Gastrointestinal Therapeutics Market

Market Overview

The global gastrointestinal therapeutics market size was valued at USD 70.92 billion in 2021, and it is anticipated to reach USD 125.42 billion by 2030 at a CAGR of 6.54%.

A medical condition known as gastrointestinal (GI) syndrome disrupts the normal functioning of the organs that are located in the digestive tract. Indigestion, heartburn, constipation, and bloating are commonly associated with this condition, affecting the stomach, pancreas, small and large intestines, gall bladder, and liver. Antacids, laxatives, antidiarrheal agents, antiemetics, antiulcer agents, endoscopic and radiological procedures, and hematological tests are just some over-the-counter (OTC) drugs like prescription medications that are included in the category of gastrointestinal (GI) therapeutics that are frequently used. These therapies help diagnose the condition and absorb nutrients from meals to enhance digestion, regulate water flow throughout the gastrointestinal tract, and reduce the amount of gastric acid produced.

One of the primary forces behind expanding the market is the rising incidence of gastrointestinal conditions, including inflammatory bowel disease (IBD) and ulcerative colitis. It is one of the crucial elements driving the growth of the market. Patients all over the world are at an elevated risk of having a relapse of their condition because of shifting lifestyle patterns and improper food habits. This industry is also benefiting from an ageing population, which is more prone to illnesses like diabetes and heart disease. Other growth-inducing elements include technological breakthroughs, such as developing novel biosimilars and cellular therapies for treating the illness. These types of treatments are currently being researched and developed.

Market Dynamics

Global Gastrointestinal Therapeutics Market Drivers

The rising prevalence of gastrointestinal diseases

The growing prevalence of gastrointestinal illnesses is the primary factor in market growth. In addition, it is projected that the robust product pipeline would contribute to expanding the market for therapies to treat gastrointestinal illnesses.

There has been a notable rise in certain gastrointestinal conditions, including gallstones, ulcerative colitis, fissure, hemorrhoids, and irritable bowel disease (IBD), amongst others, over the past few decades. If these diseases are not treated on time, they have the potential to result in a variety of medical issues and disabilities. Because of this, there has been a rise in the demand for various medications, including antacids and H2-receptor antagonists, laxative and proton pump inhibitors, as well as antibiotics. It leads to an increase in demand for numerous medications for treating gastrointestinal disorders. In turn, it contributes to the expansion of the global market for pharmaceuticals used to treat gastrointestinal diseases.

Rising inflammatory bowel diseases (IBS) in western countries

Canada, the US and the UK are among the Western nations experiencing an increase in the GI incidence rate. It is mainly attributable to the growing prevalence of obesity in the adult population and the declining dietary fiber intake. According to the Centers for Disease Control and Prevention (CDC), in 2018, 22.4 million visits to medical practices across the United States were mainly focused on diagnosing conditions related to the digestive system. Both the incidence and prevalence of gastrointestinal illnesses are higher in the population of adults and the elderly. It is anticipated that the prevalence of the disease will rise along with the population's average age. Inflammatory bowel illnesses, Crohn's disease, and ulcerative colitis are widespread, chronic inflammatory conditions that affect a significant portion of the world's population and are categorized as gastrointestinal (GI) disorders. It happens due to various circumstances, including a sedentary lifestyle, shifting food habits, stress, etc. The incidence and prevalence of irritable bowel syndrome (IBS) have risen globally over the past few decades. According to the International Foundation for Gastrointestinal Disorders, Inc., irritable bowel syndrome (IBS) is the most prevalent functional gastrointestinal disorder globally, with a prevalence rate ranging from 10–15%. The majority of people go to the doctor because of this. Irritable bowel syndrome is the cause of around 2.4–3.5 million visits to physicians each year in the United States.

Global Gastrointestinal Therapeutics Market Restraints

Hazardous medication effects are subject to regulation by the government of respective countries

Most governments worldwide regulate pharmaceutical corporations to safeguard their citizens from hazardous drug effects. These rules frequently lengthen the time it takes to bring new drugs to market.

The Food and Drug Administration (FDA) in the United States ensures that new pharmaceuticals are thoroughly studied for safety and efficacy to minimize side effects.

As a result of this testing, most new pharmaceuticals are researched and investigated for ten years before being released to the public. Drugs must, in particular, undergo human trials to identify potential side effects and reliably assess treatment efficacy. Suppose a new drug is found to be ineffective or to cause unpleasant side effects at any stage during the multi-iterative testing process. In that case, the corporation may conduct additional laboratory research to improve the results. Because this can be pretty costly, businesses frequently examine whether it is more cost-effective to continue attempting to obtain desired results or whether they should divert their resources elsewhere. These factors hinder the growth of the gastrointestinal therapeutic market.

Segmental Analysis

The global gastrointestinal therapeutics market is segmented into five parts based on product, application, end-users, dosage form, and region.

Further, the market is divided into OTC Gastrointestinal Therapeutics and Prescription Based Gastrointestinal Therapeutics based on product.

The market is classified into Irritable Bowel Syndrome, Peptic Ulcer Disease (PUD), Gastroenteritis, GI Bleeding, and others based on application.

The market is divided into Hospitals, Clinics, and others based on end-users.

Regional Analysis

The global gastrointestinal therapeutics market is divided into North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa. North America dominates the market.

It is anticipated that the gastrointestinal therapeutics market growth will receive a boost from expanding the market for gastrointestinal therapeutics in North America. It is because of rising healthcare spending and initiatives taken by the government to increase awareness of and access to more effective gastrointestinal therapy options in the region.

The market for gastrointestinal treatments in the Asia Pacific, excluding China, is anticipated to develop at the highest CAGR due to an increasing patient pool due to an unclean and sedentary lifestyle and inadequate sanitation facilities in this area.

Recent Developments

• In May 2022, Abbott announced that it received approval to distribute limited quantities of EleCare® specialized amino acid-based formulas that had been on hold since the recall of some newborn powder formulas from its Sturgis, Michigan facility on February 17.
• May 2022, at the Digestive Disease Week (DDW) Annual Meeting between May 21-24, 2022, AbbVie presented 27 abstracts from across its gastrointestinal portfolio in San Diego, virtually.
• In February 2022, the application period for the 2022 Salix Gastrointestinal Health Scholars Program has opened, according to Bausch Health Firms Inc. ("Bausch Health") and its gastroenterology business, Salix Pharmaceuticals ("Salix"), one of the world's biggest specialty pharmaceutical companies dedicated to the prevention and treatment of gastrointestinal illnesses.

Gastrointestinal Therapeutics Market Segmentation

By Product

• OTC Gastrointestinal Therapeutics
• Prescription-Based Gastrointestinal Therapeutics

By Application

• Irritable Bowel Syndrome
• Peptic Ulcer Disease (PUD)
• Gastroenteritis
• GI Bleeding
• Others

By End-Users

• Hospitals
• Clinics
• Others

By Dosage Form

• Injections
• Oral

By Region

• North America
• Europe
• Asia-Pacific
• LAMEA