Global Gastrointestinal Drugs Market – Overview
Acknowledging the increasing size of the industry, Market Research Future (MRFR) in its recently published gastrointestinal drugs market insights report has estimated the sector at USD 50.9 billion in 2022. The market for gastrointestinal medications is anticipated to rise from USD 53.5 billion in 2023 to USD 79.2 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.03% over the course of the forecast period (2023-2032).
Gastrointestinal (GI) drugs are medications used to treat gastrointestinal problems such as heartburn caused by gastroesophageal reflux disease (GERD), Peptic ulcers that often occur due to certain medications used in lupus treatment, including NSAIDs and steroids. Chronic GI complication affects stomach, large intestine, and rectum, small intestine, esophagus, liver, gallbladder, and pancreas, showing the symptoms such as heartburn, indigestion, bloating, and constipation among others.
The highly prevailing GI complications create a vast demand for Gastrointestinal Drugs. As a result, the market for GI drugs is growing pervasively. Over the past few years, many breakthrough drug discoveries have taken places which are escalating the Gastrointestinal Drugs Market on the global heights.
Gastrointestinal medications are a diverse group of drugs used to treat various digestive system disorders and discomfort. They include antacids to neutralize stomach acid, proton pump inhibitors to reduce acid production, antiemetics for nausea and vomiting relief, and laxatives to alleviate constipation. These medications are essential in managing conditions such as gastroesophageal reflux disease, peptic ulcers, irritable bowel syndrome, and more, offering relief and promoting overall gastrointestinal health.
The emergence of novel medications accounts for a key driving force behind the market growth, offering efficient outcomes. Moreover, several risk factors causing GI complications such as the extensive use of antibiotics, sedentary lifestyle, and change in dietary pattern among others foster the market growth. Additionally, smoking, alcohol, use of anticoagulants or corticosteroids, general health, and length of NSAID therapy also commutatively contribute to the market growth, increasing the incidence of GI issues.
On the other hand, factors such as unavailability of a permanent cure for inflammatory bowel disease and irritable bowel syndrome are impeding the market growth of GI drugs.
Global Gastrointestinal Drugs Market – Segments
MRFR has segmented its analysis into five key dynamics for an easy grasp;
By Drug Categories : Acid Neutralizers (Antacids, H2 antagonists, Proton pump inhibitors and others), Laxatives Antidiarrheal, Anti-inflammatory drugs, and Antiemetic among other.
By Routes of Administration : Oral, Parenteral, and Rectal among other.
By Disease Types : Inflammatory Bowel Disease and Gastroesophageal Reflux Disease among other.
By End-users : Hospital Pharmacies, and Retail Pharmacies among other.
By Regions : North America, Europe, APAC and the Rest-of-the-World.
Global Gastrointestinal Drugs Market – Regional Analysis
The North American region accounts for the leading market for gastrointestinal drugs, followed by Europe and the Asia Pacific, respectively. North America being a well-developed region has an edge over other regions in terms of pharmaceuticals and medical technology. With its highest GDP and hence, the highest healthcare expenditures the region has a well-established healthcare sector providing the best medication and quality care.
Factors such as the huge patient pool suffering from gastrointestinal problems, especially heartburn caused by gastroesophageal reflux disease (GERD) and Peptic ulcers among others, development in medical technology, and the presence of key pharma companies in the region are supporting the growth of the market. Countries such as the U.S. and Canada, backed by the increasing prevalence of gastrointestinal issues among people contribute to the market growth in region to an extent.
The European region is the world’s second-largest market for gastrointestinal drugs, following the North American market closely. Factors predominantly driving the market growth include the availability of effective medications, proliferating healthcare infrastructure providing quality care, funding support from public and private sectors for RD of drug discovery, and a huge patient pool suffering from gastrointestinal disorders.
Certainly, the resurging economy is a key force driving the market growth in the region, allowing access to the quality medication and hence, a great care. Countries such as the UK, Germany, and France with the breakthrough drug discoveries and burgeoning pharmaceutical industry contribute to the growth of the regional market significantly. Heading with the augmenting demand for the gastrointestinal drugs, the region is projected to create a larger revenue pocket in the global market.
The Asia Pacific region is rapidly emerging as one of the promising markets for gastrointestinal drugs, globally. Due to the burgeoning pharma sector the region is expected to witness a spurting growth over the projected period. Increasing healthcare expenditures along with the favorable government policies of some of the developing economies such as India and China support the market growth in APAC largely.
Furthermore, the unmet clinical needs, availability of cost-competitive logistic required for the manufacturing of medicines, such as land, feedstock, and the labour force in the region attracts foreign investors and encourages drug manufacturers to shift their production bases in the developing economies such India, and China, which in turn, foster the market growth in the APAC.
Global Gastrointestinal Drugs Market – Competitive Analysis
Drug manufacturers bank on breakthrough discoveries, collaborating and forming partnerships with the players in medical technology to develop new manufacturing methods and inventions. The highly competitive gastrointestinal drugs market appears to be fragmented owing to the several big and small players along with the new entrants churning the competition in the market. Key market players are focusing on optimized situational awareness for customers, ensuring their mission success.
They increasingly invest in RD activities and possess state of the art labs and production units along with the strong sales and distribution network. Marketers operating in the industry are focusing on inbound lead generation more than ever, looking for ROI-oriented strategies that can pay off quickly.
Key Players:
Some of the eminent companies mentioned in the Gastrointestinal Drugs Market outlook report include AstraZeneca (UK), AbbVie Inc. (US), Johnson Johnson (US), Abbott Laboratories (US), Valeant (US), Allergan Plc (US), Janssen Biotech Inc. (US), Bayer AG (Germany), Takeda Pharmaceutical Company Limited (Japan), Valeant Pharmaceuticals (US), Eisai Co., Ltd. (Japan), Sanofi (France), GlaxoSmithKline Plc. (UK), and Boehringer Ingelheim GmbH (Germany).
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Contact Us:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: [email protected]
Website: https://www.marketresearchfuture.com
