.8% of the total population. Therefore, rising geriatric populations are driving the gastric volvulus treatment market.
Product innovations are a key trend gaining popularity in the gastric volvulus treatment market. Major companies operating in the market are introducing innovative products to sustain their position in the gastric volvulus treatment market. For instance, in October 2023, Pfizer Inc., a US-based pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had approved VELSIPITY (etrasimod). VELSIPITY (etrasimod) is a once-daily oral sphingosine-1-phosphate (S1P) receptor activator for people with moderate to severe active ulcerative colitis (UC). VELSIPITY's official suggested dosage is 2 mg. ELSIPITY allows adults with moderately to severely active UC to achieve steroid-free resolution with an oral, once-daily pill that has a positive benefit-risk profile. The FDA's approval of VELSIPITY today marks an important turning point for UC patients who require novel therapies for this long-term illness and are ready to begin advanced therapy.
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Major Key Players of the Market:
PAI Pharma; Sun Pharmaceutical Industries Ltd.; ANI Pharmaceuticals Inc.; Fresenius SE and Co. KGaA; Mayne Pharma Group Limited; Sawai Pharmaceutical Co.Ltd.; Teva Pharmaceutical Industries Ltd.; Glenmark Pharmaceuticals Ltd.; Tris Pharma Inc.; Pfizer Inc.; Mallinckrodt Pharmaceuticals; Mylan N.V.; GlaxoSmithKline plc; Endo International plc; Vintage Labs; Zydus Group; Bayer AG; AbbVie Inc.; Amgen Inc.; Johnson & Johnson Services Inc.; UCB S.A.; Novartis International AG; Merck & Co. Inc.; Bristol-Myers Squibb Company; Sanofi S.A.; Celltrion Inc.; HanAll Biopharma; AstraZeneca plc; ACROBiosystems Inc.; Alomone Labs Ltd.
Gastric Volvulus Treatment Market 2024 Key Insights:
• The gastric volvulus treatment market will grow to $34.63 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
• Growing Geriatric Demographics Fueling Advancements In The Gastric Volvulus Treatment Market
• Product Innovation In Gastric Volvulus Treatment Market
• North America was the largest region in the gastric volvulus market in 2023
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