Global Gastrointestinal Drugs Market: Snapshot
The rising prevalence of gastrointestinal diseases across the world is the main factor behind the growth of the global gastrointestinal drugs market. According to the World Gastroenterology Organization, the prevalence of gastroesophageal reflux disease (GERD), worldwide, is approximately 15% to 25%, and the pace of incidence is also quite high. This, as a result, is impacting the demand for gastrointestinal drugs greatly.
Apart from this, the increasing investments in research activities for the development of these drugs and the growing awareness about the availability of the treatments are also adding substantially to the growth of this market. In addition to this, the technological advancements in the treatment therapies are likely to boost this market remarkably in the near future. The overall opportunity in the global gastrointestinal drugs market was worth US$45.5 bn in 2015. Expanding at a CAGR of 4.90% between 2016 and 2024, it is estimated to reach US$61.6 bn by the end of 2024.
Rise in Geriatric Population to Ensure Dominance of North America
Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa are the main geographical segments of the worldwide market for gastrointestinal drugs. North America has emerged as the leading regional market for gastrointestinal drugs across the world. Thanks to the presence of consumer-friendly reimbursement policies for the treatment of chronic diseases, it acquired a share of more than 41% in 2016 in the overall market. With the rising number of elderly people, who are prone to gastrointestinal diseases, the North America market for gastrointestinal drugs is likely to maintain its lead over the forthcoming years.
Europe held the second position in the global gastrointestinal drugs market in 2016 and is anticipated to continue being in this position in the near future. The advent of biosimilars for patent-protected brands available for the treatment of inflammatory bowel disease is anticipated to work in the favor of the gastrointestinal drugs market in Europe over the next few years.
Asia Pacific is expected to surface as the most lucrative market for gastrointestinal drugs among others in the years to come. The improvement in the medical and healthcare infrastructure, rise in the private and public investments in life sciences research, and the technological advancements in the treatments of gastrointestinal diseases in emerging economies, such as India and China, are projected to propel the Asia Pacific gastrointestinal drugs market to great extents in the future.
Acid Neutralizers to Witness Continued High Demand
Acid neutralizers, antiemetic and antinauseants, antidiarrheal and laxatives, anti-inflammatory drugs, and biologics are the key drug classes of gastrointestinal drugs. Thanks to the rising prevalence of gastroesophageal reflux disease (GERD), the demand for acid neutralizers has been higher than other gastrointestinal drugs across the world. Owing to its cost efficiency, the segment is likely to maintain the pace of demand over the forthcoming years.
Abbott Laboratories, Allergan Plc, AstraZeneca, Bayer AG, Boehringer Ingelheim GmbH, GlaxoSmithKline Plc., Janssen Biotech Inc., Sanofi, Takeda Pharmaceutical, and Valeant Pharmaceuticals Inc. are some of the leading players in the global gastrointestinal drugs market.
Global Gastrointestinal Drugs Market: Overview
Gastro esophageal reflux disease (GERD), inflammatory bowel disease (IBD) and irritable bowel syndrome (IBS) are types of gastrointestinal disease. gastro esophageal reflux disease (GERD) is a chronic gastric illness that arises when acidic juices in the stomach come back up into the esophagus from stomach, this can leads to irritation of esophagus and causes symptoms like heartburn, gas, etc. Inflammatory bowel disease is a group of chronic inflammation of small and large intestine. Ulcerative Colitis and Crohn’s disease are the two major types of inflammatory bowel disease. Irritable bowel syndrome (IBS) is a chronic condition that affects the colon (large intestine). Diarrhea, constipation, abdominal pain, cramping are the common symptoms of irritable bowel disease.
The market overview section of the report comprises qualitative analysis of the overall gastrointestinal drugs market considering the factors determining the market dynamics such as drivers, restraints and opportunities, along with Porter’s five force analysis and market attractiveness analysis. In addition, such as market opportunity analysis for the drug class, route of administration, drug class, distribution channel, and key industry developments has also been provided. Key industry developments include the major events occurred in past 4-5 years and are expected to occur during the forecast period which are likely to affect the market dynamics.
Global Gastrointestinal Drugs Market: Segmentation
The global gastrointestinal drugs market has been segmented on the basis of drug class, route of administration, drug class, distribution channel. On the basis of drug class the global gastrointestinal drugs market is segmented into acid neutralizers, antidiarrheal and laxatives, antiemetic and antinauseants, anti-inflammatory drugs, biologics and others including antispasmodic etc. The acid neutralizer segment is again segmented as antacids, H2 antagonists and Proton pump inhibitors. On the basis of route of administration, the global gastrointestinal drugs market has been segmented into three types such as, oral, parenteral and rectal. Based on disorder type, the global gastrointestinal drugs market is segmented into gastro esophageal reflux disease, inflammatory bowel disease and Irritable bowel syndrome. On the basis of distribution channel, the global gastrointestinal drugs market is segmented as hospital pharmacies, retail pharmacies and online pharmacies.
The market for these drug class, route of administration, disorder type, and distribution channel has been extensively analyzed on the basis of factors such as usage pattern, sales revenue, and geographic presence and product developments. The market size and forecast in terms of revenue (US$ million), for each of these segments, and the sub-segments have been provided for the period 2014 to 2024, considering 2015 as the base year. The report also provides the compounded annual growth rate (CAGR) for each segment for the forecast period 2016 to 2024.
Geographically, the gastrointestinal drugs market has been classified into five segments, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The market size forecast for each region has been provided for the period 2014 to 2024, in terms of drug class, route of administration, disorder type, and distribution channel, along with the CAGR (%) for the forecast period 2016 to 2024.
Global Gastrointestinal Drugs Market: Competitive Analysis
The report also provides a section on the competitive landscape, wherein the market share analysis of leading players in the global gastrointestinal drugs market, in terms of percentage share in 2016 (estimated) has been discussed. A list of recommendations has also been included for new entrants as well as existing market players to help them establish a strong presence in the market and increase their market share.
The report concludes with the profiles of major players in the global gastrointestinal drugs market such as Takeda pharmaceutical, Valeant Pharmaceuticals International, Inc., Janssen Biotech, Inc., Bayer AG, Sanofi, AstraZeneca, Allergan Plc, GlaxoSmithKline, Abbott Laboratories, Boehringer Ingelheim GmbH and Allergan Plc., among others. The major market players are evaluated on various parameters such as company overview, financial overview, product portfolio, business strategies and recent developments.
The global gastrointestinal drugs market is segmented as follows:
By Drug Class
- Acid Neutralizers
- H2 antagonists
- Proton pump inhibitors
- Antidiarrheal and Laxatives
- Antiemetic and Antinauseants
- Anti-inflammatory drugs
- Others (Antispasmodic etc.)
By Route of Administration
By Disorder Type
- Gastro Esophageal Reflux Disease
- Inflammatory Bowel Disease
- Irritable Bowel Syndrome
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Southern Global
- Middle East & Africa
- GCC countries
- South Africa
- Rest of Middle East & Africa