Gastric Volvulus Treatment Global Market Outlook 2023-2032: Size And Growth Rate Analysis
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The global gastric volvulus treatment market is poised for growth, with an anticipated increase from $24.19 billion in 2022 to $25.73 billion in 2023, at a Compound Annual Growth Rate (CAGR) of 6.3%. As the market continues to evolve, one of the key drivers is the surging geriatric population. This demographic shift, coupled with advancements in treatment options, positions the market to reach $31.8 billion by 2027, showcasing a CAGR of 5.4%.
- Rising Geriatric Population: A Catalyst for Market Growth The geriatric population, encompassing individuals aged 65 and beyond, plays a pivotal role in propelling the gastric volvulus treatment market. With age comes an increased susceptibility to various diseases, owing to diminished immunity. Gastric volvulus, prevalent in individuals over 50, is expected to witness a rise in tandem with the expanding geriatric demographic. As per the United Nations Department of Economic and Social Affairs, the global population aged 65 and above is projected to surge from 9.3% in 2020 to approximately 16.0% in 2050. The World Health Organization further predicts a rise to 1.4 billion individuals over the age of 60 by 2030. This demographic shift establishes the foundation for the market’s growth.
- Geriatric Population Dynamics: The global population aged 65 and above is projected to rise from 9.3% in 2020 to around 16.0% in 2050.
- WHO Projections: An estimated 1.4 billion individuals over the age of 60 are expected by 2030.
- Key Players Shaping the Landscape Major players in the gastric volvulus treatment market are instrumental in developing and providing innovative solutions to address the rising healthcare needs. Sawai Pharmaceutical Co Ltd, Sun Pharmaceutical Industries Ltd, Pfizer Inc., and GlaxoSmithKline plc are among the key contributors steering advancements in gastric volvulus treatments.
- Trend: Product Innovations Driving Market Dynamics A notable trend in the gastric volvulus treatment market is the emphasis on product innovations by major companies. This focus on research and development has led to the introduction of novel treatment options. For instance, 9 Meters Biopharma, Inc., launched NM-002, a long-acting GLP-1 in a Phase 1b/2a trial for short bowel syndrome, leveraging proprietary XTEN technology to extend its circulating half-life. Pfizer’s acquisition of Arena Pharmaceuticals in December 2021 further reflects a strategic move to bolster its portfolio in gastroenterology, dermatology, and cardiology.
- NM-002 Launch: 9 Meters Biopharma introduced NM-002, a long-acting GLP-1, in a Phase 1b/2a trial for short bowel syndrome.
- Pfizer’s Acquisition: Pfizer acquired Arena Pharmaceuticals for $6.7 billion to enhance its expertise in inflammation and immunology.
- Market Segmentation: Tailoring Treatments to Diverse Needs The gastric volvulus treatment market is segmented to accommodate diverse patient needs, allowing for a nuanced approach to treatment. Segments include types of volvulus, treatment types, route of administration, distribution channels, and end-users.
- Volvulus Types: Organo-Axial Volvulus, Mesentero-Axial Volvulus
- Treatment Types: Medication, Surgery
- Route of Administration: Oral, Parenteral
- Distribution Channels: Hospital Pharmacy, Retail Pharmacy
- End-User Segmentation: Hospitals, Homecare, Specialty Clinics, Other End-Users
- Regional Dynamics: North America Leading, Asia-Pacific Emerging In 2022, North America took the lead in the gastric volvulus market, and the region is expected to maintain its dominance. Meanwhile, Asia-Pacific emerges as the fastest-growing region during the forecast period, underscoring the global nature of the gastric volvulus treatment market.
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