Global Digestive Drugs Market, by Type (Branded and Generic), by Drug Class (5-aminosalicylates, GI stimulants, Laxatives, Antacids, H2 Antagonists, Antidiarrheals, Others), by Route of Administration (Oral, Intravenous, Others), by Application (Gastroesophageal Reflux Disease (GERD), Irritable Bowel Syndrome, Ulcerative Colitis, Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 52,594.8 Mn in 2022 and is expected to exhibit a CAGR of 5.86% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
The increasing participation of key market players in promoting the awareness regarding their digestive drugs product portfolio can be further attributed to the market growth. For instance, in May 2022, AbbVie, a U.S.-based biopharmaceutical company, showcased their gastroenterology product portfolio and pipeline drug candidates in development against digestive disorders. The company presented data on efficacy of various drugs such as upadacitinib, risankizumab and linaclotide. Upadacitinib which is used to treat severely active Crohn's disease. In addition, the data on safety and efficacy on pipeline drugs such as Phase 3 drug candidate, risankizumab against severely active Crohn's disease and phase 2 investigational drug candidate linaclotide for treating functional constipation. Hence, such business development strategies adopted by key market players is likely to promote the growth of digestive drugs market over the forecast period.
Global Digestive Drugs Market– Impact of Coronavirus (COVID-19) Pandemic
The presence of reported COVID-19 cases with gastrointestinal (GI) tract symptoms is likely to have a positive impact on the adoption of digestive drugs. For instance, according to a study published in March 2022 in NCBI, numerous GI symptoms are reported in COVID-19 patients such as diarrhea, anorexia, nausea and abdominal pain etc. Hence, understanding the immunological importance of the gut-lung axis and intestinal microbiota along with its association in COVID-19 will likely to promote the adoption of various digestive drug medications such as probiotics preparation which may have beneficial effects in attenuating disease severity.
Browse 67 Market Data Tables and 85 Figures spread through 250 Pages and in-depth TOC on “Global Digestive Drugs Market, by Type (Branded and Generic), by Drug Class (5-aminosalicylates, GI stimulants, Laxatives, Antacids, H2 Antagonists, Antidiarrheals, Others), by Route of Administration (Oral, Intravenous, Others), by Application (Gastroesophageal Reflux Disease (GERD), Irritable Bowel Syndrome, Ulcerative Colitis, Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)”
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https://www.coherentmarketinsights.com/market-insight/digestive-drugs-market-5542
Increasing cases of digestive disorders such as irritable bowel syndrome (IBS) is likely to propel the market growth over the forecast period. For instance, according to 2020 published article in the International Foundation for Gastrointestinal Disorders, Inc. (IFFGD), IBS affects around 25 and 45 million people in the U.S. every year. Similarly, according to the U.S. Department of Health and Human Services, Gastroesophageal reflux (GER) affects around 20 percent of people in the U.S every year. Hence, the growing cases of gastrointestinal disorders is likely to drive the growth of digestive drugs market over the forecast period.
Key Takeaways of the Global Digestive Drugs Market:
- Among regions, Asia-Pacific is expected to exhibit highest CAGR in the global digestive drugs market over the forecast period, owing to increasing development of new drugs. For instance, in July 2020, Takeda India launched biologic drug Vedolizumab for the treatment of Ulcerative Colitis (UC), chronic inflammatory bowel diseases (IBD) and Crohn's Disease (CD).
- Major players operating in the global digestive drugs market include GlaxoSmithKline plc, AbbVie Inc. (Allergan), Takeda Pharmaceutical Company Limited, Pfizer Inc, AstraZeneca plc, Marksans Pharma, Tillotts Pharma AG, Salix Pharmaceuticals, Otsuka Pharmaceutical Co., Ltd., Merck & Co., Inc., Lexicon Pharmaceuticals, Inc., Bayer AG, Cadila Healthcare Ltd.
