6.7% CAGR of Gastrointestinal Therapeutics Market Sales Continue to Peak: Statistics Study by Market.us
Pune, Maharashtra, India, September 15 2022 (Wiredrelease) Prudour Pvt. Ltd –:The global gastrointestinal therapeutics market size was valued at USD 51.10 billion in 2016 and is slated to expand at a lucrative CAGR of 6.7% over the forecast period.
The market’s primary driver is the growing use of biologics in the treatment of gastrointestinal disorders. According to the Centers for Disease Control and Prevention, approximately 11.3 million people in the United States are affected by Inflammatory Bowel Disease. Crohn’s Disease and Ulcerative Colitis are both prevalent in 201 and 238 people per 100,000, respectively.
Studies have shown that biologics are more effective over the long term. University of Chicago researchers found that the use of biologics has led to a decrease in surgeries, emergency room visits, and hospitalizations of approximately 40.0%.
There are several factors that have contributed to the rise in the market for gastrointestinal therapeutics. These include an increasing number of people suffering from gastrointestinal problems due to poor dietary habits, increased healthcare spending and an increase in the elderly population.
Targeted therapies include novel small molecules as well as cellular therapy. Other factors are the increasing number of hospitalizations for GI disorders and the increase in R&D investments made by biopharmaceutical firms to develop biosimilars and biologics. According to the National Clinical Trials Registry (NCT), there were 6,443 active clinical trials related with gastrointestinal diseases in various phases of development. These positive outcomes can lead to new opportunities for therapeutics in the future.
The low awareness and high cost of treating diseases can prevent the public from reporting them promptly. The market for gastrointestinal therapeutics is not growing due to these risk factors and the increasing number patent expirations.
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Key Market Trends
Shinji Okabayashi and colleagues published a study in the Journal of the Anus, Rectum, and Colon, in January 2020, showing that Japan had around 180,000 people with ulcerative colitis. Additionally, it has been shown that ulcerative colitis is on the rise in Latin America. Paulo Gustavo Kotze et. al. published a study in Therapeutic Advances in Gastroenterology Journal in June 2020. It found that the incidence and prevalence rates of ulcerative colitis in Latin America ranged between 0.04 and 8.00/100,000. and 0.23 and 76.1/100,000. Research and studies have shown that Ulcerative colitis is becoming more common and prevalent in Latin America. This is driving demand for this segment.
Gastrointestinal Therapeutics Market: Scope of the Report
The market estimates included in the report are based on extensive secondary research as well as primary interviews and in-house reviews. The consideration of Market estimates will be evaluated based on the market’s current market dynamics and the impact of various socio-political and economic factors. In addition to the market overview, which comprises market dynamics the section also includes Porter’s Five Forces Analysis which explains the five forces that are: buyer’s bargaining power, supplier’s bargaining power, the threat of new entrants, threat of substitutes, and degree of competition in the Gastrointestinal Therapeutics Market.
Gastrointestinal Therapeutics Market: Competitive Landscape
Innovation and up-gradation in technologies across various industries are bringing new players to the market. The section contains information regarding the financial revenue and key developments of all the major market competitors. This includes SWOT analysis, product benchmarking, key developments and key developments of any 3-5 top market players. This section allows clients to customize the companies they wish to include.
Examples of some of the major players in the global Gastrointestinal Therapeutics market are
Johnson & Johnson
F. Hoffmann-La Roche
Procter & Gamble
On the basis of product type, the global Gastrointestinal Therapeutics market is segmented into:
On the basis of application, the global Gastrointestinal Therapeutics market is segmented into:
Irritable Bowel Syndrome (IBS)
Global Gastrointestinal Therapeutics Market: Geographical Analysis
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The Market.us Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
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North America: U.S and Canada
Europe: Germany, France, Italy, U.K, Spain, Russia, Rest of Europe
APAC: China, Japan, South Korea, India, Australia, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Mexico
The Middle East And Africa: Saudi Arab, South Africa, UAE
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1. Current Challenges and Future Threats Outlook (2022-2031)
2. Accurate Market Trends and Developments
3. Regional Assessment
4. Industrial Analogy
5. COVID-19 Impact, Russia-Ukraine War Impact, Tension between China and Taiwan
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FREQUENTLY ASKED QUESTIONS
Q1. How big is the Gastrointestinal Therapeutics market?
Q2. What is the total market worth of Gastrointestinal Therapeutics market?
Q3. What is the Gastrointestinal Therapeutics market growth?
Q4. What are the recent trends affecting the Gastrointestinal Therapeutics market?
Q5. Which segment accounted for the largest Gastrointestinal Therapeutics market share?
Q6. Who are the key companies/players in the Gastrointestinal Therapeutics market?
Q7. What are the factors driving the Gastrointestinal Therapeutics market?
Q8. Which region is expected to project the highest market share in the global Gastrointestinal Therapeutics market?
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