Gastrointestinal Therapeutics Market 2023: Predicted to Surpass USD 64.5 Billion by 2032 | AMR
What is gastrointestinal therapeutics?
Gastrointestinal therapeutics refer to the range of medical treatments, interventions, and medications designed to diagnose, manage, and treat various disorders and diseases of the gastrointestinal (GI) tract.
According to the report, the global gastrointestinal therapeutics industry generated $39.5 billion in 2022, and is anticipated to generate $64.5 billion by 2032, witnessing a CAGR of 5.0% from 2023 to 2032.
The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.
Key Takeaways:
The biologics segment to maintain its leadership status throughout the forecast period
The inflammatory bowel disease segment to maintain its leadership status throughout the forecast period
The drug stores and retail pharmacies segment to maintain its lead position during the forecast period
North America to maintain its dominance by 2032 .
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Increase in prevalence of gastrointestinal diseases, increase in the geriatric population suffering from gastrointestinal disorders, surge in demand for effective treatment options, and rise in prevalence of ulcerative colitis and Crohn’s disease are the factors expected to drive the gastrointestinal therapeutics market.
Major Factors Driving the Growth of Gastrointestinal Therapeutics Market:
- Increasing prevalence of GI disorders: The prevalence of GI disorders, such as inflammatory bowel disease (IBD), gastroesophageal reflux disease (GERD), and irritable bowel syndrome (IBS), is on the rise worldwide. This is due to a number of factors, including aging, unhealthy diets, and sedentary lifestyles.
- Growing demand for innovative and effective treatments: Patients with GI disorders are increasingly demanding innovative and effective treatments. This is because many traditional GI treatments have limited efficacy or are associated with side effects.
- Rising government support for GI research and development: Governments around the world are providing increasing support for GI research and development. This is leading to the development of new and more effective GI therapeutics.
- Growing awareness of GI disorders: There is a growing awareness of GI disorders among the general public and healthcare professionals. This is due to public awareness campaigns and educational initiatives.
Here are some examples of how Gastrointestinal therapeutics are being used today:
- Proton pump inhibitors (PPIs) are being used to treat GERD.
- Biological therapies are being used to treat IBD.
- Antispasmodics are being used to treat IBS.
- Laxatives are being used to treat constipation.
- Antacids are being used to treat indigestion.
Market Segmentation:
Drug type:
- Proton pump inhibitors (PPIs): PPIs are the most widely used type of GI therapeutic. They work by reducing the amount of acid produced in the stomach. PPIs are used to treat a variety of GI disorders, including GERD, peptic ulcers, and Zollinger-Ellison syndrome.
- Histamine H2-receptor antagonists (H2RAs): H2RAs are another type of medication that reduces stomach acid production. They are less potent than PPIs but can be used for milder cases of GERD or for patients who cannot tolerate PPIs.
- Antispasmodics: Antispasmodics are used to relax the muscles of the GI tract. They can be used to treat a variety of GI disorders, including IBS, spasms, and colic.
- Prokinetics: Prokinetics increase the movement of food through the GI tract. They are used to treat a variety of GI disorders, including gastroparesis, constipation, and motility disorders.
- Laxatives: Laxatives are used to treat constipation by softening the stool or increasing its bulk. They can be used for short-term or long-term relief.
Application:
- GERD: GERD is the most common GI disorder and is characterized by the reflux of stomach acid into the esophagus. PPIs and H2RAs are the first-line treatments for GERD.
- IBD: IBD is a chronic inflammatory disease of the GI tract that can cause abdominal pain, diarrhea, and rectal bleeding. Biological therapies and antispasmodics are the main treatments for IBD.
- Constipation: Constipation is a common GI disorder characterized by infrequent bowel movements or difficulty passing stool. Laxatives and prokinetics are the main treatments for constipation.
- Other applications: GI therapeutics are also used to treat other GI disorders such as peptic ulcers, Zollinger-Ellison syndrome, gastroparesis, motility disorders, and diarrhea.
End user:
- Hospitals: Hospitals are the largest users of GI therapeutics.
- Clinics: Clinics also use a significant amount of GI therapeutics.
- Retail pharmacies: Retail pharmacies dispense GI therapeutics to patients.
Geography:
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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Regional Growth Dynamics:
North America held the largest market share in terms of revenue in 2022, accounting for more than two-fifths of the global gastrointestinal therapeutics market revenue and is likely to dominate the market during the forecast period. Easy availability of drugs for treatment, well-developed healthcare infrastructure, and rise in prevalence of gastrointestinal diseases promoted the growth of the gastrointestinal therapeutics market in North America.
Competitive Landscape
The key players in the global gastrointestinal therapeutics market are:
- AbbVie Inc.
- Astrazeneca plc
- Pfizer Inc.
- Bayer AG
- Bausch Health Companies Inc.
- Takeda Pharmaceutical Company Limited
- Cosmo Pharmaceuticals
- Organon Group of Companies
- Bristol-Myers Squibb Company
- Teva Pharmaceutical Industries Limited
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Key Questions Answered in the Intelligent Study
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
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