Pune, India, July 11, 2023 (GLOBE NEWSWIRE) -- The Insight Partners latest study on "Gastrointestinal Drugs Market Size Report, Forecast to 2027 – COVID-19 Impact and Global Analysis – by Drug Class, Route of Administration, Application, and Distribution Channel,” the market size is expected to grow from $49.04 billion in 2019 to $71.30 billion by 2027; it is estimated to record a CAGR of 4.9% from 2020 to 2027. The global gastrointestinal drugs market majorly consists of the players such as Sanofi, GlaxoSmithKline plc, Johnson and Johnson Services, Inc., Bausch Health, AstraZeneca, Takeda Pharmaceutical Company Limited, AbbVie Inc., Bayer AG, Celltrion Healthcare Co., Ltd, and LEXICON PHARMACEUTICALS, INC.
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Global Gastrointestinal Drugs Market Strategic Insights:
| Report Coverage | Details |
| Market Size Value in | USD 49.04 Billion in 2019 |
| Market Size Value by | USD 71.30 Billion by 2027 |
| Growth rate | CAGR of 5.4% from 2020 to 2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
| No. of Pages | 160 |
| No. of Tables | 111 |
| No. of Charts & Figures | 79 |
| Historical data available | Yes |
| Segments covered | Drug Class, Route of Administration, Application, and Distribution Channel |
Global Gastrointestinal Drugs Market: Competitive Landscape and Key Developments
Sanofi, GlaxoSmithKline plc, Johnson and Johnson Services, Inc., Bausch Health, AstraZeneca, Takeda Pharmaceutical Company Limited, AbbVie Inc., Bayer AG, Celltrion Healthcare Co.,Ltd., and LEXICON PHARMACEUTICALS, INC, among others are a few of the key companies operating in the gastrointestinal drugs market. These companies adopt product innovation strategies to meet evolving customer demands, which allows them to maintain their brand name in gastrointestinal drugs market. A few of the recent developments in the global gastrointestinal drugs market are mentioned below:
In March 2020, Sanofi has collaborated with video consultation business Babylon, to offer an online AI Health Service for those who suffer from digestive health issues.
In April 2020, Cara Care has collaborated with the Consumer Healthcare Business Unit of Sanofi Germany on a holistic approach to digestive health that bundles Sanofi’s Buscomint bei Reizdarm pharmaceutical drug with Cara Care’s digital companion app for digestive conditions.
In January 2020, AstraZeneca will recover the global rights to brazikumab (formerly MEDI2070), a monoclonal antibody targeting IL23, from Allergan. Brazikumab is currently in a Phase IIb/III program in Crohn’s disease (CD) and a Phase IIb trial in ulcerative colitis (UC). AstraZeneca and Allergan will terminate their existing license agreement and all rights to brazikumab will revert to AstraZeneca. The transaction is expected to complete in the first quarter of 2020.
Browse key market insights spread across 160 pages with 111 list of tables & 79 list of figures from the report, "Gastrointestinal Drugs Market Forecast to 2027 - Global Analysis by Drug Class (Acid Neutralizers, Antidiarrheal and Laxatives, Anti-Inflammatory Drugs, Antiemetic and Antinauseants, Biologics, Others); Route of Administration (Oral, Parenteral); Application (Inflammatory Ulcerative Colitis, Crohn's Disease, Irritable Bowel Syndrome, Gastroenteritis, Celiac Disease, Others); Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/gastrointestinal-drugs-market
Increasing Investment in Research Activities to Drive Global Gastrointestinal Drugs Market Growth During 2020-2027:
Gastrointestinal diseases are becoming prevalent worldwide. Rapidly progressing research activities in drug development of novel therapeutics globally are driving the growth of the market. Many research institutes are offering funding to accelerate the discovery of novel methods for the treatment of GI disorders, which is offering lucrative opportunities for the discovery of new therapies. For instance, Yale School of Medicine receives US$ 8 million per year in research funding from NIDDK, more than any other digestive diseases section in the country. The major research areas are understanding mechanisms responsible for pancreatic inflammation and pancreatitis genetics and immunobiology of inflammatory bowel disease. Another institute, the UNC School of Medicine, which is engaged in advancing the understanding of gastrointestinal and liver diseases and developing new treatments, has a GI research funding of US$ 23 million annually. UNC has a dedicated center to research and clinical advances in the care of patients with esophageal diseases. Apart from this, the American Gastroenterological Association Research Foundation provides around US$ 3 million research grants annually to investigators in the fields of gastroenterology and hepatology.
Moreover, the pharmaceutical industry is continually evolving. There is always a need for new, innovative therapeutic approaches in the treatment of various GI indications. The GI candidates-based pipeline is growing for a wide range of therapeutic applications, including Crohn's disease, Ulcerative colitis, inflammatory bowel disease, and others. Many big and small pharmaceutical companies are engaged in the development of several GI biologics drugs. For instance, Synthetic Biologics, Inc. is a clinical-stage company leveraging the microbiome to develop therapeutics for GI. Its lead clinical candidate, SYN-004 (ribaxamase), is designed to degrade certain commonly used intravenous beta-lactam antibiotics within the GI tract to prevent microbiome damage. Thus, the growing innovative pipeline of GI drugs is, in turn, boosting the drug discovery activities across the industry.
The gastrointestinal drugs market is the fastest growing in the Asia Pacific region. In the region, China accounts for the largest share of the gastrointestinal drugs market. The gastrointestinal drugs market in the country is driven by the growing pharmaceutical market, increasing developments by the market players, and favorable regulatory policies. The excessive population in China coupled with the rise of gastrointestinal disease prevalence is majorly driving the growth of the gastrointestinal drugs market in China and making it a prime market in the Asia Pacific region.
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China is among the leading countries in developing healthcare infrastructure and various medicines. Country is accounted as the largest drug producer. Thus, the country was the largest contributor to the Asia-Pacific gastrointestinal drugs market. Thus, national demand for gastrointestinal disorder is expected to increase. According to the study, ‘Economic burden of irritable bowel syndrome in China’, China's Irritable bowel syndrome (IBS) incidence is significantly smaller than Western countries.
Also growing research on innovative therapies for gastrointestinal diseases is likely to have positive impact on the market growth. For instance, a research study conducted in China ‘Acupuncture plus Chinese Herbal Medicine for Irritable Bowel Syndrome with Diarrhea: A Systematic Review and Meta-Analysis’ was published in 2019. Thus, above mentioned factors are likely to propel the demand of gastrointestinal drugs market.
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