PUBLISHER: The Business Research Company | PRODUCT CODE: 1518318
PUBLISHER: The Business Research Company | PRODUCT CODE: 1518318
Gastroparesis drugs are medications utilized to handle and address gastroparesis, a condition characterized by delayed emptying of the stomach, leading to symptoms such as nausea, vomiting, and abdominal discomfort. Typically, these medications consist of prokinetics to enhance stomach motility, antiemetics to regulate nausea and vomiting, and drugs to alleviate pain and other associated symptoms.
The primary categories of gastroparesis drugs consist of over-the-counter (OTC) medications and prescription drugs. Over-the-counter (OTC) drugs are those available for purchase without a prescription from a healthcare provider. These medications are utilized for treating various forms of gastroparesis, including diabetic gastroparesis, post-surgical gastroparesis, idiopathic gastroparesis, among others, and are administered through various routes such as oral ingestion, injection, and others. They encompass various types of drugs such as prokinetic agents, antiemetics, proton pump inhibitors, among others, which are distributed through hospitals, pharmacies, clinics, and online platforms.
The gastroparesis drugs market research report is one of a series of new reports from The Business Research Company that provides gastroparesis drugs market statistics, including gastroparesis drugs industry global market size, regional shares, competitors with a gastroparesis drugs market share, detailed gastroparesis drugs market segments, market trends and opportunities, and any further data you may need to thrive in the gastroparesis drugs industry. This gastroparesis drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The gastroparesis drugs market size has grown strongly in recent years. It will grow from $5.09 billion in 2023 to $5.39 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to gastrointestinal motility research, side effects of existing treatments, clinical need, regulatory support, and patient advocacy.
The gastroparesis drugs market size is expected to see strong growth in the next few years. It will grow to $6.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated expansion in the forecast period is linked to the heightened occurrence of diabetes, the aging demographic, heightened awareness and diagnosis rates, augmented healthcare spending, and support from both governmental and private sectors. Key trends anticipated during this period encompass progressions in gastroenterology, enhancements in diagnostic methodologies, technological breakthroughs, increased research funding, and collaborative research initiatives.
The surge in diabetes prevalence is anticipated to drive the progression of the gastroparesis drugs market in the foreseeable future. Diabetes, characterized by elevated blood sugar levels due to insufficient insulin production or its ineffective utilization, persists as a significant health concern. Factors contributing to the escalating diabetes rates include sedentary lifestyles, poor dietary habits, genetic predisposition, urbanization, and aging populations, alongside limited healthcare access and escalating global obesity rates. Gastroparesis drugs are commonly prescribed to diabetic patients to mitigate symptoms such as nausea, vomiting, and delayed stomach emptying, common complications arising from impaired gastrointestinal motility associated with diabetes. These medications aim to ameliorate gastric function and enhance the quality of life for individuals grappling with diabetes-related gastroparesis. For instance, as reported by the International Diabetes Federation in 2021, the projected number of individuals afflicted by diabetes is anticipated to soar to 643 million by 2030 and 783 million by 2045. Hence, the escalating prevalence of diabetes underscores the expansion of the gastroparesis drugs market.
Major players in the gastroparesis drugs sector are directing their efforts towards introducing innovative medications, such as the Gimoti (metoclopramide) nasal spray, to enhance their market competitiveness. Gimoti (metoclopramide) nasal spray is a pharmaceutical designed to alleviate symptoms of gastroparesis in adults, fostering stomach emptying by bolstering gastrointestinal motility. By circumventing the gastrointestinal tract, it is absorbed directly into the bloodstream via the nasal mucosa. For example, in April 2022, Evoke Pharma Inc., a pharmaceutical company based in the United States, disclosed that the U.S. Food and Drug Administration (FDA) had granted GIMOTI (metoclopramide) nasal spray new drug product exclusivity. This exclusivity affords Evoke exclusive marketing privileges for three years following the initial approval date, as per the Hatch-Waxman Act, shielding the product from generic competition.
In June 2022, Eagle Pharmaceuticals Inc., a pharmaceutical firm headquartered in the United States, completed the acquisition of Acacia Pharma Group plc for $102 million (€94.7 million). Through this acquisition, Eagle Pharmaceuticals intends to broaden its range of offerings by integrating Acacia's FDA-approved hospital products, BARHEMSYS and BYFAVO, which cater to unmet clinical demands in acute care environments. Acacia Pharma Group plc, based in the United Kingdom, specializes in providing antiemetic medications utilized in gastroparesis treatment.
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.
North America was the largest region in the gastroparesis drugs market in 2023. 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.
The countries covered in the gastroparesis drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The gastroparesis drugs market consists of sales of ondansetron, metoclopramide, amitriptyline, and erythromycin. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Gastroparesis Drugs Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on gastroparesis drugs market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for gastroparesis drugs ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The gastroparesis drugs market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.