The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Gastroparesis Drugs Global Market Report 2024, the gastroparesis drugs market is expected to show significant growth in the forecast period.

The gastroparesis drugs market has experienced substantial growth in recent years and is expected to continue its upward trajectory. Here’s a detailed look at the market dynamics, key trends, and major players driving this expansion.

Market Growth and Forecast

• Current Market Size: The gastroparesis drugs market was valued at $5.09 billion in 2023.
• Short-Term Growth: It is projected to reach $5.39 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.8%.
• Long-Term Outlook: By 2028, the market size is anticipated to grow to $6.81 billion, with a CAGR of 6.0%.

Key Drivers of Growth:

• Historic Growth: The increase in market size from 2023 to 2024 is attributed to side effects of existing treatments, advancements in gastrointestinal motility research, clinical needs, patient advocacy, and regulatory support.
• Future Growth: In the forecast period, growth will be driven by the rising prevalence of diabetes, an aging population, improved awareness and diagnosis rates, higher healthcare expenditure, and increased funding from both government and private sectors.

View More On The Gastroparesis Drugs Market Report 2024 – https://www.thebusinessresearchcompany.com/report/gastroparesis-drugs-global-market-report

Increasing Prevalence of Diabetes

• Impact on Market: The rising prevalence of diabetes significantly influences the growth of the gastroparesis drugs market. Diabetes, characterized by high blood sugar levels, often leads to complications such as gastroparesis, which affects gastrointestinal motility.
• Contributing Factors: Factors such as sedentary lifestyles, unhealthy diets, genetic predisposition, urbanization, and aging populations contribute to the growing number of diabetic patients.
• Market Demand: Gastroparesis drugs are crucial for managing symptoms like nausea and delayed gastric emptying, thus improving the quality of life for diabetic patients. The International Diabetes Federation projects that the number of individuals with diabetes will rise to 643 million by 2030 and 783 million by 2045.

Major Companies and Innovations

• Key Players: Major companies in the gastroparesis drugs market include Pfizer Inc., AbbVie Inc., Bayer AG, Sanofi SA, AstraZeneca plc, Abbott Laboratories, GSK plc, Takeda Pharmaceutical Inc., Teva Pharmaceutical Inc., and many others.
• Innovative Treatments: Companies are focusing on developing new drugs to stay competitive. Notable innovations include:
  • Gimoti (metoclopramide) Nasal Spray: Introduced by Evoke Pharma Inc., this drug improves stomach emptying and gastrointestinal motility by bypassing the gastrointestinal tract and being absorbed through the nasal mucosa. The FDA granted new drug exclusivity for Gimoti in April 2022, protecting it from generic competition for three years.

Strategic Acquisitions and Market Expansion

• Eagle Pharmaceuticals’ Acquisition: In June 2022, Eagle Pharmaceuticals Inc. acquired Acacia Pharma Group plc for $102 million. This acquisition aims to enhance Eagle’s portfolio with Acacia’s FDA-approved antiemetic drugs, such as BARHEMSYS and BYFAVO, addressing unmet needs in acute care settings.

Market Segmentation

• By Drug Type: Over-the-counter (OTC) Drugs, Prescription Drugs
• By Drug Class: Prokinetic Agents, Antiemetic Drugs, Proton Pump Inhibitors, Other Drug Classes
• By Disease Type: Diabetic Gastroparesis, Post-Surgical Gastroparesis, Idiopathic Gastroparesis, Other Disease Types
• By Route of Administration: Oral, Injectables, Other Routes of Administration
• By Distribution Channel: Hospitals, Pharmacies, Clinics, E-commerce

Regional Insights

• Current Leader: North America was the largest market for gastroparesis drugs in 2023.
• Future Growth: Asia-Pacific is expected to be the fastest-growing region in the forecast period due to increasing healthcare investments and rising awareness.

In conclusion, the gastroparesis drugs market is poised for robust growth driven by advancements in treatment options, increasing diabetes prevalence, and strategic market expansions. As new drugs and innovative treatments emerge, the market will likely continue to expand, offering improved solutions for managing gastroparesis.

Request A Sample Of The Global Gastroparesis Drugs Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=15812&type=smp