Biologics Segment to Grow at Faster CAGR During 2019–2027
According to our new research study on “Gastrointestinal Drugs Market Forecast To 2027 - Global Analysis by Drug Class, Route of Administration, Application, and Distribution Channel” the gastrointestinal drugs market size is expected to reach US$ 71,300.28 million by 2027 from US$ 49,043.38 million in 2019; it is estimated to grow at a CAGR of 4.9% from 2020 to 2027.
The report highlights trends prevailing in the market, and the factors driving and hindering the gastrointestinal drugs market growth. The growth of the global gastrointestinal drugs market is attributed to increasing prevalence of gastrointestinal (GI) diseases and increase in development of biologics. However, low awareness associated with gastrointestinal disorders in low-income economies is restricting the gastrointestinal drugs market growth.
Global Gastrointestinal Drugs Market, by Region, 2019 (%)
Gastrointestinal Drugs Market Forecast to 2027 - 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)
Gastrointestinal Drugs Market Insights & Size Outlook 2027
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Source: The Insight Partners Analysis
Based on drug class, the global gastrointestinal drugs market is segmented into acid neutralizers, antidiarrheal and laxatives, anti-inflammatory drugs, antiemetic and antinauseants, biologics, and others. The acid neutralizers segment held the largest market share in 2019, and the biologics segment is estimated to register the highest CAGR during the forecast period. With the increasing incidence of GERD (gastroesophageal reflux disease), the segment is expected to offer lucrative opportunities for the growth of orthopedic repair segment from 2020 to 2027. For instance, as per the American College of Gastroenterology, over 60 million Americans experience heartburn at least once a month and more than 15 million Americans experience heartburn symptoms each day. However, antacids can interfere with the function of other drugs. Some antacids, such as Alka-Seltzer, contain aspirin. The FDA have issued a safety alert in this regard in June 2016. This alert was issued because of reports of serious bleeding related to aspirin-containing antacids. Therefore, the growth of the gastrointestinal drug market is primarily driven by above mentioned factors.
Sanofi, GlaxoSmithKline plc, Johnson and Johnson Services, Inc., Bausch Health, AstraZeneca, Takeda Pharmaceutical Company Limited, AbbVie Inc., Bayer AG, Celltrion Healthcare Co.,Ltd., and LEXICON PHARMACEUTICALS, INC, among others are the leading companies operating in the global gastrointestinal drugs market.
The report segments the gastrointestinal drugs market as follows:
Based on the route of administration, the gastrointestinal drugs market is segmented into oral, and parenteral. Based on application, the gastrointestinal drugs market is segmented inflammatory ulcerative colitis, Crohn's disease, irritable bowel syndrome, gastroenteritis, celiac disease, and others. Based on distribution channel, the gastrointestinal drugs market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Based on geography, the gastrointestinal drugs market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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