The gastroparesis market was valued at US$ 4,338. 61 million in 2019 and is projected to reach US$ 6,025. 11 million by 2027; it is expected to grow at a CAGR of 4. 3% during 2020–2027. The growth of the market is mainly attributed to the increasing prevalence of diabetes and growing geriatric population.
New York, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Gastroparesis Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Gastroparesis Type, Drug Class Type, and Distribution Channel" - https://www.reportlinker.com/p06027538/?utm_source=GNW
However, side effects of gastroparesis drugs obstruct the growth of the market.
Diabetes mellitus is a life-threatening chronic disease mainly caused by the body’s inability to produce insulin or effectively utilize it.Diabetes is one of the global health emergencies of the 21st century.
According to a report published by International Diabetes Federation (IDF) in 2019, 1 in 11 people in the world are suffering from diabetes.The total global count of people suffering from diabetes was around 463 million in 2019.
Moreover, according to the same report, the prevalence of disease is expected grow by 35% by 2045.The data also suggests that almost 84 million people in Southeast Asia are diabetic; among these, 149,300 are children, and they require a daily dosage of insulin shots.
In addition, the National Institutes of Health (NIH) also reported that the incidence of type 1 diabetes is increasing rapidly, and the disease is affecting a significant number of children and teenagers.
Diabetes is one of the prominent known causes of gastroparesis.The condition is characterized by damaged nerves, especially involving vagus nerves and stomach wall cells.
The damage to vagus nerves affects muscle motility of stomach and small intestine.According to a study published by Johns Hopkins University, ~30–50% of the diabetic population suffers from delayed gastric emptying.
The escalating incidence of diabetes mellitus due to obesity, sedentary lifestyle, and unhealthy eating habits is propelling the prevalence of gastroparesis.
The COVID-19 pandemic has disrupted supply chain of over-the-counter (OTC) and prescription drugs, and this is likely to limit the market growth in the next few quarters. Moreover, prime focus of health care providers and medical industries on COVID-19 has led to the lowered focus on the diagnosis and treatment for gastroparesis, which is limiting the market growth to a certain extent.
On the basis of type, the gastroparesis market is segmented into idiopathic, diabetic, post-surgical, and others. The idiopathic type held the largest share of the market in 2019; however, the market for the diabetic segment is estimated to grow at the highest CAGR during the forecast period.
The gastroparesis market, by drug class type, is segmented into prokinetic agents, antiemetic agents, and botulinum toxin injections. The prokinetic agents segment held the largest share of the market in 2019 and is estimated to register the highest CAGR during 2020–2027.
On the basis of distribution channel, the gastroparesis market is segmented into hospital pharmacies, retail pharmacies, and others. The hospital pharmacies segment held the largest share of the market in 2019 and is expected to register the highest CAGR during the forecast period.
The World Health Organization (WHO), Food and Drug Administration (FDA), National Health Service (NHS), and Centers for Disease Control and Prevention (CDC) are among the major primary and secondary sources referred to while preparing this report.
Read the full report: https://www.reportlinker.com/p06027538/?utm_source=GNW
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