Report : Europe 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)
Prokinetic Agents Segment to Dominate Europe Gastroparesis Market during 2019–2027
According to a new market research study on “Europe Gastroparesis Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type, Drug Class, and Distribution Channel” is expected to reach US$ 1,683.42 million by 2027 from 1,283.40 US$ million in 2020. The market is estimated to grow at a CAGR of 4.0% from 2020 to 2027. The report provides trends prevailing in the Europe gastroparesis market along with the drivers and restraints pertaining to the market growth. Geriatric population rising is the major factor driving the growth of the Europe gastroparesis market. However, issues associated with gastroparesis drugs having side effects hinders the growth of Europe gastroparesis market.
The Europe gastroparesis market is segmented on the basis of type, drug class, distribution channel, and country. The Europe 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 Europe 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 Europe 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 Europe gastroparesis market is segmented into France, Germany, Italy, Spain, UK, and rest of Europe. Germany held the largest market share in 2019.
Among all European countries, Spain, Italy, Germany, France, and the UK are most affected due to the increasing number of COVID-19 cases and associated deaths. Resulting to these situations, the regional government announced local restrictions in countries and ordered to follow the lockdown protocols. Growing research activities about adverse drug reaction of anti-emetics in combination with COVID 19 anti-viral drugs is offering conclusion about the impact of COVID-19 pandemic on the gastroparesis market. For instance, according to research European Journal of Gastroenterology and a study published in November 2020, prokinetic and antiemetic agent domperidone could lead to dangerous interaction with antiviral drugs darunavir/cobicistat and lopinavir/ritonavir (which is preferably used in treatment of coronavirus disease) and their co-administration is considered contraindication. Moreover, due to ongoing impact of COVID-19 pandemic, certain trials have been re-scheduled or delayed. Thus, the above-mentioned factor is likely to create negative impact on the growth of market in the Europe.
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 Europe 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.
Contact Person: Sameer Joshi
Email Id: email@example.com