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Gastrointestinal Therapeutics Market Size
Gastrointestinal Therapeutics Market size is expected to register notable growth between 2024 and 2032, owing to the increasing demand for new therapies for a variety of complex gastrointestinal issues. These include diarrheal disorders, motility disorders, IBD, constipation, iatrogenic diseases like visceral pain, GERD, and other esophageal diseases. As per NIH, in 2021, a multinational study conducted by the American Gastroenterological Association on 73,076 respondents, over 40% of people worldwide had Functional Gastrointestinal disorders (FGIDs), which significantly affected their healthcare usage and quality of life.
The high prevalence rate associated with these diseases has encouraged pharmaceutical manufacturers globally to undertake R&D initiatives and introduce novel therapies, including targeted drugs and biologics, to aid the rising disease burden. Besides, the escalating drug development projects and subsequent regulatory approvals will contribute positive outcomes for theindustry.
Gastrointestinal Therapeutics Market Trends
The ongoing Russia-Ukraine disturbances and heightening inflation across major economies may limit R&D expenditure, thus, resulting in sluggish industry revenue. Additionally, the declining economic expansion may reduce people’s healthcare spending, further impeding market performance over the forthcoming years.
Gastrointestinal Therapeutics Market Analysis
The genetic segment is estimated to account for a lucrative industry share by 2032, mainly attributed to an increase in the approval of generic drugs for the treatment of GI disorders across various regions.
In May 2023, Ironwood Pharmaceuticals, Inc., and VectivBio Holding AG, a clinical-stage biopharmaceutical company introducing novel, transformational therapies for severe rare GI conditions, entered into a definitive agreement for Ironwood to acquire latter company for $17.00.
As per application, the gastrointestinal therapeutics market is expected to register gains from the ulcerative colitis segment up to 2032, driven by the rising prevalence of chronic idiopathic inflammatory disorder of the gastrointestinal tract. According to recent data, the prevalence of gastrointestinal diseases is increasing in numerous parts of the world owing to improved access to health, altered lifestyles, and higher rates of industrialization and sanitation. Presently, several institutes are exploring innovative and promising therapeutic approaches, which are expected to propel segment development in the coming years.
North America gastrointestinal therapeutics market is set to depict remarkable gains by 2032, attributed to the flourishing research landscape and the prominence of several pharmaceutical and drug manufacturers in the region. Additionally, the notable rise in healthcare investments and the frequent rollouts of supportive government programs and initiatives will further stimulate regional industry gains. In November 2022, CDC awarded $3.2 billion to assist state, local, and territorial jurisdictions across the United States to enhance their public health workforce and infrastructure.
Gastrointestinal Therapeutics Market Share
Notable players in the gastrointestinal therapeutics industry include:
- Janssen Pharmaceuticals
- Valeant Pharmaceuticals
- Takeda Pharmaceuticals
- GlaxoSmithKline plc
- AstraZeneca
- Allergan plc
- Bayer AG
- Abbott Laboratories
- AbbVie Inc.
- Pfizer
Gastrointestinal Therapeutics Industry News
- In September 2022, Takeda announced the national launch of the CDPATHTM program today, which included an innovative, validated personalized prognostic tool utilizing blood tests to assist in predicting the potential risk of developing serious complications related to Crohn’s disease within three years.