Gastroparesis Drugs Market Overview
Gastroparesis Drugs Market Expected to Reach $6,486 Million, Globally, by 2023
PORTLAND, OREGON, UNITED STATE, March 31, 2022 /EINPresswire.com/ —
The global gastroparesis drugs market is segmented on the basis of drug class, disease type, distribution channel, and region. Based on drug class, the market is divided into prokinetic agents, antiemetic agents, and botulinum toxin injections. By disease type, it is classified into diabetic gastroparesis, idiopathic gastroparesis, postsurgical gastroparesis, and others. Depending on distribution channel, it is categorized into hospitals, pharmacies, clinics, and e-commerce. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
According to a new report published by Allied Market Research, titled, Gastroparesis Drugs Market, by Drug Class, Disease Type, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023,” the global gastroparesis market was valued at $4,667 million in 2016, and is projected to reach $6,486 million at a CAGR of 4.7% from 2017 to 2023.
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Key Market Segments
BY DISTRIBUTION CHANNEL
By Disease Type
By Drug Class
Botulinum Toxin Injections
Key findings of the Gastroparesis Drugs Market:
Prokinetic agents segment accounted for more than four-fifths share of the global gastroparesis drugs market in 2016.
Botulinum toxin injection segment is expected to grow at a CAGR of 5.6% from 2017 to 2023.
Idiopathic gastroparesis segment accounted for around 34.9% share of the global gastroparesis drugs market in 2016.
Hospitals accounted for nearly two-fifths share of the global gastroparesis drugs market in 2016.
Pharmacies segment is expected to grow at a CAGR of 5.0% from 2017 to 2023
North America was the leading revenue contributor to the global gastroparesis drugs market, accounting for nearly one-third of the global market. This is attributed to the early approval of gastroparesis drugs and high use of these drugs due to rise in incidence of gastroparesis. However, Asia-Pacific is expected to grow at the highest CAGR of 5.5% during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness toward gastroparesis drugs.
The major factors that drive the growth of the global gastroparesis drugs market are rise in number of surgeries that may lead to postoperative gastroparesis, increase in diabetic population, introduction of novel drugs, and surge in geriatric population. However, side effects associated with gastroparesis drugs and time-consuming regulatory approvals are expected to restrain the market growth. Conversely, huge untapped market potential in the emerging countries, such as China and India, and development of novel gastroparesis drugs are expected to provide lucrative opportunities to the market players.
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originally published at Health - Trend Magazine