Gastrointestinal Drugs Market Value Worth $71.30 Billion, Globally, by 2027 at 4.9% CAGR | The Insight Partners

The Insight Partners published latest research report on "Gastrointestinal Drugs Market Sales Report, Size, Share, Trends, Growth and Demand Forecast to 2027 - COVID-19 Impact and Global Analysis by Drug Class; Route of Administration; Application; Distribution Channel and Geography" the global market size is projected to reach USD 71,300.28 million by 2027 from USD 49,043.38 million in 2019; it is expected to grow at a CAGR of 4.9% from 2020 to 2027.

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Growth Strategies by the Key Players Operating in the Gastrointestinal Drugs Market:

Mar-20: Sanofi has collaborated with video consultation business Babylon, to offer an online AI Health Service for those who suffer from digestive health issues.

Feb-20: Celltrion Healthcare (Celltrion) launched their infliximab biosimilar Remsima in Germany and the UK. Remsima SC is the only subcutaneous (SC) formulation of infliximab available.

May-20: AbbVie has acquired Allergen pharmaceuticals for US$ 63 billion. This acquisition is expected to expand and diversify the product portfolio for AbbVie in the constipation treatment market.

Gastrointestinal (GI) disorders are the medical conditions related to the digestive system that affect the colon, small and large intestine, and rectum. The disorders include constipation, irritable bowel, ulcerative colitis, and peptic ulcer diseases. These disorders are characterized by various symptoms such as pain, bloating, diarrhea, nausea, and vomiting. These disorders constitute a large proportion of outpatients and frequent hospital visits globally. A wide range of GI drugs is commercially available in the market for the treatment of various conditions.

The growth of the market is attributed to some key driving factors such as rise in prevalence of gastrointestinal (GI) diseases, rising investments in the development of biologics and the emergence of a biosimilar. However, low awareness associated with gastrointestinal disorders in low-income economies are expected to obstruct the growth of the market to a certain extent during the forecast years.

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Global Gastrointestinal Drugs Market Report Scope, Segmentations, Regional & Country Scope:

Browse key market insights spread across 209 pages with 111 list of tables & 79 list of figures from the report, "Gastrointestinal Drugs Market Forecast to 2027 - COVID-19 Impact and 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), and Geography" in detail along with the table of contents: https://www.theinsightpartners.com/reports/gastrointestinal-drugs-market

Western countries, such as the US, Canada, and the UK, are witnessing a high GI incidence rate due to increasing obesity in the adult population and less consumption of dietary fibers. As per the Centers for Disease Control and Prevention, in 2018, the number of visits to physician offices with the digestive system's diseases as the primary diagnosis was 22.4 million in the US. The incidence and prevalence of GI disorders are higher in the adult and elderly population. As the population ages, the disease burden is expected to increase. The GI disorders, such as inflammatory bowel diseases, Crohn’s disease, and ulcerative colitis, are common, chronic inflammatory conditions that affect a vast population worldwide. This is due to a sedentary lifestyle, changing dietary habits, stress, and other factors. The incidence and prevalence of IBS have increased in the last few decades worldwide. As per the International Foundation for Gastrointestinal Disorders, Inc., IBS is the most common functional GI disorder with a prevalence rate of 10–15% globally. Also, it is one of the most common conditions for a visit to a doctor. There are around 2.4–3.5 million physician visits for IBS annually in the US. The cost of direct medical expenses and indirect costs associated with loss of productivity and work absenteeism due to IBS is estimated to be around US$ 21 billion annually.

Moreover, in the last few years, the cases of IBD have increased worldwide. IBD is a chronic inflammation of the digestive tract and is of two types: Ulcerative colitis and Crohn's disease. As per the Crohn’s & Colitis Foundation of America, IBD affects approximately 1.6 million Americans. Around 70,000 new cases of IBD are diagnosed every year in the US. Apart from the US, Europe is also witnessing increasing burden of chronic digestive diseases due to the aging population and lifestyle factors such as rising obesity and heavy alcohol consumption. For instance, as per the EFCCA, around 3.4 million people in Europe are living with IBD. Thus, the factors mentioned above are driving the adoption of GI drugs during the forecast period.

National Health Interview Survey, Guts Charity organization, National Center for Biotechnology Information, ClinicalTrials.gov., European Federation of Crohn's & Ulcerative Colitis Associations, Centers for Disease Control and Prevention, International Foundation for Gastrointestinal Disorders, Crohn’s & Colitis Foundation of America, American College of Gastroenterology, American Academy of Family Physicians, National Institutes of Health, Celiac Disease Foundation, International Trade Administration, InterAmerican Heart Foundation (FIC), Colombian Association of Integral Medicine Companies (ACEMI), are some of the major primary and secondary sources referred to while preparing this report.

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