Report : Asia-Pacific Gastroparesis Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Idiopathic, Diabetic, Post-Surgical, and Others), Drug Class (Prokinetic Agents, Botulinum Toxin Injections, and Antiemetic Agents), and Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and Others)
Hospital Pharmacies Segment to Dominate APAC Gastroparesis Market during 2019–2027
According to a new market research study on “APAC Gastroparesis Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type, Drug Class, and Distribution Channel” is expected to reach US$ 1,623.77 million by 2027 from 1,164.94 US$ million in 2020. The market is estimated to grow at a CAGR of 4.9% from 2020 to 2027. The report provides trends prevailing in the APAC gastroparesis market along with the drivers and restraints pertaining to the market growth. Research funding on rise is the major factor driving the growth of the APAC gastroparesis market. However, issues associated with adverse effects of gastroparesis drugs hinders the growth of APAC gastroparesis market.
The APAC gastroparesis market is segmented on the basis of type, drug class, distribution channel, and country. The APAC gastroparesis market, by type, is segmented into idiopathic, diabetic, post-surgical, and others. The idiopathic segment held the largest share of the market in 2019. The APAC gastroparesis market, by drug class type, is segmented into prokinetic agents, botulinum toxin injection, and antiemetic agents. The prokinetic agents segment held the largest share of the market in 2019. Based on distribution channel, the APAC gastroparesis market is segmented into retail pharmacies, hospital pharmacies, and others. The hospital pharmacies segment held the largest share of the market in 2019. Based on country, the APAC gastroparesis market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. Japan held the largest market share in 2019.
Countries in APAC are facing challenges due to increasing incidences of COVID-19. The outbreak has severely affected the pharmaceutical industry and imposed supply chain disruptions; moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure, decreasing in demand of gastroparesis drugs such as prokinetic agents, botulinum toxin injection, antiemetic agents, and others. Moreover, the governments have preferred to continue to permit business operations and economic activities. Thus, the supply of the consumer health products or over the counter drug such as anti-emetic and prokinetic is less affected. For instance, India is among the largest hub for pharmaceutical manufacturing. The country contributes to the majority shares of supplies generic and branded drugs world-wide. The manufacturers are operating with full capacity. Thus, it is expected to maintain the demand and supply of the products in the associated markets. The outbreak has severely affected the pharmaceutical industry ad-imposed supply chain disruptions; moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent disease transmission.
Allergan Plc; ANI Pharmaceuticals, Inc.; Bausch Health Companies Inc. (Salix Pharmaceuticals, Ltd.); Ipca Laboratories Ltd.; Johnson and Johnson Services, Inc.; Pfizer Inc.; and TEVA PHARMACEUTICAL INDUSTRIES LTD are among the leading companies in the APAC gastroparesis market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, AbbVie has completed the Acquisition of Allergan. The agreement is likely to establish a new business model or to enrich the offer for its customers by different expertise and new solutions.
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