Gastrointestinal diseases are quite common all over the globe, and various treatments are available to tackle these health issues. One such way is the proper administration of a variety of drugs, thereby constituting a distinct gastrointestinal drugs market from a global perspective.
This market is mainly being driven due to rapidly progressing interests in research activities happening in drug development-based activities all over the globe. Moreover, cases of such ailments are quite common in old-aged people, and a rising geriatric population is also increasing the demand of such drugs. In addition, changing lifestyles, unhealthy eating habits, and increasing levels of stress also are key factors driving growth in the global gastrointestinal drugs market. With innovative advancements occurring in the techniques implemented for curing such issues at a steady pace, the global gastrointestinal drugs market is anticipated to register splendid revenue in the years to come.
As per expert analysts, the global gastrointestinal drugs market is foretold to clock revenue valuation of US$61.6 bn by 2024, which is a decent increase from an initial valuation of US$45.5 bn clocked in 2015. This growth is prophesized to occur at a healthy CAGR of 4.90% during the forecast period from 2016 to 2024.
Acid Neutralizers Come Out as Winning Segment in the Market
The global gastrointestinal drugs market is segregated into various segments on the basis of various criteria such as drug class, route of administration, disorder type, distribution channel, and regional spread. Under drug class, acid neutralizers, anti-diarrheal and laxatives, antiemetic and anti-nauseants, anti-inflammatory drugs, biologics, and antispasmodic, are key segments. Acid neutralizers are further subdivided into antacids, h2 antagonists, and proton pump inhibitors, in the form of sub-segments. In terms of administration route, oral, parenteral and rectal make up for the gastrointestinal drugs market. Under disorder type, gastro-esophageal reflux disease, inflammatory bowel disease, and irritable bowel syndrome, are prime illness types that require the administration of drugs. Whereas, the drugs are sold through three key distribution channels: hospital pharmacies, retail pharmacies, and online pharmacies.
Among all the drug classes, a rising demand for prevention of gastroesophageal reflux disease (GERD) has led to an increasing use of acid neutralizers. In this way, the acid neutralizers segment holds a dominant position in the global gastrointestinal drugs market. Moreover, the cost efficiency of such neutralizers too has contributed towards the segment’s splendid growth and presence in the market. Even in future, compared to other segments present under the drug class criteria, acid neutralizers are expected to continue gaining extensive revenue for the global gastrointestinal drugs market.
Region-wise, the global gastrointestinal drugs market is spread across North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of these, North America occupies the primary slot in terms of revenue generation in the market. This is mainly due to the presence of favorable reimbursement policies in this region, which are highly beneficial for the welfare of those affected by gastrointestinal issues. Moreover, rapidly increasing instances of various chronic diseases, wherein gastrointestinal problems might exist as a key symptom, also is a prime factor responsible for the market’s progress in North America. To be specific, the region had registered a share of more than 41% in 2016, compared to other regions. With a surge in the number of old-aged people present in North America, the sales of gastrointestinal drugs are prophesized to rapidly increase in the near future.
In terms of the vendor landscape, Abbott Laboratories, Allergan Plc, AstraZeneca, Bayer AG, Boehringer Ingelheim GmbH, GlaxoSmithKline Plc., Janssen Biotech Inc., Sanofi, Takeda Pharmaceutical, and Valeant Pharmaceuticals Inc. are chief players operating 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