Drugs called gastrointestinal (GI) agents are used to treat gastrointestinal issues like heartburn brought on by gastroesophageal reflux disease (GERD) and peptic ulcers, which are frequently brought on by NSAIDs and steroids used to treat lupus. Stomach, large intestine, and rectum, small intestine, oesophagus, liver, gallbladder, and pancreas are all impacted by chronic GI complications, which manifest as symptoms like heartburn, indigestion, bloating, and constipation among others.
The high prevalence of GI issues leads to a huge market for gastrointestinal medications. The market for GI medications is thus expanding significantly. Numerous ground-breaking medical discoveries in recent years have propelled the global gastrointestinal drugs market to new heights.
Key Players:
Some of the notable Gastrointestinal Drugs Market Players 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).
Acknowledging the increasing market size of the market, Market Research Future (MRFR) in its recently published study report asserts that the global gastrointestinal drugs market will register approximately 5.03% CAGR during the forecast period (2022-2030), reaching USD 75.56 BN by the end of 2030.
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.
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