LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global gastroparesis drugs market to reach USD 7,116.71 million by 2021 during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global gastroparesis drugs market for 2017-2021. The report further segments the market based on drug class (prokinetic agents, antiemetic agents, and botulinum toxin injection), disease type (diabetic gastroparesis and idiopathic gastroparesis), and geography (the Americas, APAC, and EMEA).
Global gastroparesis drug market is expected to fetch profit from the growing incidence of diabetes, which is the most common known cause of gastroparesis. Rising diabetic population will propel the global gastroparesis market especially in regions such as APAC, which is primarily due to the large geriatric population residing in the region. The economic boom in emerging countries such as India and China has attracted many investors in the healthcare sector, leading to the growth of the global gastroparesis drugs market.
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Technavio healthcare and life sciences analysts highlight the following three factors that are contributing to the growth of the global gastroparesis drugs market:
- The rising cases of diabetes fueling the prevalence of diabetic gastroparesis
- Rising gastric surgeries fueling the prevalence rate of post-surgical gastroparesis
- Unmet need in the industry to increase the R&D in the field
The rising cases of diabetes fueling the prevalence of diabetic gastroparesis
Diabetes is turning out to be one of the most serious health concerns for people across the world. The year 2015 recorded around 400-425 million people affected by diabetes; the number is expected to rise to around 625-650 million by 2040.
Barath Palada, a lead cardiovascular and metabolic disorders research analyst at Technavio, says, “As of 2015, more than 50% of the global diabetic patients were from APAC. Africa, however, will witness the highest growth in diabetes mainly due to rise in the lack of awareness and treatment facilities in the region. Globally, about half of the diabetic patients are undiagnosed, which indicates that the actual number may be higher than the estimated. Diabetes acts as one of the major factors leading to gastroparesis. The rising prevalence of diabetes is expected to propel the gastroparesis market directly.”
Rising gastric surgeries fueling the prevalence rate of post-surgical gastroparesis
The third most common type of gastroparesis after idiopathic and diabetic gastroparesis is Post-surgical gastroparesis. Gastric surgeries include surgeries that are done to digestive parts of the bodies such as the esophagus, duodenum, and stomach. There is a high chance of the vagus nerves getting injured during the gastric surgery, and these injured nerves give rise to gastroparesis.
“Gastric bypass surgeries and bariatric surgeries are some of the common types of gastric surgeries. Rising obesity is a major reason for these surgeries as these surgeries are mainly performed for reducing weight,” adds Barath.
Unmet need in the industry to increase the R&D in the field
At present, there are not much options available for the treating gastroparesis. This treatment is insufficient when compared with the prevalence of the disease. Gastroparesis is a common problem associated with diabetic patients, which adversely affects the quality of life. As of now, the diabetic gastroparesis has only one US FDA-approved drug for its treatment. This creates a highly unmet need in the market. Therefore, companies are trying to bring up newer therapeutics for the treatment. Fast-track approvals and recent studies are expected to drive the market during the forecast period.
Top vendors:
- Cadila Pharmaceuticals
- GlaxoSmithKline
- Johnson & Johnson
- Valeant
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