Seattle, Aug. 18, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global gastroparesis treatment market is estimated to be valued at US$ 8,061.9 million in 2022 and expected to exhibit a CAGR of 3.6% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Gastroparesis Treatment Market:
Key market players are focusing on gaining funds from investors in order to enhance their product pipelines. For instance, in January 2018, Neurogastrx, Inc., a private biopharmaceutical company focused on discovering and developing therapies for gastrointestinal disorders affecting the enteric nervous system, announced a transformative US$ 45 million Series A financing co-led by 5AM Ventures, OrbiMed Advisors, and venBio Partners.
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Key Market Takeaways:
The global gastroparesis treatment market is expected to exhibit a CAGR of 3.6% during the forecast period. A strong focus on research and development by market players to develop innovative products such as Gimoti for the treatment of gastroparesis is likely to create a significant opportunity in the market in the near future.
Among drug, the metoclopramide segment is expected to witness the largest market share in the global gastroparesis treatment market over the forecast period. The increasing number of product launches by key market players is expected to drive the metoclopramide segment growth in the global gastroparesis treatment market. For instance, in October 2020, EVOKE PHARMA a specialty pharmaceutical company focused on the treatment of gastrointestinal (GI) diseases, announced the commercial launch of Gimoti (metoclopramide) nasal spray for the relief of symptoms in adults with acute and recurrent diabetic gastroparesis.
In terms of type, the idiopathic gastroparesis segment accounted for a major share of the market in 2022. The increasing number of clinical trials by key market players to meet the unmet needs of gastroparesis disease is expected to drive the segment growth. For instance, on October 17, 2018, Millennium Pharmaceuticals, Inc. conducted Phase 2b clinical trial study to assess the efficacy and safety of TAK-906 Maleate in adult participants with diabetic gastroparesis
On the basis of route of administration, the oral segment is estimated to dominate the market in 2022. Key players are focusing on inorganic growth strategies such as signing various agreements in order to expand their product portfolio, which is expected to drive the segment growth in the global gastroparesis market. For instance, Processa Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, announced that it had entered into a licensing agreement with Yuhan Corporation, a South Korea-based pharmaceutical and chemical company, to license YH12852 in August 2020
Based on distribution channel, the hospital pharmacies segment is expected to constitute for the largest market share in the global gastroparesis treatment market over the forecast period. The availability of various products is anticipated to drive the segment growth.
On the basis of region, North America is expected to dominate the global gastroparesis treatment market with the largest market share over the forecast period. The early adoption of technologically advanced products is likely to drive the market growth. For instance, in June 2020, EVOKE PHARMA, a specialty pharmaceutical company focused on the treatment of gastrointestinal (GI) diseases, announced that the U.S. Food and Drug Administration (FDA) approved the New Drug Application (NDA) for GIMOTI (metoclopramide) nasal spray, the first and only nasally-administered product indicated for the relief of symptoms in adults with acute and recurrent diabetic gastroparesis.
Key players operating in the global gastroparesis treatment market include Processa Pharmaceuticals, Inc., EVOKE PHARMA, Neurogastrx, Inc., Vanda Pharmaceuticals Inc., ANI Pharmaceuticals, Inc., Takeda Pharmaceutical Company Limited, GlaxoSmithKline plc., Otsuka Holdings Co., Ltd., CinDome Pharma, Inc., PTC Therapeutics, Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Atlantic Healthcare and Salix Pharmaceuticals
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Global Gastroparesis Treatment Market, By Drug:
Global Gastroparesis Treatment Market, By Type:
Global Gastroparesis Treatment Market, By Route of Administration:
Global Gastroparesis Treatment Market, By Distribution Channel:
Global Gastroparesis Treatment Market, By Region:
Rest of Latin America
Rest of Europe
Rest of Asia Pacific
Rest of Middle East
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