South America Gastroparesis Market is expected to reach US$ 407.30 million by 2027

PRESS RELEASE BY The Insight Partners 09 Sep 2021

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Hospital Pharmacies Segment is Expected to be Fastest Growing During the Forecast Period for SAM Region

According to The Insight Partners market research study on “SAM Gastroparesis Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type, Drug Class, and Distribution Channel” is expected to reach US$ 407.30 million by 2027 from 320.85 US$ million in 2020. The market is estimated to grow at a CAGR of 3.5% from 2020 to 2027. The report provides trends prevailing in the SAM gastroparesis market along with the drivers and restraints pertaining to the market growth. Geriatric population growing is the major factor driving the growth of the SAM gastroparesis market. However, issues associated with gastroparesis drugs showing various side effects hinders the growth of SAM gastroparesis market.      

 The SAM gastroparesis market is segmented on the basis of type, drug class, distribution channel, and country. The SAM 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 SAM 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 SAM 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 SAM gastroparesis market is segmented into Brazil, Argentina, and rest of SAM. Brazil held the largest market share in 2019.    

SAM is facing significantly challenging situations due to COVID 19 pandemic. However, the recent pandemic is causing turbulence to the economies of the SAM. A sudden drop in demand for gastroparesis, diabetes, and treatments and production due to labor shortage are some of the major impacts observed in the region. In Central America countries, there is a surge in demand for normal consumer health drugs such as anti-emetic. Some countries across SAM are limiting the sales/purchase of non-prescription drugs in response to COVID-19 to maintain supply and counteract stockpiling/panic buying. The approach differs widely across the region: countries such as Brazil and Argentina have introduced strict limits, while others, such as the Peru and other SAM countries, have not ordered official restrictions.

 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 SAM 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.     

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