Gastroparesis Drugs Market

Gastroparesis Drugs Market Highlights

The global gastroparesis drugs market is expected to cross a value of USD 8.3 billion by the end of 2032. The market was valued at USD 5.8 billion in 2023 and is expected to expand at a CAGR of 4.3% between 2024-2032.

• Over the mid-term, the rise in prevalence of diabetes is the primary factor anticipated to drive the global gastroparesis drugs market.
• The availability of limited treatment options for gastroparesis is a major factor to challenge the market growth.
• The North America gastroparesis drugs market is projected to dominate the global market.

Gastroparesis Drugs Market Outlook

The drugs that are used to manage the symptoms of gastroparesis are known as gastroparesis drugs. Gastroparesis is characterized by delayed emptying of the stomach contents into the small intestine. Gastroparesis drugs alleviate symptoms such as nausea, vomiting, abdominal pain, bloating, and early satiety, which are common manifestations of gastroparesis.

According to the opinion of KD Market Insights experts, the growth of the global gastroparesis drugs market is primarily related to the rise in prevalence of diabetes worldwide. The International Diabetes Federation have reported that globally 540 million people are living with diabetes and that by 2045, about 783 million people would be living with diabetes. This figure is an increase by 46% than the registered figure in 2021. Hence, as the diabetic population grows, so does the incidence of gastroparesis, thereby creating a larger market for medications targeting this condition. AbbVie Inc., Allergan plc (now part of AbbVie), and Takeda Pharmaceutical Company Limited are some of the significant parties in the global market for gastroparesis drugs.

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Gastroparesis Drugs Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the global gastroparesis drugs market are:

• Growing Awareness for Early Diagnosis of Gastroparesis: One of the major factors expected to drive the demand for gastroparesis drugs globally is the rise in awareness among healthcare professionals and patients about the symptoms and early diagnosis of the disease. In addition to this, the ongoing research and development efforts that is resulting in the discovery of new treatment options for gastroparesis, for instance, introduction of novel drugs, such as prokinetic agents, and gastric stimulants, that provide better therapeutic options to patients, are also expected to contribute to the market growth.
• Surge in Advancements in Drug Delivery: In the recent years, supported by the rising healthcare expenditure globally, which according to the World Bank touched 10.89% as a share of GDP in 2020 last, numerous advancements have been observed in the drug delivery techniques, including the extended-release formulations and active implantable medical devices among others. These advancements help in improving the effectiveness and convenience of gastroparesis drugs, thereby enhancing patient compliance and outcomes. Thus, the expanding range of available treatment options for gastroparesis, supported by the ongoing research and development for novel drugs, is expected to contribute to the growth of the market.

Which Probable Factors Could Hamper the Growing Gastroparesis Drugs Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of gastroparesis drugs are:

• Availability of Limited Treatment Options: The available treatment options for gastroparesis are limited, with few drugs approved specifically for this condition. This lack of diverse treatment options is therefore predicted to limit the expansion of the market.
• Growing Concerns for Side Effects of These Drugs: Many drugs used to treat gastroparesis, such as prokinetic agents like metoclopramide, are associated with significant safety concerns and side effects, such as, neurological side effects, cardiac arrhythmias, and gastrointestinal disturbances among others. Hence, such a factor is expected to hinder the growth of the market in the coming years.

How is the Global Gastroparesis Drugs Market Segmented?

Our experts at KD Market Insights have segmented the global gastroparesis drugs market as:

What are the Probable Factors Influencing the North America Gastroparesis Drugs Market Forecast?

The North America gastroparesis drugs market is majorly driven by the skyrocketing prevalence of diabetes in the region, along with the spur in healthcare expenditure that is promoting advancements in drug development. The United States Centers for Disease Control and Prevention (CDC) have reported that 38.4 million people in the United States were having diabetes in 2021, representing 11.6% of the population of the country. As diabetes is one of the leading causes of gastroparesis, hence, with the increasing prevalence of diabetes, the need to treat a larger patient population would also increase, thereby raising the demand for gastroparesis drugs. Further, as the region has a strong healthcare network, supported by bulging expenditure on health by both private and public sectors, the research and development efforts by pharmaceutical drug manufacturers for the discovery of new gastroparesis drugs that have improved efficacy and safety profiles is also increasing, thereby contributing to the market growth.

As per our analysts at KD Market Insights, the following five players lead the North America gastroparesis drugs market growth:

• AbbVie Inc.
• Takeda Pharmaceutical Company Limited
• Evoke Pharma, Inc.
• Salix Pharmaceuticals (a division of Bausch Health Companies Inc.)
• Neurogastrx, Inc.

Which Key Players Top the Global Gastroparesis Drugs Market Share?

As per our analysts at KD Market Insights, the competitive landscape of global gastroparesis drugs market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with gastroparesis drugs market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global gastroparesis drugs market share:

• AbbVie Inc.
• Allergan plc (now part of AbbVie)
• Takeda Pharmaceutical Company Limited
• Valeant Pharmaceuticals International, Inc.
• Medtronic plc
• Rhythm Pharmaceuticals, Inc.
• Evoke Pharma, Inc.
• Abbott Laboratories
• Pfizer Inc.
• Teva Pharmaceutical Industries Ltd.
• Salix Pharmaceuticals (a division of Bausch Health Companies Inc.)
• Neurogastrx, Inc.

What are the Recent Developments Observed in the Gastroparesis Drugs Market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with global gastroparesis drugs market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

For instance, Evoke Pharma, Inc. shared that it has received the United States Patent No. 11,517,545 by the United States Patent and Trademark Office (USPTO) for its title ‘Treatment of Moderate and Severe Gastroparesis’.

Further, Processa Pharmaceuticals, Inc. stated that for the Phase 2A clinical trial of PCS12852 in patients with moderate to severe gastroparesis, it has enrolled its first patient.