Gastrointestinal Drugs Market Expected to grow at CARG 4.8 % during forecast period 2023

June 17, 2017 Pune, India, / Market Research Future published a half cooked research report on Global Gastrointestinal Drugs Market which is estimated to grow at a CAGR OF 4.8% after 2023.

Key Highlights on Gastrointestinal Drugs Market 

Gastrointestinal (GI) drug market involves pharmacological and non-pharmacological treatment. Different types of gastrointestinal disorder includes constipation, diverticular diseases, colon polyps, irritable bowel syndrome, and many more. Many of the GI diseases can be prevented and minimize by maintaining a healthy lifestyle and balanced diet. The factors like increasing prevalence of various different gastrointestinal disease, increasing elderly population, technological advancement are responsible for driving the growth of gastrointestinal market. Whereas unavailability of treatment for some of gastro intestinal disease may be responsible for hampering the market growth.

Many different types of drugs are available in the market. The major class of GI drugs are 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 diarrhea, gas, and abdominal pain.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of @ Gastrointestinal Drugs Market

Segmentation:

Global Gastrointestinal Drugs market has been segmented on the basis of Drug Category they are segmented into Acid Neutralizers, Laxatives and Antidiarrheal, antiemetic, Anti-inflammatory drugs and other. By Route of Administration they are segmented into Oral, Parenteral and rectal. By disease Type they are Gastroesophageal Reflux Disease, Inflammatory Bowel Disease and Other. And by End User Hospital Pharmacies, Retail Pharmacies and Other.

Acid Neutralizers which are further sub segmented into Antacids, H2 antagonists, Proton pump inhibitors and Others,

The global gastrointestinal drug market in 2015 was 43.2 billion. Due to technological advancement and increasing gastrointestinal drug population the market is expected to grow at CAGR of 4.8% during forecasted period 2017- 2023. The market is estimated to reach USD 59.3 billion by end of 2024. North America dominates the gastrointestinal drug market. Almost 40 % of total market is acquired by North America. But due to saturation this region is expected to have a steady and flat growth in coming future. Asia pacific region is a prominent region for development of market. Increasing population, infrastructure development and technological advances has served as a major driver for the growth of this market in Asia Pacific region.

There is a huge scope for the market in future. GI diseases like irritable bowel syndrome (IBS) and inflammatory bowel disease (IBD) did not have a perfect treatment. This can be a great opportunities for the manufacturer for the development of novel drug for treatment.

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 holds the largest market share for gastrointestinal drug due to drugs like Remicade and Simponi.

The key players in global gastrointestinal drug market are 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).