Dublin, Jan. 30, 2023 (GLOBE NEWSWIRE) — The “Global Gastrointestinal Therapeutics Market Size, Share and Trend Analysis Report by Type, by Distribution Channel, by Route of Administration ( injectable and oral and others), by application, by Drug Class, By Regional Outlook and Forecast, 2022 – 2028″ report has been added to from ResearchAndMarkets.com offer.
The global gastrointestinal therapeutics market size is expected to reach USD 45.9 billion by 2028, with the market growing at 3.8% CAGR during the forecast period.
HCV treatment has changed dramatically over the past few years, and now most patients are treatment candidates and have a greater likelihood of permanent cure. Drug therapy is now the first-line treatment for patients with moderate to severe symptoms of irritable bowel syndrome.
Proton pump inhibitors (PPIs) are the mainstay of treatment for gastric and duodenal ulcers and GERD, although long-term use carries the risk of several side effects that should be kept in mind.
Market Growth Factors
Increase in health expenditure
One of the major factors driving the boom of the market is the increasing size and number of investments being made in the healthcare system by the government and private organizations in various countries. More developing countries would have better access to high quality health care due to rapid economic development and rising cost of health care. Governments of different nations are working to expand reimbursement options and improve people’s access to good medical services.
Robust product development
The increasing incidence of gastrointestinal diseases, which range from severe to moderate, such as ulcerative colitis, Crohn’s disease and other gastrointestinal diseases, increases the need for advanced therapies. As a result, biotech and pharmaceutical companies are focusing more on R&D to discover and develop new products for the treatment of gastrointestinal diseases, thereby increasing their product portfolio. Additionally, the increasing development of drugs for gastrointestinal disorders by vendors around the world is expected to contribute to the growth.
On the basis of type, the gastrointestinal therapeutics market is segmented into branded and generic. The branded segment generated the highest revenue share in the gastrointestinal therapeutics market in 2021. This is due to factors such as strong commercial performance of branded gastrointestinal therapeutics, promising candidates in the pipeline of research associated with premium pricing and market exclusivity. Additionally, increasing regulatory approvals of branded drugs is expected to augment the growth of the segment over the projected period.
Drug class outlook
By drug class, the gastrointestinal therapeutics market is fragmented into aminosalicylates, digestive enzymes, proton pump inhibitors, laxatives, antiemetics, H2 antagonists, antidiarrheals, biologics/biosimilars and others.
The antidiarrheal segment recorded a major revenue share in the gastrointestinal therapeutics market in 2021. This is due to their use in the treatment of chronic and acute diseases. They help reduce the urgency and frequency of passing stools while helping to relieve pain, especially if the patient has cramps. The antidiarrheal can also be used without a doctor’s description.
Outlook administration route
On the basis of route of administration, the gastrointestinal therapeutics market is divided into oral, injectable and others. The injectable segment has acquired the highest revenue share in the gastrointestinal therapeutics market in 2021.
The higher the adoption rate of biologic drugs, the higher the prices, rapid onset of action, higher bioavailability and less possibility of first-pass metabolism in the case of injectable drugs are the factors responsible for the market expansion.
By application, the gastrointestinal therapeutics market is categorized into Crohn’s disease, ulcerative colitis, GERD, IBS and others. Crohn’s disease segment garnered the maximum revenue share in the gastrointestinal therapeutics market in 2021.
This is due to the increasing incidence of Crohn’s disease (CD) over the past 5 decades, the increasing approval of new drugs for CD, and the many diagnostic techniques for Crohn’s disease such as imaging modalities. or serological markers that aid in both monitoring and diagnosis, are expected to increase the crohn’s disease market over the projected period.
Distribution Channel Insights
Based on the distribution channel, the gastrointestinal therapeutics market is divided into hospital pharmacies, retail pharmacies and online pharmacies. The online pharmacy segment recorded a substantial revenue share in the gastrointestinal therapeutics market in 2021.
This is due to the growing internet penetration, growing trends of online pharmacies, and numerous discounts offered by online pharmaceutical players. Also, the adoption of telemedicine has increased during the pandemic which continues to grow even after COVID-19 is expected to further increase the market segment during the forecast period.
Main market players
List of companies featured in the report:
- Abbott Laboratories
- AbbVie, Inc.
- Takeda Pharmaceutical Company Limited
- Pfizer, Inc.
- Salix Pharmaceuticals, Inc. (Bausch Health Companies, Inc.)
- Johnson & Johnson (Janssen Global Services, LLC)
- AstraZeneca PLC
- Bayer AG
- Sun Pharmaceutical Industries Ltd.
- Cipla Limited
For more information about this report visit https://www.researchandmarkets.com/r/knktrp
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