Latin America Gastroparesis Drugs Market

The size of the Latin America Gastroparesis Drugs market was around USD 663.39 million in 2023. It is expected to grow at a CAGR of 5.3% to reach USD 858.84 million by 2028. It captures 12% of the global market.

The Latin American market is driven by an increase in the number of procedures resulting in postsurgical gastroparesis, an increase in the geriatric population, and novel medications to treat symptoms, including nausea and vomiting. However, during the forecast period, a surge in demand for user-friendly medicine development, increased healthcare infrastructure, and innovative marketing initiatives by leading vendors in this nation are expected to present the profitable potential for market expansion.

Diabetes is becoming more prevalent due to increased urbanization, sedentary lifestyles, and an increase in the number of people who drink and smoke regularly. Diabetes Mellitus is a prevalent cause of gastroparesis; thus, there is a high need for diagnosis and treatment. Diabetes is also a common cause of gastroparesis, so the gastroparesis medicine market is rising.

Gastroparesis medications also help improve gastrointestinal motility by increasing the frequency of contractions. As a result, they're widely used to treat idiopathic gastroparesis, a condition characterized by severe vomiting, nausea, and upper abdominal pain. This, along with a significant increase in the number of people acquiring gastroparesis due to surgical operations that damage the nervous system and its branches, is fueling market expansion. Furthermore, market revenue growth is expected to be boosted by people's capacity to stretch their budgets and obtain access to medicines over the forecast period.

However, the market's growth is hampered by adverse effects of gastroparesis medications, a complex regulatory process for drug approval, and challenges in gastroparesis diagnosis.

This research report on the Latin American Gastroparesis Drugs market has been segmented and sub-segmented into the following categories:

By Drug Class:

• Prokinetic Agents 
• Antiemetic Agents
• Botulinum Toxin Injections    

By Disease Class:

• Diabetic Gastroparesis       
• Idiopathic Gastroparesis    
• Post-surgical Gastroparesis              
• Others      

By End User:

• Hospitals 
• Pharmacies            
• Clinics      
• E-commerce

By Country:

• Mexico
• Brazil
• Argentina
• Chile
• Rest of Latin America

Furthermore, according to the United Nations' World Population Aging Report, nearly 75 million people in Latin America and the Caribbean were aged 60 and up in 2016. As a result, these people are more likely to develop idiopathic or diabetic gastroparesis. As a result, Latin America provides a large customer base for gastroparesis medicine makers. The rising prevalence of gastroparesis in Brazil is one of the main reasons for the market's rapid expansion.

In addition, the gastroparesis market can benefit from the rising biotech and medical device sectors. Chile, Colombia, Peru, and Bolivia are some of the leading countries contributing to the growth of the gastroparesis market. Diabetes affects a large portion of the population in these countries. Furthermore, well-established manufacturing enterprises in the regions will aid market expansion. Additionally, rising healthcare expenditures, an increase in the number of hospitals, and well-established healthcare infrastructure are all contributing to the overall regional market's growth.

Furthermore, the implementation of strategic alliances and collaborations by market players in the region is expected to raise gastroparesis awareness, resulting in the market growth over the forecast period. The FDA has approved the device to treat nausea and vomiting caused by idiopathic and diabetic gastroparesis. In the future years, the increased focus on research into stomach electrical stimulation therapy is expected to encourage new technology advances in the gastroparesis market, allowing market players to offer superior alternatives to existing gastroparesis treatment methods.

KEY MARKET PLAYERS:

Allergan, Plc., Abbott Laboratories (Abbott Arzneimittel GmbH), AstraZeneca Plc. Other players in the market are Cadila Pharmaceuticals Ltd., ETX Pharma, Inc, Evoke Pharma, GlaxoSmithKline Plc., Neurogastrx, Inc., Valeant Pharmaceuticals International, Inc., and Theravance Biopharma are a few of the notable companies operating in the Latin American gastroparesis drugs market.