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Gastrointestinal Drugs Global Market Report 2021: COVID 19 Implications and Growth to 2030

Gastrointestinal Drugs Global Market Report 2021: COVID 19 Implications and Growth to 2030

  • February 2021
  • 300 pages
  • ID: 6027759
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major companies in the gastrointestinal drugs market include Takeda Pharmaceticals; Allergan Plc; Novo Nordisk A/S; AstraZeneca Plc and Johnson & Johnson.

The global gastrointestinal drugs market is expected to grow from $46.68 billion in 2020 to $48.74 billion in 2021 at a compound annual growth rate (CAGR) of 4.4%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $62.19 billion in 2025 at a CAGR of 6%.

The gastrointestinal drugs market consists of sales of gastrointestinal drugs by entities (organizations, sole traders and partnerships) that produce gastrointestinal drugs to treat gastrointestinal diseases such as ulcerative colitis, diverticular disease, perianal infections, anal fissures, hemorrhoids, constipation, and irritable bowel syndrome.The key gastrointestinal diseases drug categories include Anti-peptic agents (antacids, antagonists, Proton Pump Inhibitors, Sucralfate, and Misoprostol), antiemetics, adsorbents, anticholinergics, opiates, intestinal flora modifiers, emollient/surfactants, hyperosmotic, saline, and simulant/irritant.

The gastrointestinal drugs market is segmented into antacids; antiulcerants; vitamin and minerals; antiobesity; antiemetics and antinauseants; and antidiarrhoeals.

North America was the largest region in the global gastrointestinal drugs market, accounting for 48% of the market in 2020.Asia Pacific was the second largest region accounting for 24% of the global gastrointestinal drugs market.

Africa was the smallest region in the global gastrointestinal drugs market.

Major companies in the gastrointestinal drug industry are investing in making oral capsules of macromolecular drugs for gastrointestinal diseases for making the drug more effective.Macromolecular drugs, such as peptides, proteins, and antibodies, form a new class of drugs which can treat diseases of the gastrointestinal tract, such as inflammatory bowel disease.

These macromolecular drugs are usually injected and only a fraction of the administered dose reaches the disease sites in the gastrointestinal tract.Thus, major companies such as Eli Lilly have been increasingly investing in making oral capsules for macromolecular drugs.

In December 2017, the company invested $5 million to enter into a collaboration with Entrega to study the oral delivery of complex molecules, such as peptides to combat gastrointestinal diseases.

During the historic period, the growth of the gastrointestinal drugs market was restrained by patent expiration of branded gastrointestinal drugs.In general, pharmaceutical companies invest a large sum of money in the drug development process and patents.

During the patency period, the company holding the patent holds exclusivity for the manufacturing and distribution of drugs.Post expiration of patency, generic versions of the drugs are manufactured by other companies with prices much lower than the original branded drugs.

Overall, this negatively impacts the growth of the market in terms of value.

The aging population profile of most countries contributed to the growth of the gastrointestinal drugs market.The increase in patient pool due to rising geriatric population globally, contributed significantly to the growth of the market during the historic period.

According to the Population Reference Bureau, the share of population over the age of 65 in the global population increased from 8% in 2015 to 9% in 2019.The global population aged 65 years or over was 703 million in 2019.

This rise in the geriatric population increased the demand for medical care and drove the healthcare expenditure. This has led to increased demand for pharmaceuticals products, significantly impacting market growth during this period.

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