Global Gastrointestinal Therapeutics Market to Grow at 4.9% During 2023-2028, Spurred by Increasing Incidences of Gastrointestinal Disorders

February 22, 2021 | Healthcare

According to the latest report by IMARC Group, titled "Gastrointestinal Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global gastrointestinal therapeutics market size reached US$ 44.2 Billion in 2022. Gastrointestinal disorders refer to medical conditions that are related to the gastrointestinal tract and the functioning of accessory digestive organs, such as the pancreas, stomach, small and large intestines, gall bladder and rectum. Some of the most common gastrointestinal disorders may include indigestion, constipation, peptic ulcer diseases, and irritable bowel syndrome, which are usually characterized by heartburn, stomachache, bloating, vomiting, and nausea. Gastrointestinal therapeutics is a branch of medicine that aids in the treatment of such ailments by reducing gastric acidity, improving digestion and properly regulating water flow in the gastrointestinal tract. These therapeutics include various over-the-counter (OTC) and prescription drugs, such as laxatives, antacids, antiemetics, antidiarrheal agents, and antiulcer agents.

Global Gastrointestinal Therapeutics Market Trends:

The global market is primarily driven by the rising prevalence of gastrointestinal diseases across the globe. Several ailments, such as constipation, diarrhea and gastroesophageal reflux disease (GERD), are commonly caused due to the shifting lifestyle preferences and the changing dietary patterns of the masses that have led to an increase in the consumption of unhealthy food. This, along with the rising healthcare expenditure, is providing a boost to the uptake of gastrointestinal therapeutics on the global level. Moreover, there has been a considerable rise in the geriatric population that is more prone to develop these gastrointestinal conditions. This, coupled with the easy availability of OTC gastrointestinal drugs through organized online and offline pharmacies, is expected to create a positive outlook for the market. The increasing usage of biosimilars and cellular therapies for the treatment of gastrointestinal disorders that offer personalized and targeted treatment to the patients is also creating a positive outlook for the market. Some of the other factors contributing to the market growth include the rising utilization of regenerative medicines, extensive research and development (R&D) activities, increasing numbers of clinical trials with accurate results to offer innovative therapies to the patients, and the significant developments in the overall healthcare infrastructure. On account of the aforementioned factors, the market is expected to grow at a CAGR of 4.9% during 2023-2028.

Market Summary:

On the basis of the type, the market has been bifurcated into branded and generic.
Based on the route of administration, the market has been divided into oral, intravenous, and others.
On the basis of the application, the market has been classified into ulcerative colitis, Crohn’s disease, GERD, and others.
Based on the distribution channel, the market has been segmented into hospital, retail and online pharmacies.
On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Abbott Laboratories, AbbVie Inc., AstraZeneca Plc, Bausch Health Companies Inc., Bayer Aktiengesellschaft, GlaxoSmithKline Plc, Janssen Biotech Inc. (Johnson & Johnson), Novo Nordisk A/S, Pfizer Inc., Sanofi S.A., and Takeda Pharmaceuticals.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Type, Route of administration, Application, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Abbott Laboratories, AbbVie Inc., AstraZeneca Plc, Bausch Health Companies Inc., Bayer Aktiengesellschaft, GlaxoSmithKline Plc, Janssen Biotech Inc. (Johnson & Johnson), Novo Nordisk A/S, Pfizer Inc., Sanofi S.A. and Takeda Pharmaceuticals.
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Global Gastrointestinal Therapeutics Market to Grow at 4.9% During 2023-2028, Spurred by Increasing Incidences of Gastrointestinal Disorders

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