Global Diabetic Gastroparesis Treatment Market, By Product Type (Drugs (Gastroprokinetic Agents, Antiemetic Agents, Botulinum Toxin), Surgical Treatment Products (Gastric Electrical Stimulation (GES) Device, Percutaneous Endoscopic Gastrostomy (PEG) Kit, Parenteral Nutrition)), By Disease Indication (Compensated Gastroparesis, Gastric Failure), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) is estimated to be valued at US$ 2,271.7 Million in 2023 and is expected to exhibit a CAGR of 3.6 % during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The initiatives by market players to carry out clinical trials of their new products is expected to provide lucrative growth opportunities for global diabetic gastroparesis treatment market. For example, on April 27, 2023, CinRx Pharma, a U.S.-based biotechnology company, announced that its first participant in clinical trial was dosed in CinDome’s Phase 2 Study of Deudomperidone for the Treatment of Diabetic Gastroparesis.
Global Diabetic Gastroparesis Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the Global Diabetic Gastroparesis Treatment Market. This is because of reduced numbers of endoscopy procedures being carried out in the hospitals during lockdown period. For instance, according to an article published in Journal Annals of Medicine on November 11, 2022 during COVID-19, due to strict regulations across the world, there were nearly 75-100% reduction in endoscopy procedures.
Global Diabetic Gastroparesis Treatment Market: Key Developments
Additionally, workshops and seminars related to diabetic gastroparesis are being organized that can make people aware about the disease. Such initiatives across the world are expected to boost market growth during the forecast period.
For instance, on August 2, 2022, on the occasion of Gastroparesis Awareness Month, American Gastroenterological Association in partnership Dietitians in Gluten and Gastrointestinal Disorders (DIGID) provided Nutritional therapy tips to manage gastroparesis. The American Gastrointestinal Association Gastrointestinal Patient Center outlined tips to prepare and use fruits and vegetables to receive nutrients while minimizing discomfort for individuals with gastroparesis.
Browse 34 Market Data Tables and 32 Figures spread through 170 Pages and in-depth TOC on “Global Diabetic Gastroparesis Treatment Market”- Forecast to 2030, Global Diabetic Gastroparesis Treatment Market, By Product Type (Drugs (Gastroprokinetic Agents, Antiemetic Agents, Botulinum Toxin), Surgical Treatment Products (Gastric Electrical Stimulation (GES) Device, Percutaneous Endoscopic Gastrostomy (PEG) Kit, Parenteral Nutrition)), By Disease Indication (Compensated Gastroparesis, Gastric Failure), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/diabetic-gastroparesis-treatment-market-3603
Key Takeaways of the Global Diabetic Gastroparesis Treatment Market:
- The Global Diabetic Gastroparesis Treatment Market is expected to exhibit a CAGR of 3.6% during the forecast period. The mergers and acquisitions with emerging economies offers lucrative growth opportunities for players in the Global Diabetic Gastroparesis Treatment Market. For instance, on May 7, 2021, Sumimoto Dainippon Pharma, a Japan-based pharmaceutical company and key market player in treatment of Diabetic Gastroparesis, announced acquisition of rights for Sinovant, a China-based biopharmaceutical company for several development compounds in China and other Asian countries.
- Among treatment product type, Gastroprokinetic agent segment is expected to grow in the global diabetic gastroparesis treatment market over the forecast period. This is because of newer approvals in prokinetic drug therapy, which are used to treat gastroparesis by U.S. Food and Drug Administration. For instance, on February 14, 2020, U.S. Food and Drug Administration approves Lactitol, a product of Braintree Laboratories, U.S. pharmaceutical company for Chronic Idiopathic Constipation in Adults. The approval is based on an 807-patient, six-month placebo-controlled trial, a three-month active-controlled trial, and a one-year uncontrolled safety study.
- Among region, North America is expected to be the dominant region in the global diabetic gastroparesis treatment market, owing to the increasing research activities in this region. For instance, according to study published in JagWire, Augusta University on May 16, 2023, There is group of nerves in the body that usually plays a key role in communication of gut and brain of human body. These set of nerves gives the sensation of pain during Diabetic Gastroparesis. If these group of nerves are stimulated, then it may help to reduce pain, nausea and vomiting. For this, lab has developed a painless, noninvasive magnetic stimulation therapy called ThorS-MagNT, which is used to target and reset the hyperactive firing of a small group of nerves at the midback, a sort of midpoint of communication between the stomach and the brain.
- Major players operating in the global diabetic gastroparesis treatment market include Janssen Global Services, LLC, Cardinal Health, Inc., Evoke Pharma, Inc., Salix Pharmaceuticals, Inc., Alfa Wassermann SPA, Abbott Laboratories, Medtronic Plc., C. R. Bard, Inc. (Becton, Dickinson and Company), Rhythm Pharmaceuticals, Inc., Boston Scientific Corporation, Kimberly-Clark Corporation, Vanda Pharmaceuticals, Inc., and Allergan, plc.
