Gastrointestinal Drugs Market Size to Reach $106.30 Billion By 2031 | CAGR 7.5%: The Insight Partners

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Overview of Report Findings

Market Growth:

1.  Market Growth: The gastrointestinal drugs market is expected to reach US$ 59.71 billion by 2023 from US$ 106.30 billion in 2031; it is anticipated to register a CAGR of 7.5% during the forecast period. Gastrointestinal drugs are medications specifically designed to treat disorders and conditions affecting the digestive system, which includes the esophagus, stomach, intestines, and related organs. These drugs can help manage symptoms, alleviate pain, and treat underlying diseases.

2.  Rising Cases of Gastrointestinal Diseases: Common digestive problems include heartburn, inflammatory bowel diseases (IBD), inflammatory bowel syndrome (IBS), gastroenteritis, gastroesophageal reflux disease (GERD), constipation, and diarrhea. Gastrointestinal diseases are common chronic inflammatory conditions that affect an enormous population worldwide. This is due to a sedentary lifestyle, changing dietary habits, and stress, among other factors. Also, the incidence of gastrointestinal diseases is higher in adults, and as the population ages, the disease burden is also expected to increase.

According to the study, "Gastroesophageal Reflux Disease," published in July 2023, GERD is one of the most prevalent diagnosed gastrointestinal conditions, affecting 20% of the people in the US, resulting in major economic burden in direct and indirect costs and adversely impacting the quality of life. Per the same source, the expected prevalence of GERD in the US ranges between 18.1% and 27.8%. Western countries such as the US, Canada, and the UK are witnessing a high gastrointestinal disease incidence rate due to growing obesity among the adult population, along with less consumption of dietary fiber. As per the study, "How Particle's Specialty Search Addresses Different Health Conditions," published in February 2023, digestive diseases rank third among illnesses in overall economic expense in the US, costing an estimated total of US$ 136 billion in annual healthcare expenditures with more hospitalizations than any other condition. In addition, 62 million Americans are diagnosed with digestive disorders each year.

3.  Strategic Initiatives by Companies: Companies operating in the gastrointestinal drugs market constantly focus on strategic developments such as product approvals, collaborations, funding, agreements, and new product launches, which help them improve their sales, increase their geographic reach, and improve their capacities to cater to a broader customer base. A few strategic initiatives taken by key players operating in the gastrointestinal drugs market are mentioned below:

4.  Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and APAC. Asia Pacific is expected to register the highest CAGR during the forecast period.

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Market Segmentation

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Competitive Strategy and Development

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Conclusion

The surging prevalence of gastrointestinal disorders creates the demand for gastrointestinal drugs, which is followed by the increasing development of biologics for the treatment of gastrointestinal disorders. The market players are vigorously involved in constantly developing innovative products and biologics focused on gastrointestinal disorders. Additionally, there is an increasing inclination toward innovative therapies such as personalized medicine, regenerative medicine, and microbiome for the treatment of IBD and other gastrointestinal disorders. Moreover, an increase in research funding for the development of novel drugs and increased use of artificial intelligence-based techniques for the diagnosis of gastrointestinal disorders is expected to amplify the market growth. AI-powered image analysis has the potential to transform the field of diagnostic imaging into gastrointestinal medicine. Researchers can examine medical images, such as CT scans or endoscopic images, to detect and classify abnormalities with high accuracy by using deep learning algorithms, which is likely to bring new trends to the gastrointestinal drugs market in the coming years.

The report from The Insight Partners, therefore, provides several stakeholders—including drug manufacturers, contract research and manufacturing organizations, and healthcare providers—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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