Gastrointestinal (GI) drugs are medications used to treat gastrointestinalproblems such as heartburn caused by gastroesophageal reflux disease (GERD),Peptic ulcers that often occur due to certain medications used in lupustreatment, including NSAIDs and steroids. Chronic GI complication affectsstomach, large intestine, and rectum, small intestine, esophagus, liver,gallbladder, and pancreas, showing the symptoms such as heartburn, indigestion,bloating, and constipation among others.
The World Gastroenterology Organization recently reported that currently,around 35-40 % of the world’s total population is suffering from acute orChronic GI complications. These highly prevailing GI complications create avast demand for Gastrointestinal Drugs. As a result, the market for GI drugs isgrowing pervasively. Over the past few years, many breakthrough drugdiscoveries have taken places which are escalating the GI drugs market on theglobal heights.
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Acknowledging the increasing market size of the market, Market ResearchFuture (MRFR) in its recently published study report asserts that the globalgastrointestinal drugs market will register approximately 4.9% CAGR during theforecast period (2017-2023), reaching USD 59.3 BN by the end of 2023.
The emergence of novel medications accounts for a key driving force behindthe market growth, offering efficient outcomes. Moreover, several risk factorscausing GI complications such as the extensive use of antibiotics, sedentarylifestyle, 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 tothe market growth, increasing the incidence of GI issues.
On the other hand, factors such as unavailability of a permanent cure forinflammatory bowel disease and Irritable bowel syndrome are impeding the marketgrowth of GI drugs.
Segmentation
To generate a better understanding of the global GastrointestinalDrugs Market Growth, the report is segmented by drug category, route ofadministration, disease type, end user, and regions
Based on drug category, the market is segmented into Acid neutralizers,laxatives and antidiarrheal, antiemetic, anti-inflammatory drugs and other.Acid Neutralizers is further sub-segmented into Antacids, H2 antagonists,Proton pump inhibitors and Others,
Based on the route of administration, the market is segmented into oral,parenteral and rectal.
Based on disease type, the market is segmented into gastroesophageal refluxdisease, inflammatory bowel disease and other.
Based on the end user, the market is segmented into hospital pharmacies,retail pharmacies and other.
Based on regions, the market is segmented into North America, Europe, AsiaPacific, Middle East and Africa.
Regional Analysis
The North American region accounts for the leading market forgastrointestinal drugs, followed by Europe and the Asia Pacific,respectively. North America being a well-developed region has an edgeover other regions in terms of pharmaceuticals and medical technology. With itshighest GDP and hence, the highest healthcare expenditures the region has awell-established healthcare sector providing the best medication and qualitycare.
Factors such as the huge patient pool suffering from gastrointestinalproblems, especially heartburn caused by gastroesophageal reflux disease (GERD)and Peptic ulcers among others, development in medical technology, and thepresence of key pharma companies in the region are supporting the growth of themarket. Countries such as the U.S. and Canada, backed by the increasingprevalence of gastrointestinal issues among people contribute to the marketgrowth in region to an extent.
The European region is the world’s second-largest market forgastrointestinal drugs, following the North American market closely. Factorspredominantly driving the market growth include the availability of effectivemedications, proliferating healthcare infrastructure providing quality care,funding support from public and private sectors for R&D of drug discovery,and a huge patient pool suffering from gastrointestinal disorders.
Certainly, the resurging economy is a key force driving the market growth inthe region, allowing access to the quality medication and hence, a great care.Countries such as the UK, Germany, and France with the breakthrough drugdiscoveries and burgeoning pharmaceutical industry contribute to the growth ofthe regional market significantly. Heading with the augmenting demand for thegastrointestinal drugs, the region is projected to create a larger revenuepocket in the global market by 2027.
The Asia Pacific region is rapidly emerging as one of the promising marketsfor gastrointestinal drugs, globally. Due to the burgeoning pharma sectorthe region is expected to witness a spurting growth over the projected period.Increasing healthcare expenditures along with the favorable government policiesof some of the developing economies such as India and China support the marketgrowth in APAC largely.
Furthermore, the unmet clinical needs, availability of cost-competitivelogistic required for the manufacturing of medicines, such as land, feedstock,and the labour force in the region attracts foreign investors and encouragesdrug manufacturers to shift their production bases in the developing economiessuch India, and China, which in turn, foster the market growth in theAPAC.
Competitive Analysis
Drug manufacturers bank on breakthrough discoveries, collaborating andforming partnerships with the players in medical technology to develop newmanufacturing methods and inventions. The highly competitive gastrointestinaldrugs market appears to be fragmented owing to the several big and smallplayers along with the new entrants churning the competition in the market. Keymarket players are focusing on optimized situational awareness for customers,ensuring their mission success.
They increasingly invest in R&D activities and possess state of the artlabs and production units along with the strong sales and distribution network.Marketers operating in the industry are focusing on inbound lead generationmore than ever, looking for ROI-oriented strategies that can pay offquickly.
Key Players:
Some of the eminent leaders of the market include AstraZeneca (UK), AbbVieInc. (US), Johnson & Johnson (US), Abbott Laboratories(US), Valeant (US),Allergan Plc (US), Janssen Biotech Inc. (US), Bayer AG (Germany), TakedaPharmaceutical Company Limited (Japan), Valeant Pharmaceuticals (US), EisaiCo., Ltd. (Japan), Sanofi (France), GlaxoSmithKline Plc. (UK), and BoehringerIngelheim GmbH (Germany).
Industry/ Innovation/ Related News:
October 17, 2018 – The Gastrointestinal Drugs AdvisoryCommittee of the US Food and Drug Administration (FDA) approved the recommendedreintroduction of Tegaserod Maleate (Zelnorm, Sloan Pharma) for the treatmentof irritable bowel syndrome with constipation (IBS-C) in women without ahistory of cardiovascular (CV) ischemic disease and who have no more than onerisk factor for CV disease.
LIST OF FIGURES
Figure 1 Research Process
Figure 2 Market Structure of the Global GastrointestinalDrugs Market
Figure 3 Market Dynamics of the Global GastrointestinalDrugs Market
Figure 4 Global Gastrointestinal Drugs Market Share, byDrug Class, 2020 (%)
Figure 5 Global Gastrointestinal Drugs Market Share, byDrug Class, 2020 (USD Million)
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