NEW YORK, January 9, 2017 /PRNewswire/ --
Rapid improvement of healthcare services is ensuring a qualitative development of medical treatments for dysphagia. The number of outpatients seeking dysphagia management services is also expected to be on a rise globally. More patients are opting for OTC (over-the-counter) drugs over prescription-based medications, which will continue to be a key determinant for growth in demand for dysphagia management since such diseases can be cured orally, without a mandatory medical supervision.
According to Persistence Market Research's report, titled "Dysphagia Management Market: Global Industry Analysis & Forecast, 2016-2024," by the end of 2024, the global dysphagia management revenues are likely to reach US$ 4,101.3 million value, a majority of which will be accounted by nutritional solutions products. The report also predicts that global sales of thickeners in nutritional solutions (as dysphagia management products) will net revenues worth over US$ 1,700 million during the forecast period.
According to the report, over the forecast period, the global dysphagia management market will expand at a healthy CAGR of 6.2%. Growth in global demand for dysphagia management will be paralleled with improvement of medical services & facilities in the global healthcare sector. Increasing presence of specialty clinics and retail pharmacies will further add to the distribution of dysphagia management drugs and treatment solutions.
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In terms of global revenues, however, hospital pharmacies will continue to lead the worldwide dysphagia management market by reaping more than US$ 1.5 billion by 2024. Although, growth of the global dysphagia management market is likely to be restrained by side-effects of products sold as dysphagia drugs & tubes. Additionally, losing out on market exclusivity is also a key challenge incurred during sales of dysphagia drugs as OTC medications.
Global Dysphagia Management Market: Regional Analysis
North America's dysphagia management market is projected to grow substantially, owing to the surging incidences of strokes. Excessive addiction to smoking and binge-drinking is a major factor triggering occurrence of dysphagia-related disorders in North America. By 2024, nearly US$ 1,500 million revenues from sales of dysphagia management will be accrued in North America, among which, oropharangeal dysphagia indications will account for more than a billion dollars in revenues. Europe is also projected to be a key region, lucrative for the growth of dysphagia management market.
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In terms of global market share, Europe's dysphagia management revenues will be contributing to about 27% of global revenues throughout the forecast period. Likewise, increasing production of pharmaceuticals in Asia-Pacific (APAC) region is also expected to favor the growth of dysphagia management in that region. By 2024-end, the APAC dysphagia management market will expand rampantly, registering the highest regional CAGR at 6.9%. On the other hand, Latin America and Middle East & Africa (MEA) regions are likely to incur nascent growth in terms of dysphagia management market value, over the projection period.
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Global Dysphagia Management Market: Competitive Landscape
Japanese pharmaceuticals manufacturer, Eisai Co. Ltd. is globally recognized for specializing in production of drugs for treatment of peptic ulcers and dysphagia. The company is also projected to be developing its businesses in generics production, and will continue co-marketing medications developed by industry leaders such as Johnson & Johnson. North American drugmakers, C. R. Bard, Inc. and Cook Medical Inc., along with Louisiana-based Kent Precision Foods Group, Inc. are also leading players in the global dysphagia management market. Besides, Nutricia Advanced Medical Nutrition, Cipla Ltd., Nestlé Health Science, and Astra Zeneca plc. are other leading companies profiled in the report.
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