Global Gastrointestinal Therapeutics Market Report 2022: Robust Product Development Presents Opportunities
Dublin, Jan. 30, 2023 (GLOBE NEWSWIRE) -- The "Global Gastrointestinal Therapeutics Market Size, Share & Industry Trends Analysis Report By Type, By Distribution Channel, By Route of Administration (Injectable and Oral & Others), By Application, By Drug Class, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Gastrointestinal Therapeutics Market size is expected to reach $45.9 billion by 2028, rising at a market growth of 3.8% CAGR during the forecast period.
HCV treatment has radically changed in the past few years, and now most patients are treatment candidates and have a higher likelihood of a permanent cure. Pharmacotherapy is now the first-line treatment for patients with moderate to severe symptoms of irritable bowel syndrome.
Proton pump inhibitors (PPIs) are the pillar of the therapy in gastric and duodenal ulcers and GERD, although long-term use carries the risk of several side effects which should be kept in mind.
Market Growth Factors
Rising Expenditure on Healthcare
One of the main factors boosting the market's rise is the increasing size and number of investments made in the healthcare system by the government and private organizations of various nations. More developing countries would have greater access to high-quality healthcare due to the fast economic development and growing healthcare cost. Governments of different nations are working on expanding reimbursement options and improving inhabitants' access to good medical services.
Robust Product Development
The rising incidence of gastrointestinal diseases, which ranges from severe to moderate, like ulcerative colitis, Crohn's disease, and other gastrointestinal diseases, is surging the requirement for advanced therapeutics. As a result, biotechnology and pharmaceutical companies are concentrating more on R&D to discover and develop new products for treating gastrointestinal diseases, increasing their product pipeline. In addition, the increasing development of drugs for gastrointestinal disorders by vendors globally is expected to add to the growth.
Based on type, the gastrointestinal therapeutics market is segmented branded and generics. The branded segment garnered the highest revenue share in the gastrointestinal therapeutics market in 2021. This is due to the factors like the strong commercial performance of the branded gastrointestinal therapeutics, promising investigational pipeline candidates joined with the premium prices, and market exclusivity. Also, the rising regulatory approvals of branded drugs are anticipated to grow the segment's growth in the projected period.
Drug Class Outlook
By drug class, the gastrointestinal therapeutics market is fragmented into aminosalicylates, digestive enzymes, proton pump inhibitors, laxatives, anti-emetics, H2 antagonists, anti-diarrheal, biologics/biosimilar and others.
The antidiarrheal segment recorded a significant revenue share in the gastrointestinal therapeutics market in 2021. This is due to their usage in the treatment of chronic and acute diseases. They help to reduce the urgency and frequency of the stools passing while also assisting in easing pain, especially if the patient has cramping pain. Antidiarrheal can also be used without the description of a doctor.
Route Of Administration Outlook
On the basis of route of administration, the gastrointestinal therapeutics market is divided into oral, injectable and others. The injectable segment acquired the highest revenue share in the gastrointestinal therapeutics market in 2021.
The higher the adoption rate of the biological drugs, the higher prices, rapid onset of action, higher bioavailability, and less possibility of first-pass metabolism in the case of injectable medications are the factors responsible for market's expansion.
By application, the gastrointestinal therapeutics market is classified into crohn's disease, ulcerative colitis, GERD, IBS and others. The crohn's disease segment garnered the maximum revenue share in the gastrointestinal therapeutics market in 2021.
This is due to the increasing incidences of the Crohn's diseases (CD) in the last 5 decades, the rising approval of the novel drugs for CD and the numerous diagnostic techniques for the Crohn's disease like imaging modalities or serological markers which are helping in both monitoring and diagnosis, are expected to increase the market for crohn's disease in the projected period.
Distribution Channel Outlook
Based on distribution channel, the gastrointestinal therapeutics market is bifurcated into hospital pharmacies, retail pharmacies and online pharmacies. The online pharmacies segment recorded a substantial revenue share in the gastrointestinal therapeutics market in 2021.
This is due to the growing internet penetration, rising online pharmacies trends, and numerous discounts offered by online pharma players. Also, the adoption of telemedicine has increased during the pandemic, which is still growing even after COVID-19, is expected to further raise the market segment in the forecasted period.
Key Market Players
List of Companies Profiled in the Report:
Takeda Pharmaceutical Company Limited
Salix Pharmaceuticals, Inc. (Bausch Health Companies, Inc.)
Johnson & Johnson (Janssen Global Services, LLC)
Sun Pharmaceutical Industries Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/knktrp
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