Anticipated Growth in Revenue:
The Gastrointestinal Therapeutics Market size is expected to reach USD 78.58 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.59% during the forecast period.
Gastrointestinal Therapeutics Market Overview
The market for Gastrointestinal Therapeutics is experiencing significant growth, driven by the increasing adoption of biologics in the treatment of gastrointestinal diseases. These biologics, including tofacitinib and vedolizumab, alongside drugs like Humira, Amjevita, Cimzia, Remicade, and Entyvio, have demonstrated superior long-term efficacy. Studies indicate that biologics significantly reduce the need for surgeries, hospitalizations, and prolonged hospital stays.
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Report Scope
The report offers a detailed analysis of the Global Gastrointestinal Therapeutics Industry, focusing on key stakeholders and industry trends. It provides an in-depth study of major players, including market leaders, followers, and new entrants. The report evaluates microeconomic factors using Porter's Five Forces model, alongside SWOT and PESTLE analyses, offering decision-makers a comprehensive understanding of both internal and external factors influencing the market.
Research Methodology
The research methodology employed in this report includes a combination of primary and secondary research. Primary research involved interviews with industry experts, surveys, and observations of the market trends. Secondary research comprised the analysis of industry reports, company publications, and relevant data from reputable databases. This mixed-method approach ensures a thorough and accurate analysis of market dynamics.
Drivers
Several factors are driving the growth of the Gastrointestinal Therapeutics Market:
- Increasing Adoption of Biologics: Biologics offer effective long-term treatment solutions, reducing the need for surgeries and hospital stays.
- Technological Advancements: Continuous improvements in drug development and delivery methods enhance treatment efficacy.
- R&D Investments: Increased investments in research and development for new biologics and targeted therapies.
- Government Initiatives: Supportive policies and initiatives, such as the Integrated Global Action Plan for Diarrhoea, bolster market growth.
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Segmentation
The Gastrointestinal Therapeutics Market can be segmented based on technology, application, and region.
by Type
Branded
Generics
by Route of Administration
Oral
Intravenous
Others
by Application
Ulcerative Colitis
Crohn’s Disease
GERD
Others
by Distribution Channel
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Regional Insights
The North America market held the largest share in 2023 and is expected to maintain its dominance, primarily due to lifestyle changes leading to higher disease prevalence and significant government initiatives. Recent drug approvals, such as AbbVie Inc.'s RINVOQ for ulcerative colitis and Bristol-Myers Squibb's Zeposia for active UC, are likely to drive adoption rates further. However, the market's growth in this region might be tempered by the high costs associated with biological drugs and the impact of patent expirations. The introduction of biosimilars is also expected to influence market dynamics significantly.
Market Key Players:
1. Abbott Laboratories - Abbott Park, Illinois, United States
2. AstraZeneca - Cambridge, England
3. Bayer AG - Leverkusen, Germany
4. Janssen Pharmaceuticals (a subsidiary of Johnson & Johnson) - Beerse, Belgium
5. Takeda Pharmaceuticals - Tokyo, Japan
6. Pfizer - New York City, New York, United States
7. AbbVie Inc. - North Chicago, Illinois, United States
8. Valeant (Salix Pharmaceuticals) - Bridgewater, New Jersey, United States
9. Takeda Pharmaceutical Company Limited - Tokyo, Japan
10. Eisai Co. Ltd. - Tokyo, Japan
11. Johnson & Johnson Private Limited - Mumbai, India
12. Astellas Pharma Inc. - Tokyo, Japan
13. Sanofi S.A. - Paris, France
14. Bausch Health Companies Inc - Laval, Quebec, Canada
15. Cipla - Mumbai, India
16. Pfizer Inc. - New York City, New York, United States
17. Bayer AG - Leverkusen, Germany
18. Biogen - Cambridge, Massachusetts, United States
19. Azurity Pharmaceuticals, Inc. - Wilmington, Massachusetts, United States
20. Iterative Health - Boston, Massachusetts, United States
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Key questions answered in the Gastrointestinal Therapeutics Market report include:
- What is the current market size and forecasted growth of the Gastrointestinal Therapeutics Market?
- What are the primary drivers influencing the growth of the Gastrointestinal Therapeutics Market?
- What challenges and restraints are impacting the Gastrointestinal Therapeutics Market?
- How is the market segmented, and which segments are expected to show the highest growth?
- What are the key regional insights and which regions are leading the market?
- Who are the major players in the Gastrointestinal Therapeutics Market, and what are their strategies?
- What recent developments have taken place in the Gastrointestinal Therapeutics Market?
- What are the future prospects and trends in the Gastrointestinal Therapeutics Market?
- How has the COVID-19 pandemic impacted the Gastrointestinal Therapeutics Market?
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