What Are the Projections For The Gastroparesis Global Market Size And Growth Rate?
The gastroparesis market size has seen progressive growth in recent years. The size will grow from $6.84 billion in 2024 to $7.17 billion in 2025 at a compound annual growth rate (CAGR) of 4.9%. The growth during the historic period is chiefly attributed to an aging population, increasing prevalence of diabetes, improved understanding of gastrointestinal disorders, evolving treatment protocols, and growing awareness about gastroparesis.
Projections show the gastroparesis market size experiencing strong growth in the coming years, reaching $8.82 billion in 2029 at a compound annual growth rate (CAGR) of 5.3%. This growth in the forecast period can be attributed to the development of novel therapeutic options, expansion of personalized medicine approaches, integration of digital health solutions, a rise in healthcare infrastructure, and an increasing focus on early diagnosis. Key trends include advancements in gastric electrical stimulation therapy, growing research in stem cell therapy, adoption of minimally invasive surgical interventions, increased use of wearable health monitoring devices, and focus on patient-centric care models.
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What Key Factors Are Driving The Gastroparesis Market Growth?
The growth in healthcare expenditure is expected to propel the growth of the gastroparesis market moving forward. Healthcare expenditure refers to the total amount of resources allocated to health services, including expenses related to hospitals, medical professionals, nursing, dental care, medications, and public health initiatives. The rise in healthcare expenditure is benefiting the gastroparesis market by providing more financial support for research and development, expanding treatment alternatives, and facilitating greater patient access to specialized healthcare services. For instance, in May 2023, according to a report published by the Office for National Statistics, a UK-based government department, the UK healthcare expenditure was around $317.63 billion (£292 billion) in 2023. Therefore, the growth in healthcare expenditure is driving the gastroparesis market.
How Is The Gastroparesis Market Segmented?
The gastroparesis market covered in this report is segmented as follows:
1) By Treatment Modality:
– Medications
– Dietary Modifications
– Medical Devices
– Other Therapies
2) By Gastroparesis Type:
– Idiopathic
– Diabetic
– Post- Surgical
– Other Types
3) By Patient Demographics:
– Pediatric Gastroparesis
– Adult Gastroparesis
4) By Distribution Channel:
– Retail Pharmacies
– Hospital Pharmacies
– Other Distribution Channels
5) By End User:
– Hospitals And Clinics
– Ambulatory Surgical Centers
– Home Care Settings
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Who Are The Major Players In The Gastroparesis Market?
Major companies operating in the gastroparesis market includes Pfizer Inc., GlaxoSmithKline plc., Abbott Laboratories Inc., AstraZeneca Plc., Medtronic Plc., Takeda Pharmaceutical Company Limited, Johnson And Johnson Services Inc., Teva Pharmaceutical Industries Ltd, AbbVie Inc., Boston Scientific Corporation, Bausch Health Companies Inc., Cadila Pharmaceuticals Ltd., Daewoong Pharmaceutical co. ltd, ReGenXBio Inc., ANI Pharmaceuticals Inc., Dompe Farmaceutici S.p.A, Sucampo Pharmaceuticals Inc., Ironwood Pharmaceuticals Inc., Theravance Biopharma Inc., RedHill Biopharma Ltd., Valeant Pharmaceuticals International Inc., CinRx Pharma LLC., Ritter Pharmaceuticals Inc., Evoke Pharma Inc., Metacrine Inc., Neurogastrx Inc.
What Are The Emerging Trends In The Gastroparesis Market?
Major companies operating in the gastroparesis market are developing innovative devices to increase their profitability in the market. Devices for the treatment of gastroparesis are medical tools or equipment designed to help manage or alleviate symptoms associated with gastroparesis. In 2022, Enterra Medical Inc., launched Enterra therapy for the treatment of gastroparesis. This therapy system uses an implanted neurostimulator to produce gentle electrical pulses, offering potential relief for symptoms of chronic nausea and vomiting linked to gastroparesis.
Which Region Dominates The Gastroparesis Market?
North America was the largest region in the gastroparesis market in 2024 while the regions covered in the gastroparesis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Gastroparesis Global Market Report 2024 Offer?
Gastroparesis is a medical condition characterized by the impairment or weakening of the stomach muscles, resulting in delayed emptying of stomach contents into the small intestine. Gastroparesis is treated by medications to stimulate stomach emptying and manage underlying conditions, and surgical interventions. The Gastroparesis Global Market Report 2024 research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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