The gastrointestinal drugs market was valued at US$ 49,043. 38 million in 2019 and is projected to reach US$ 71,300. 28 million by 2027; it is expected to grow at a CAGR of 4. 9% from 2020 to 2027.
New York, Nov. 20, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Gastrointestinal Drugs Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Drug Class ; Route of Administration ; Application ; Distribution Channel, and Geography" - https://www.reportlinker.com/p05988368/?utm_source=GNW
The growth of the gastrointestinal drugs market is mainly attributed to factors such as rise in prevalence of gastrointestinal (GI) diseasesand increase in development of biologics. However, the market is likely to get impacted by the low awareness associated with gastrointestinal disorders in low-income economiesduring the forecast period.
Increasing development of biologics for the treatment of GI diseases is driving the growth of the market .In the last few years, new treatments called biologics are being used for the treatment of inflammatory diseases.
Currently, the FDA has approved Humira, Cimzia, Remicade, Simponi, Tysabri, and Entyvio biologics for the treatment of Crohn’s disease and ulcerative colitis (UC).Biologics have revolutionized the IBD treatment, and their success in the treatment of these indications is driving the use of biologics in other GI conditions, such as celiac disease, eosinophilic esophagitis, and autoimmune hepatitis.
The development of new medication is driving the growth of the market .For instance, in September 2019, Janssen Pharmaceutical received the European Commission approval for STELARA.
It would be used in the treatment of moderately to severely active ulcerative colitis in adults. It is the first biologic treatment that would target the IL-12/IL-23 pathway, an important therapeutic target in UC. Apart from this, strategic initiatives by market players, such as product launch in untapped market s, are further driving the growth of the market . For instance, in July 2020, Takeda Pharmaceutical Company launched its blockbuster biologic drug Vedolizumab in India as part of its GI portfolio. Vedolizumab would be sold in India under the brand name Kynteles. It would be used for the treatment of chronic inflammatory bowel diseases, such as ulcerative colitis and Crohn’s disease. The cases of GI disorders are on the rise in developing countries. For instance, there are currently around 1.5 million IBD patients in India. The introduction of new biologics in these market s is expected to drive the market growth during the forecast period.
Moreover, along with product launches, the market players are carrying out different strategies to add innovative therapies in their product portfolio.This is further driving the growth of the gastrointestinal drugs market .
For instance, in February 2020, Takeda Pharmaceutical Company Limited acquired PvP Biologics, Inc.This acquisition added investigational medicine TAK-062 (Kuma062) in the company’s GI portfolio, which would be used for the treatment of uncontrolled celiac disease.
The company is planning to submit data from the Phase 1 study for presentation at an upcoming medical congress.Globally, many people are living with celiac disease, and they manage their symptoms by following a gluten-free diet.
There is still no treatment for people who experience severe symptoms. With this acquisition, the company is expecting to bring new therapies in the area of celiac disease management.
Drug Class-Based Insights
Based on drug class, the gastrointestinal drugs market is segmented into acid neutralizers, antidiarrheal and laxatives, anti-inflammatory drugs, antiemetic and antinauseants, biologics, and others.In 2019, the acid neutralizers segment accounted for the highest share of the market .
Growth of this segment is attributed to increasing incidence of GERD and rising patient pool across the globe. However, the biologics segment is likely to register highest CAGR in the global gastrointestinal drugs market during the forecast period.
Route of Administration-Based Insights
In terms of route of administration, the gastrointestinal drugs market is segmented into oral and parenteral. The oral segment held the largest share of the market in 2019, whereas the same segment is expected to register the highest CAGR of 5.2% in the market during the forecast period.
Based on application, the gastrointestinal drugs market is categorized into inflammatory ulcerative colitis, Crohn’s disease, irritable bowel syndrome, gastroenteritis, celiac disease, and others. The inflammatory ulcerative colitis segment held the largest share of the market in 2019, whereas the irritable bowel syndrome segment is estimated to register the highest CAGR of 5.8% during the forecast period.
Distribution Channel-Based Insights
In terms of distribution channel, the gastrointestinal drugs market is segmented into retail pharmacies, hospital pharmacies, and online pharmacies. The retail pharmacies segment held the largest share of the market in 2019, and same segment is projected to register the highest CAGR of 5.4% in the market during the forecast period.
National Health Interview Survey, Guts Charity organization, National Center for Biotechnology Information, ClinicalTrials.gov., European Federation of Crohn’s & Ulcerative Colitis Associations, Centers for Disease Control and Prevention, International Foundation for Gastrointestinal Disorders, Crohn’s & Colitis Foundation of America, American College of Gastroenterology, American Academy of Family Physicians, National Institutes of Health, Celiac Disease Foundation, International Trade Administration, InterAmerican Heart Foundation (FIC), Colombian Association of Integral Medicine Companies (ACEMI), are some of the major primary and secondary sources referred to whilepreparing this report.
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