Press release
Gastrointestinal Drugs Market Grows with Extensive Demand for Acid Neutralizers among Patients
The global market for gastrointestinal drugs was valued at US$45.5 bn in 2015. Expanding at 4.90% CAGR between the period 2016 and 2024, the global market is estimated to reach a valuation of US$61.1 bn by the end of 2024.
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Acid Neutralizers Expected to Gain Widespread Popularity in Forthcoming Years
Based on geography, the major regional markets for gastrointestinal drugs are Europe, North America, Asia Pacific, the Middle East & Africa (MEA), and Latin America. Of these, North America dominated the global market with an estimated share of 41.0% in 2016. The substantial growth in the market is attributed to the presence of a favorable reimbursement structure regarding the treatment of chronic gastrointestinal diseases. In addition, a rising geriatric population vulnerable to chronic gastrointestinal disorders is expected to boost the regional market.
The major classes of gastrointestinal drugs are acid neutralizers, antidiarrheal and laxatives, antiemetic and antinauseants, anti-inflammatory drugs, and biologics. Among these drug classes, acid neutralizers are poised to witness substantial demand from patients worldwide. The market for the drug class is expected to witness impressive growth in the coming years due to the increasing prevalence of gastroesophageal reflux disease (GERD) across the globe. The medications for GERDs usually contain antacid as one of the components. Antacids are increasingly preferred as cost-effective medications to reduce gastric irritation.
Rising Prevalence of Gastrointestinal Diseases to Bolster Uptake
The global market for gastrointestinal drugs is mainly driven by the rising prevalence of gastrointestinal diseases across demographics. Coupled with this, the increasing level of awareness related to the availability of cost-effective medications and treatments has spurred the demand for gastrointestinal drugs. In addition, soaring investment in R&D activities related to treatment of various gastrointestinal disorders is expected to propel the market over the forecast period.
However, the growing prevalence of irritable bowel syndrome (IBS) and inflammatory bowel disease (IBD) in various regions, particularly Asia Pacific, has posed a clinical challenge in finding permanent treatments. These gastrointestinal disorders are characterized by unknown etiology and disease mechanisms, which makes the treatment with drugs difficult. This is expected to hinder the growth of the market to an extent. Nevertheless, continual technological advancements in treatment therapies are anticipated to open up promising opportunities for market players, positively impacting the market.
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The study presented here is based on a report by Transparency Market Research (TMR) titled “Gastrointestinal Drugs Market (Drug Class - Acid Neutralizers (Antacids, H2 Antagonists, and Proton Pump Inhibitors), Antidiarrheal and Laxatives, Antiemetic and Antinauseants, Anti-inflammatory Drugs, Biologics, and Antispasmodic; Route of Administration - Oral, Parenteral and Rectal; Disorder Type - Gastro-esophageal Reflux Disease, Inflammatory Bowel Disease, and Irritable Bowel Syndrome; Distribution Channel - Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024”.
The global gastrointestinal drugs market is segmented as follows:
Drug Class
Acid Neutralizers
Antacids
H2 antagonists
Proton pump inhibitors
Antidiarrheal and Laxatives
Antiemetic and Antinauseants
Anti-inflammatory drugs
Biologics
Antispasmodic
Route of Administration
Oral
Parenteral
Rectal
Disorder Type
Gastro Esophageal Reflux Disease
Inflammatory Bowel Disease
Irritable Bowel Syndrome
Distribution Channel
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Spain
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Southern Global
The Middle East & Africa
GCC countries
South Africa
Rest of The Middle East & Africa
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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