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Asia Pacific Gastrointestinal Drugs Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Drug Class ; Route of Administration ; Application ; and Distribution Channel, and Country

Asia Pacific Gastrointestinal Drugs Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Drug Class ; Route of Administration ; Application ; and Distribution Channel, and Country

  • November 2020
  • 147 pages
  • ID: 5999648
  • Format: PDF
  • The Insight Partners
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The Asia Pacific gastrointestinal drugs market is expected to reach US$ 13,618.35 million by 2027 from US$ 8,868.44 million in 2019; it is expected to grow at a CAGR of 5.6% from 2020 to 2027. Rising prevalence of gastrointestinal (GI) diseases and increase in development of biologics are expected to boost the growth of the market. However, factors such as low awareness associated with gastrointestinal disorders in low-income economies are likely to restrain the growth of the market. Additionally, increasing investment in research activities coupled with growing pipeline of GI candidates and emergence of biosimilars are likely to fuel the growth of the gastrointestinal drugs market during the forecast period.
Gastrointestinal disorders are 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.

A wide range of GI drugs is commercially available in the market for the treatment of various conditions. Additionally, rising investments in the development of biologics and emergence of biosimilars are expected to drive the market during the forecast period.
Biosimilars are similar to the reference product in terms of safety, purity, and potency.They are widely being developed to treat a variety of diseases, such as cancer, chronic kidney disease, GI disorders, diabetes, cystic fibrosis, and autoimmune disorders.

The biosimilars market is rapidly evolving due to increasing demand for cost-effective therapeutics.With the patent expiration of many blockbuster drugs, the biosimilars market is expected to grow at a significant rate in the near future.

They can stimulate market competition and have the potential to expand patient access.Many biologics are expected to come off patent soon, which is offering drug manufacturers an opportunity to develop biosimilars and to bring new options along with existing biologics.

As the market for biologics and biosimilars grows, the availability of new therapeutics is expected to benefit patients by increasing treatment options and improving access to important medicines at lower costs.
Recent approvals for biosimilars developed by South Korean companies include the approval of adalimumab biosimilar Hadlima (SB5) and trastuzumab biosimilar Samfenet (SB3) from Samsung Bioepis in September and November 2017, respectively.In March 2018, South Korea-based GC Pharma (formerly Green Cross) received approval for its insulin glargine biosimilar Glarzia.

Then, in the same month, LG Chem (part of LG Life Sciences) also received approval for its etanercept biosimilar, Eucept.
Despite regulatory hurdles for the biosimilar market, it is still projected to grow at a rapid rate due to the need for cheaper alternatives to biologics. High costs associated with the manufacturing of biologic medicines have made biosimilar an attractive option for drug manufacturers, providing a platform for further growth.
Countries in Asia Pacific are facing challenges due to increasing incidence of COVID-19.The outbreak has severely affected the tourism industry and imposed supply chain disruptions; moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure.

Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent disease transmission.All these factors would impact gastrointestinal drug market for short period of time due to restrictions on supply chain as well as limited manufacturing capabilities.

However, in long run, the market has strong potential, as Asia Pacific is most populated region in the world and one of the strong consumers of over-the-counter generic medications, including gastrointestinal disorder drug products.
In 2019, the acid neutralizers segment accounted for the highest share of the market.However, the biologics segment is expected to be the fastest-growing segment during the forecast period.

The segment is anticipated to grow at the highest CAGR during the forecast period. The growth of the segment is attributed to growing product development and increasing product launches in the market.
A few of the major secondary sources associated with the Asia Pacific gastrointestinal drugs market report are World Health Organization, Korea Tourism Organization, and International Foundation for Gastrointestinal Disorders.

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