Diabetic Gastroparesis Market will possibly reach US$ 3,769.3 Mn by 2024

According to the latest market report published by Persistence Market Research titled “Diabetic Gastroparesis Treatment Market: Global Industry Analysis and Forecast, 2016 – 2024”, revenue from the global diabetic gastroparesis treatment market is projected to register a CAGR of 4.1% during the forecast period (2016–2024). Diabetic gastroparesis is the symptom of delayed gastric emptying affecting patients suffering from Type-1 and Type-2 diabetes. The disease primarily has no cure but its symptoms are treatable via various types of drugs and devices. The global diabetic gastroparesis treatment market was valued at US$ 2,650 Mn in 2015, which is expected to increase to US$ 3,769.3 Mn by 2024. The report analyzes the global diabetic gastroparesis treatment market in terms of market value on the basis of product type, disease indication, and distribution channel; and provides information regarding regional market dynamics, regulations, current trends, market estimations, and forecast.

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Rising prevalence of Type-1 and Type-2 diabetes with high unmet medical needs, growing demand for minimally invasive treatment for refractory gastroparesis, and availability of reimbursement for in-patient hospital stays are driving growth of the global diabetic gastroparesis treatment market. Increasing use of diabetic gastroparesis drugs to control symptoms such as nausea and vomiting is anticipated to fuel growth of the global diabetic gastroparesis treatment market over the forecast period. However, usage of non-prescription drugs to control the symptoms restricts diagnosis of stage 1 and stage 2 gastroparesis. Lack of clinical evidence on improvement offered by prescription drugs and termination of clinical trials are factors expected to hamper growth of the global diabetic gastroparesis treatment market over the forecast period.

The global diabetic gastroparesis treatment market has been segmented on the basis of product type into drugs and surgical treatment products; on the basis of disease indication into compensated gastroparesis and gastric failure; and on the basis of distribution channel into hospital pharmacies, private clinics, drug stores, retail pharmacies, and e-commerce. Among product types, the drugs segment dominated the market with maximum revenue share of 66% in 2015 followed by the surgical treatment product segment with 34% share. Enhanced development of novel products such as the domperidone drug for the treatment of gastric motility disorder are expected to fuel the growth of the drugs segment over the forecast period. The hospital pharmacies segment is estimated to account for the highest market revenue share of 48.0% in the global diabetic gastroparesis treatment market by the end of 2016.

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The report covers the global diabetic gastroparesis treatment market across five key regions namely North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). North America is expected to remain the dominant market throughout the forecast period, driven by rise in healthcare expenditure, increasing demand for metoclopramide agents in the management of diabetic gastroparesis disease, increasing research on antibodies and other innovative prokinetics drug delivery formats, and technological advancements. Revenue from the diabetic gastroparesis treatment market in North America is expected to register a CAGR of 4.4% over the forecast period. Asia Pacific is expected to remain the second-most lucrative market for diabetic gastroparesis treatment, with an estimated CAGR of 4.5% over the forecast period.

Some of the top companies profiled in the report are Janssen Global Services, LLC, Salix Pharmaceuticals, Inc., Abbott Laboratories, Medtronic, C. R. Bard, Inc., Kimberly-Clark Corporation, Boston Scientific Corporation, Cardinal Health, Inc., Rhythm Pharmaceuticals, Inc., Evoke Pharma, and Alfa Wassermann SPA. Leading market players are continuously introducing novel products to enhance their product portfolio, increase market share, and expand customer base.

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This release was published on openPR.