The Global Gastroparesis Treatment Market, by Drug (Metoclopramide, Erythromycin, Domperidone, and Others); Type (Diabetic gastroparesis, Idiopathic gastroparesis, and Post-surgical gastroparesis); Route of Administration (Intravenous, Nasal, and Oral); Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies); and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 8,061.9 Mn in 2022 and expected to exhibit a CAGR of 3.6% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing initiatives by researchers and regulatory bodies to support clinical trials and the development of novel treatment are expected to fuel the market growth. Moreover, a rise in the number of surgeries that leads to postsurgical gastroparesis is anticipated to drive the market growth. For instance, according to the data published by the American Society of Metabolic and Bariatric Surgery in 2021, the estimated number of bariatric surgeries performed in the U.S. from 2011 to 2019 was around 158,000 surgeries in 2011 which increased to 256,000 surgeries in 2019.
Global Gastroparesis Treatment Market – Impact of Coronavirus (COVID-19) Pandemic
The coronavirus (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared the COVID-19 a pandemic on March 11, 2020. The pandemic caused disruptions in conducting clinical trials. This may lead to a delay in product approvals and thereby hinder the market growth. Moreover, the COVID-19 pandemic has affected the economy by directly affecting production and demand, creating disruptions in distribution channels, and through its financial impact on companies and financial markets.
Browse 27 Market Data Tables and 31 Figures spread through 237 Pages and in-depth TOC on “Global Gastroparesis Treatment Market” - Forecast to 2030, Global Gastroparesis Treatment Market, by Drug (Metoclopramide, Erythromycin, Domperidone, and Others); Type (Diabetic gastroparesis, Idiopathic gastroparesis, and Post-surgical gastroparesis); Route of Administration (Intravenous, Nasal, and Oral); Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies); and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/gastroparesis-treatment-market-5123
Moreover, a strong focus on research and development by key market players is likely to propel the market growth. For instance, in 2019 In September, CinDome Pharma, Inc. a biopharmaceutical company announced that the first patient in a Phase 2 clinical trial of CIN-102 had been enrolled. The drug CIN-102 is being developed to treat gastroparesis. In October 2021, Processa Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, announced that the company received clearance from the U.S. Food and Drug Administration (FDA) to proceed with a Phase 2a clinical trial of PCS12852 in patients with moderate to severe gastroparesis
Key Takeaways of the Global Gastroparesis Treatment Market:
- The global gastroparesis treatment market is expected to exhibit a CAGR of 3.6% during the forecast period. Due to the limited efficacy of current treatment options and their considerable adverse effects, extensive research into therapeutic possibilities for gastroparesis is ongoing. Relamorelin, prucalopride, and aprepitant are three promising experimental pharmacologic medicines. These advances in the treatment methods of gastroparesis will result in the growth of the global gastroparesis treatment market.
- Based on drug, the metoclopramide segment is estimated to grow with the fastest CAGR in the global gastroparesis treatment market over the forecast period. Promising therapeutic effects of metoclopramide is likely to drive its demand and fuel the market growth.
- In terms of type, the diabetic gastroparesis segment grow at a fastest CAGR during 2022 to 2030. An increase in the prevalence of diabetes is anticipated to drive the segment growth. For instance, according to International Diabetes Federation, in 2021 approximately 537 million adults were living with diabetes.
- Based on route of administration, the nasal segment grow with the fastest CAGR during the forecast period. Approval for technologically advanced products administered through nasal route is likely to fuel the segment growth. For instance, GIMOTI (metoclopramide) nasal spray, the first and only nasally-administered product indicated for the relief of symptoms in adults with acute and recurrent diabetic gastroparesis had received approval from the U.S. Food and Drug Administration (FDA) in 2020.
- Among distribution channel, the retail pharmacies segment is estimated to grow with the fastest CAGR over the forecast period in the global gastroparesis treatment The retail pharmacies segment is expected to account for a significant market share in 2022, owing to patients’ preference for retail pharmacies, as well as the increasing number of retail or independent pharmacies across the globe. For instance, according to the PLOS Journal’s August 2017 findings, independent pharmacies in the U.S. increased from 22,737 in 2007 to 23,596 in 2015, which witnessed a growth of 3.8%.
- Among regions, Asia Pacific is anticipated to expand at the highest CAGR in the gastroparesis treatment market growth over the forecast period. The Asia Pacific market is untouched by the key market players, focus on improving awareness regarding the treatment options, which will create opportunity to the market key players in the region
- Major players operating in the global gastroparesis treatment market include Processa Pharmaceuticals, Inc., EVOKE PHARMA, Neurogastrx, Inc., Vanda Pharmaceuticals Inc., ANI Pharmaceuticals, Inc., Takeda Pharmaceutical Company Limited, GlaxoSmithKline plc., Otsuka Holdings Co., Ltd., CinDome Pharma, Inc., PTC Therapeutics, Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Atlantic Healthcare, and Salix Pharmaceuticals
