Press release
Soaring Demand Set to Propel Gastroparesis Drugs Market to $7.04 Billion by 2029
Gastroparesis Drugs
What Is the Expected CAGR for the Gastroparesis Drugs Market Through 2025?
The market size for drugs used to treat gastroparesis has seen a substantial upswing in previous years. Projected growth indicates a rise from $5.39 billion in 2024 to $5.7 billion in 2025, boasting a compound annual growth rate (CAGR) of 5.7%. Factors such as side effects from current treatments, advances in gastrointestinal motility research, clinical necessities, patient support, and regulatory fortification contributed to the historic growth.
What's the Projected Size of the Global Gastroparesis Drugs Market by 2029?
In the forthcoming years, the market for gastroparesis drugs is expected to witness substantial growth, with an estimation to reach a market size of $7.04 billion in 2029, boasting a compound annual growth rate (CAGR) of 5.4%. Factors contributing to this surge include the mounting prevalence of diabetes, an aging demographic, heightened awareness and diagnosis rates, a rise in healthcare expenditure, along with both government and private financial backing. Notable trends during the projection period consist of advancements within the field of gastroenterology, enhanced diagnostic methodologies, technological breakthroughs, research grants, and joint research initiatives.
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Top Growth Drivers in the Gastroparesis Drugs Industry: What's Accelerating the Market?
The surge in diabetes instances worldwide is forecasted to bolster the gastroparesis drugs market's expansion. Diabetes is a chronic medical condition characterized by elevated blood glucose levels due to insufficient insulin production or the body's inability to effectively use insulin. The growth in diabetes instances is fuelled by factors such as inactive lifestyles, poor dietary practices, genetic susceptibility, urbanization, and aging groups, coupled with limited healthcare accessibility and escalating global obesity figures. Gastroparesis drugs are commonly administered to diabetic individuals to mitigate symptoms like nausea, vomiting, and delayed gastric emptying, which are typical diabetes repercussions impacting gastrointestinal mobility. The objective of these treatments is to bolster gastric functionality and enhance the life quality of people suffering from diabetes-related gastroparesis. As an example, the Office for Health Improvement & Disparities, a government entity based in the UK, reported in March 2024 that between March 2022 and March 2023, the percentage of individuals with type 1 diabetes undergoing all eight suggested care procedures rose by 22%, with a 21% rise seen in type 2 diabetes, while the percentage achieving the target HbA1c levels ascended to 37.9%. This value is the highest ever recorded by the National Diabetes Audit (NDA). Consequently, the proliferating instances of diabetes are fuelling the growth of the gastroparesis drugs market.
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What Trends Will Shape the Gastroparesis Drugs Market Through 2029 and Beyond?
Leading firms in the gastroparesis drugs sector are prioritizing the launch of inventive drugs like Gimoti (metoclopramide) nasal spray, to secure a competitive advantage in the market. This medication, designed to alleviate gastroparesis symptoms in adults, facilitates stomach emptying by boosting gastrointestinal motility. Unlike conventional treatments, it sidesteps the gastrointestinal tract to be absorbed directly into the bloodstream via the nasal mucosa. For instance, Evoke Pharma Inc., a pharmaceutical organization based in the US, announced in April 2022 that they have been granted new drug product exclusivity for GIMOTI (metoclopramide) nasal spray by the U.S. Food and Drug Administration (FDA). This exclusivity conferred upon Evoke secures their marketing rights for three years post the original approval date under the Hatch-Waxman Act, thereby safeguarding the product against potential generic rivals.
What Are the Main Segments in the Gastroparesis Drugs Market?
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
Subsegments:
1) Over-the-counter (OTC) Drugs: Antacids, Anti-Nausea Medications, Antiemetics, Digestive Enzyme Supplements
2) Prescription Drugs: Prokinetic Agents, Antiemetic Drugs, Antibiotics, Antidepressants
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Which Top Companies are Driving Growth in the Gastroparesis Drugs Market?
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.
Which Regions Will Dominate the Gastroparesis Drugs Market Through 2029?
North America was the largest region in the gastroparesis drugs market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gastroparesis drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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