Gastrointestinal Drugs Market Industry Share, Growth, Opportunity, Trends, Regional Analysis With Global Forecast To 203

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The gastrointestinal drugs market is expected to grow at a higher CAGR of 5.03% in the global market to account for a higher market value of approximately USD 75.56 billion by the end of the forecasted period from 2022-2030.

Global Gastrointestinal Drugs Market - Overview

Gastrointestinal (GI) diseases affect the stomach, large intestine and rectum, small intestine, esophagus, liver, gallbladder and pancreas. These diseases can cause symptoms such as heartburn, indigestion, bloating, constipation and many more. According to a report by the World Gastroenterology Organization, 35-40 % of the world's total population is suffering from acute or chronic GI complications. 

Many different types of drugs are available in the market. The major class of drugs associated with GI diseases includes Acid Neutralizers, Laxatives and Antidiarrheal, antiemetic, Anti-inflammatory drugs and many more. Acid neutralizers have a huge demand from the patient worldwide. Due to the increase in prevalence of gastroesophageal reflux disease (GERD) across the globe, demand for acid neutralizer is increasing day by day and is expected to grow at a similar rate in future. Antacids are the most famous and widely used acid neutralizer. Antacids are preferred as a cost-effective medication to reduce gastric irritation.  According to a study almost 70 % of the total American population is suffering from acute or chronic gastrointestinal problems like diarrhea, gas, and abdominal pain.

Gastrointestinal drugs market is growing steadily post 2016 with the CAGR of ~5.03%, thus growth period of this market can be stated as from 2022-2030. According to a recent study report published by the Market Research Future, the global gastrointestinal drugs market is booming and expected to gain eminence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a prominent CAGR during the anticipated period (2022 – 2030). There is a huge scope for the market growth in the coming future. GI diseases like irritable bowel syndrome (IBS) and inflammatory bowel disease (IBD) did not have a perfect treatment. These will act as a better opportunities for the manufacturer to development of novel drug for the treatment of GI diseases.

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Global Gastrointestinal Drugs Market - Competitive Analysis 

The market for gastrointestinal drugs is characterised by the presence of several well-established and small players, the global market of gastrointestinal drugs appears to be highly competitive and fragmented. Major players are increasingly expanding their footprint in the emerging nations, making it putting pressure on the regional players, especially in terms of features such as type, product portfolios, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The gastrointestinal drugs market appears to be highly competitive owing to the presence of several large and small key players accounting for a substantial market share. Several large and small-scale vendors are working in the market but the majority of market share is dominated by AbbVie, Allergan, Johnson Johnson and Sanofi. Johnson Johnson shares the largest market for gastrointestinal drugs due to the preence of blockbuster drugs like Remicade and Simponi in the global pharmaceutical market. 

In October 2016, Allergan acquired GI disease subsidiary of Rhythm Holding Company, LLC, which owns Motus Therapeutics, Inc. a biopharmaceutical company developing peptide therapeutics for the treatment of gastrointestinal (GI) disorders. This acquisition will help Allergan to expand its innovative gastroenterology pipeline. 

Moreover, in June 2016, - AbbVie along with EA Pharma a subsidiary of Japanese pharmaceutical company Eisai has begun the co-promotion of fully human anti-TNF-alpha monoclonal antibody Humira for indications in the field of gastrointestinal diseases.

Additionally, in January 2015, Janssen Pharmaceutical Companies of Johnson Johnson signed license agreement with Vedanta Biosciences for the company’s lead microbiome pharmaceutical candidate (VE202). Under terms of the agreement, Janssen will develop and seek to commercialize the pharmaceutical candidate in inflammatory bowel disease (IBD).

Therefore, the growing acquisitions, agreements will help the key competitors to expand their presence in various parts of the globe for their competitive products and will have spurred the growth of the market.  

 

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Key Players:

AbbVie Inc. (US), AstraZeneca (UK), Johnson Johnson (US), Valeant (US), Abbott Laboratories(US), Allergan Plc (US), Bayer AG (Germany), Janssen Biotech Inc. (US), Takeda Pharmaceutical Company Limited (Japan), Eisai Co., Ltd. (Japan), Valeant Pharmaceuticals (US), Sanofi (France), Janssen Biotech (US), GlaxoSmithKline Plc. (UK), Boehringer Ingelheim GmbH (Germany) are some of the prominent players at the forefront of competition in the Global Gastrointestinal Drugs Market and are profiled in MRFR Analysis. 

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

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