Albany, NY -- (SBWIRE) -- 01/12/2017 -- Delayed gastric emptying associated with diabetes is known as Diabetic Gastroparesis (DGP). Though it occurs in patients suffering from both Type-1 and Type- 2 diabetes, it is more common in female patients suffering from Type-2 diabetes. The cause of DGP is inherent damage in the vagus nerve that controls the movement of food through the digestive tract. The global Diabetic Gastroparesis treatment market is likely to witness extensive growth in the next eight years due to an increasing incidence of Type-1 and Type-2 diabetes. The global diabetic gastroparesis treatment market is expected to register a CAGR of 4.1% over the forecast period (2016–2024) and reach a market valuation of US$ 3,769.3 Mn by 2024. While North America is expected to remain the most dominant market, the Asia Pacific market is anticipated to witness the highest CAGR of 4.5% during the forecast period.

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Market dynamics

Factors such as rising prevalence of diabetic gastroparesis with high unmet medical needs and availability of reimbursement for in-patient hospital stays in developed countries are expected to drive growth of the global diabetic gastroparesis treatment market over the forecast period. Increasing use of diabetic gastroparesis drugs to control symptoms such as nausea and vomiting is anticipated to fuel growth of the global diabetic gastroparesis treatment market over the forecast period. Also, increasing affordability among people and easy access to medicines are further expected to boost market revenue growth over the forecast period. However, usage of non-prescription drugs to control the symptoms restricts diagnosis of stage 1 and stage 2 gastroparesis. Lack of clinical evidence on improvement offered by prescription drugs and termination of clinical trials are factors expected to hamper growth of the global diabetic gastroparesis treatment market over the forecast period.

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The market is likely to witness key trends over the forecasted eight year period. An increased focus on consumer friendly pricing of diabetic gastroparesis drugs and devices is expected to boost treatment uptake at a global level. Further, innovation in product offerings and creative marketing initiatives undertaken by market players is anticipated to increase penetration and market entry of new devices.

Market forecast by segmentation

The global diabetic gastroparesis treatment market has been segmented on the basis of product type (drugs, surgical treatment products), disease indication (compensated gastroparesis, gastric failure), and distribution channel (hospital pharmacies, private clinics, drug stores, retail pharmacies, e-commerce). The drugs product type segment is expected to account for the maximum revenue share of the global diabetic gastroparesis treatment market by 2024. Sales revenue of this segment is anticipated to expand at a CAGR of 3.6% over the forecast period. Sales revenue of surgical treatment products is expected to increase at a CAGR of 5.0% over the forecast period owing to long-term relief provided by intervention. The compensated gastroparesis disease indication type segment is estimated to account for 66.1% share in the global diabetic gastroparesis treatment market by 2016 and is likely to register a CAGR of 4.5% over the forecast period. The gastric failure disease indication type segment is expected to account for 33.9% share in the global diabetic gastroparesis treatment market by 2016. The hospital pharmacies distribution channel segment is expected to expand at a CAGR of 4.6% in terms of revenue over the forecast period. The e-commerce distribution channel segment is expected to account for 9.5% share in the global diabetic gastroparesis treatment market by the end of 2016.

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Key geographies

The global diabetic gastroparesis treatment market has been segmented into five major regions namely North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). In terms of value, North America is expected to be the fastest growing market, registering a CAGR of 4.4% over the forecast period. Asia Pacific is also expected to be an attractive market in terms of opportunities for diabetic gastroparesis drugs manufacturers and investors during the forecast period. The MEA region is expected to account for 7.4% share in the global diabetic gastroparesis treatment market by 2016, registering a CAGR of 2.9% over the forecast period.

Key market players

Janssen Global Services, LLC, Salix Pharmaceuticals, Inc., Abbott Laboratories, Medtronic, C. R. Bard, Inc., Kimberly-Clark Corporation, Boston Scientific Corporation, Cardinal Health, Inc., Rhythm Pharmaceuticals, Inc., Evoke Pharma, and Alfa Wassermann SPA are some of the leading players operating in the global diabetic gastroparesis treatment market.

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