Gastrointestinal Therapeutics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Gastrointestinal Therapeutics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Gastrointestinal Therapeutics Market size is estimated at USD 0.08 billion in 2024, and is expected to reach USD 0.1 billion by 2029, growing at a CAGR of 3.80% during the forecast period (2024-2029).

Factors such as the increasing prevalence of gastrointestinal diseases and the rising investments in research and development by pharmaceutical companies are expected to boost the market growth.

The increasing burden of gastrointestinal diseases among the population raises the demand for effective drugs, which is expected to fuel market growth. For instance, as per the 2023 statistics published by the American Cancer Society, 2023, approximately 153,020 individuals were diagnosed with colorectal cancer (CRC) including 19,550 individuals younger than 50 years. Also, the 2023 update by Bower Cancer United Kingdom shows that bowel cancer is the fourth most common cancer, and approximately 47,700 people are diagnosed with bowel cancer every year in the United Kingdom. Additionally, as per an article published in NLM in July 2022, it was observed that GERD, the most prevalent gastrointestinal condition, affects 20% of individuals in Western culture. In addition, as per the same source, an estimated prevalence of GERD in the United States ranges between 18.1% and 27.8%, and the prevalence of GERD is higher among men than women. Thus, the high burden of GI tract diseases such as cancer and GERD is expected to increase demand for effective therapeutics approaches, thereby boosting the market growth.

Furthermore, the rising company's investment in research and development of gastro-related drugs and rising drug launches that increase the availability of the drugs in the market are also expected to fuel the market growth. For instance, in April 2022, Microbiotica received project funding from the Crohn's & Colitis Foundation, as part of their IBD Ventures program, for the development of therapies, Microbiotica's Live Bacterial Therapeutic (LBT) MB310 to treat ulcerative colitis or inflammatory bowel disease (IBD). The funding is utilized to advance MB310's development through cGMP production to support an investigational new drug (IND) application, which allows entry into a first-in-human clinical study.

Similarly, in November 2023, PanKind announced the recipients of over USD 1.8 million of grant funding to progress pancreatic cancer research in the key areas of Early Detection and New Treatments. Moreover, the rising company activities in developing novel drugs and increasing product launches are also contributing to the market growth. For instance, in April 2022, Ardelyx, Inc. launched IBSRELA, an NHE3 inhibitor for treating irritable bowel syndrome with constipation (IBS-C) in adults.

Therefore, owing to the factors above, such as the rising prevalence of GI disorders and the increasing R&D activities for the development of gastrointestinal disease treatment is likely to boost the growth of the gastrointestinal therapeutics market over the forecast period. However, stringent regulatory norms regarding drug approvals and an increasing number of patent expiries are expected to impede the market growth over the forecast period.

Gastrointestinal Therapeutics Market Trends

Ulcerative Colitis Segment is Expected to Witness Significant Growth Over the Forecast Period

Ulcerative colitis is a chronic inflammatory bowel disease (IBD) that causes inflammation and ulcers on the inner lining of the large intestine due to abnormal immune system reactions. Some drugs used to treat ulcerative colitis are Infliximab, Humira, Simponi, Entyvio, Stelara, Colazal, Dipentum, Azulfidine, and others. The expected growth in the ulcerative colitis segment can be attributed to various factors such as advances in research and development, along with the introduction of innovative treatments and therapies. Additionally, increased awareness, improved diagnostic techniques, and a rising prevalence of gastrointestinal disorders may drive the demand for effective therapies in this specific segment.

The growing burden of ulcerative colitis across the world is expected to create the demand for effective treatment, thereby boosting the segment growth. For instance, according to an article published in the National Library of Medicine in August 2023, Ulcerative colitis is a lifelong inflammatory disease affecting the rectum and colon to a variable extent. In 2023, the prevalence of ulcerative colitis was estimated to be 5 million cases around the world, and the incidence is increasing worldwide. Thus, the rising new and emerging treatments are expected to increase the availability of effective and safe drugs in the market, boosting segment growth.

Furthermore, the increasing drug approval and launches by regulatory bodies are expected to increase the availability of novel therapeutics for treating ulcerative colitis patients. It is anticipated to fuel the market growth over the forecast period. For instance, in December 2022, the United States FDA accepted Pfizer's New Drug Application (NDA) for etrasimod, an oral, once daily, selective sphingosine-1-phosphate (S1P) receptor modulator. It is designed for optimized pharmacology and S1P receptors 1, 4, and 5 engagements for individuals with moderately-to-severely active ulcerative colitis (UC).

Therefore, owing to the factors above, such as the growing burden of ulcerative colitis and product launches the studied segment is expected to grow over the forecast period.

North America is Expected to Hold a Significant Market Share Over the Forecast Period

North America is expected to hold a significant market share over the forecast period owing to factors such as the increasing burden of gastrointestinal diseases, rising product launches, and growing company initiatives.

The increasing burden of gastrointestinal diseases such as stomach cancer, colon cancer, GERD, ulcerative colitis, and others among the population is the key factor driving the market growth. For instance, as per an article published in NLM in July 2022, GERD was one of the most widespread gastrointestinal conditions, affecting 20% of adults in Western countries such as the United States. In addition, the estimated prevalence of GERD in the United States population ranges from 18.1% to 27.8%. Additionally, according to the Canadian Cancer Society (CCS) data reviewed in May 2022, colorectal cancer was expected to be Canada's fourth most commonly diagnosed cancer in 2022. Also, nearly 24,300 Canadians were diagnosed with colorectal cancer, representing 10% of all new cancer cases in Canada in 2022.

Furthermore, the rising government funding for gastrointestinal diseases research and development is expected to increase the company's focus on developing novel treatment drugs, propelling market growth. For instance, according to the data published by NIH, in May 2022, the government funded an estimated USD 352 million for the research and development of colorectal cancer disease in the United States in 2022, compared to USD 335 million in 2021. In addition, as per the same source, an estimated USD 92 million was funded by the government for research and development of Crohn's disease in 2022 as compared to USD 88 million in 2021.

Moreover, the rising drug launches and approvals in the region and an increasing company focus on adopting key strategies such as collaboration, partnerships, and others are also contributing to the market growth. For instance, in March 2022, AbbVie Inc. received United States FDA approval for its RINVOQ (upadacitinib) prescription medicine for treating adults' severe to moderate ulcerative colitis. Also, in October 2022, Phathom Pharmaceuticals signed a deal with Evonik to manufacture its recently FDA-approved gastrointestinal drug, vonoprazan. Similarly, in May 2021, BMS received United States FDA approval for Zeposia, a sphingosine 1-phosphate (S1P) receptor modulator, to treat moderate to severe ulcerative colitis.

Therefore, owing to the factors above, the studied segment is expected to grow over the forecast period.

Gastrointestinal Therapeutics Industry Overview

The gastrointestinal therapeutics market is moderately competitive with the presence of many market players. The companies are adopting key strategies such as new product development, collaborations, partnerships, and others to retain their market position. Some market players include Abbott Laboratories, Abbvie Inc., Cipla Inc., Bayer AG, GlaxoSmithKline PLC, Johnson & Johnson (Janssen Pharmaceuticals Inc.), Abbvie Inc, and Takeda Pharmaceutical Company Limited.

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