PUBLISHER: Allied Market Research | PRODUCT CODE: 1365719
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365719
The Gastrointestinal Therapeutics Market is likely to experience a significant growth rate of 5.0% from 2023-2032 owing to increase in demand for gastrointestinal drugs from pharmaceutical sector - Allied Market Research. According to a new report published by Allied Market Research, titled, "Gastrointestinal Therapeutics Market," The gastrointestinal therapeutics market was valued at $39.5 billion in 2022, and is estimated to reach $64.5 billion by 2032, growing at a CAGR of 5% from 2023 to 2032. Gastrointestinal therapeutics refers to the branch of medicine and healthcare focused on the diagnosis, treatment, and management of disorders and conditions affecting the gastrointestinal (GI) tract. Gastrointestinal therapeutics involves a range of medical approaches, including medications, surgical interventions, lifestyle modifications, and dietary recommendations, aimed at addressing various GI disorders such as gastroesophageal reflux disease (GERD), inflammatory bowel disease (IBD), peptic ulcers, diarrhea, and more. The field aims to alleviate symptoms, promote healing, manage complications, and improve overall well-being for individuals experiencing gastrointestinal health issues.
Ongoing research in fields such as gastroenterology, immunology, and microbiology contribute to a deeper understanding of the underlying causes and mechanisms of gastrointestinal disorders. This knowledge leads to the development of targeted therapies and more personalized treatment approaches. The gastrointestinal therapeutics market has experienced significant growth owing to the rise in prevalence of gastrointestinal disorders, such as gastroesophageal reflux disease (GERD), inflammatory bowel disease (IBD), and irritable bowel syndrome (IBS). For instance, according to the National Center for Biotechnology and Information (NCBI) in 2022, gastroesophageal reflux disease (GERD) is one of the most commonly diagnosed digestive disorders in the U.S. with a prevalence of 20%, resulting in a significant economic burden in direct and indirect costs. As these disorders affect millions of people worldwide, there is a surge in demand for effective therapeutic options, which is expected to drive market growth.
In addition, the development of biologic therapies has revolutionized the treatment landscape for gastrointestinal disorders, which further supports the market growth. Biologics, such as monoclonal antibodies and cytokine inhibitors, provide targeted interventions that modify the inflammatory processes associated with disorders such as Crohn's disease and ulcerative colitis. Furthermore, ongoing research and development activities in the field of gastrointestinal therapeutics contribute toward the market growth. Pharmaceutical companies, academic institutions, and research organizations invest in discovering and developing innovative therapies, improving treatment efficacy, and expanding the range of available gastrointestinal therapeutics. For instance, Inspirna, Inc. is conducting a phase 1 study of RGX-202-01 (Ompenaclid) as combination therapy in 2nd Line RAS mutant advanced colorectal cancer. Thus, a rise in ongoing research and development activities in the field of gastrointestinal therapeutics is expected to drive the market growth.
The gastrointestinal therapeutics market is segmented into drug class, application, distribution channel, and region. By drug class, the market is segregated into biologics, proton pump inhibitors, aminosalicylates, antacids, laxatives, H2 antagonists, and others. By application, the market is classified into inflammatory bowel disease, gastroesophageal reflux disease, peptic ulcer disease, irritable bowel syndrome, and others. The inflammatory bowel disease segment is further categorized into Crohn's disease and ulcerative colitis. The peptic ulcer disease segment further categorized into the gastric ulcer and duodenal ulcer. By distribution channel, the market is segregated into hospital pharmacies, drug stores and retail pharmacies, and online providers. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Others).
Major key players that operate in the gastrointestinal therapeutics market are AbbVie Inc., Pfizer Inc., AstraZeneca plc, Bayer AG, Takeda Pharmaceutical Company Limited, Organon Group of Companies, Bausch Health Companies Inc., Cosmo Pharmaceuticals, Teva Pharmaceutical Industries Limited, and Bristol-Myers Squibb Company. Key players have adopted product launch, product approval, and clinical trial as key developmental strategies to improve the product portfolio of the gastrointestinal therapeutics market.
Additional benefits you will get with this purchase are:
Possible Customization with this report (with additional cost and timeline talk to the sales executive to know more)