Global Gastrointestinal Drugs Market – Overview
Gastrointestinal (GI) diseases affect stomach, large intestine and rectum, small intestine, oesophagus, 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 world’s total population is suffering from acute or chronic GI complication.
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 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 study almost 70 % of total American population is suffering from acute or chronic gastrointestinal problems like diarrhoea, gas, and abdominal pain.
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.
According to a recent gastrointestinal drugs market report published by the Market Research Future, the global industry is booming and expected to gain eminence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2030, 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 opportunity for the manufacturer to development of novel drug for the treatment of GI diseases.
Global Gastrointestinal Drugs Market – Competitive Analysis
The market for gastrointestinal drugs is characterized 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 presence of blockbuster drugs like Remicade and Simponi in the global pharmaceutical market.
Global Gastrointestinal Drugs Market – Top 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 Gastrointestinal Drugs Market Players at the forefront of competition in the Global market and are profiled in MRFR Analysis.
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