Gastroenterology Market To Touch $79.01 Billion Valuation By 2028 | Top 4 players hold 67% market share

Skyquest Technology Consulting Pvt.  Ltd.

Skyquest Technology Consulting Pvt. Ltd.

The global gastroenterology market was valued at US$ 49.85 billion in 2021, and is expected to reach US$ 79.01 billion by 2028 at a CAGR of 6.80% over the forecast period 2022–2028.

WESTFORD, USA, September 19, 2022 (Globe Newswire) — In recent years, the demand for Gastroenterology Market has increased continuously. Some of the most commonly prescribed gastroenterology medications include antacids, oxytomodulin, omeprazole, lansoprazole, and famotidine. In 2006, there were 54 FDA filings for gastroenterology products; By 2021 this number had increased to 1268 filings. In total, 980 new products were developed for the treatment of GI disorders during this period. This increase in demand reflects the increasing prevalence of GI disorders in both adults and pediatric patients.

The most common uses for these drugs are the treatment of heartburn, dyspepsia and diarrhea in the global gastroenterology market. However, they can also be used to help relieve pain caused by various gastrointestinal conditions, including GERD (gastroesophageal reflux disease), ulcerative colitis, and Crohn’s disease. As of 2021, over 35% of the global population aged 65 will suffer from some form of gastrointestinal diseases and around 11% of people worldwide suffer from the disorder, which translates to over 811 million people.

One of the main reasons for the demand for gastroenterology drugs is the increasing number of people suffering from various digestive problems. The population 65 and older is expected to grow by more than 20% over the next decade, meaning there will be an even greater need for drugs that can help alleviate these conditions. Additionally, there is an increasing number of people who are diagnosed with chronic digestive diseases early in their lives, which means they are more likely to suffer from chronic conditions later in life.

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Skyquest published a report on the Global Gastroenterology Market. The report provides detailed insight into the factors driving this growth. In addition, the report provides an overview of the major players in this market with their products and services, recent developments and financial information. SkyQuest’s team of expert analysts have also identified the potential opportunities and challenges this market will face over the next seven years. This report is an essential resource for companies operating in the Gastroenterology market or looking to enter this fast growing industry or want to understand the scope and forecasting aspects of the market.

Major Market Dynamics in the Gastroenterology Market

  • Gastroenterology medicines are in high demand due to the growing population and increasing population. Various diseases can occur from the stomach and intestines, which can lead to many health problems. Gastroenterology medications can help treat these diseases.

  • Another reason for the demand for drugs in the global gastroenterology market is the increasing number of people who are overweight or obese. These people have a higher risk of developing gastrointestinal diseases such as Crohn’s disease and colorectal cancer. Treatment with gastroenterology medications can help improve their overall health and quality of life.

  • Another factor that contributes to the high demand for gastroenterology drugs is rising rates of obesity and chronic diseases such as diabetes. These diseases can lead to gastrointestinal problems, which in turn can increase the demand for gastroenterology drugs.

  • The increasing prevalence of Helicobacter pylori infection is driving high demand for the Gastroenterology market. Helicobacter pylori infection is a common cause of stomach ulcers. It is also associated with an increased risk of gastric cancer. Treatment with antibiotics can stop the growth of gastric cancer and improve symptoms of Helicobacter pylori infection.

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Gastroenterology Market Growth

  • In September 2022, the combined treatment of guselkumab and golimumab showed major results in patients suffering from ulcerative colitis at an event organized by the European Crohn’s and Colitis Organization.

  • In September 2022, Pharmac announced to fund Entyvio for new drug development for inflammatory bowel diseases from February 2023

  • In September 2022, AbbVie, a leading player in the global gastroenterology market, secured a positive CHMP opinion for Risankizumab (SKYRIZI®) for the treatment of adults with moderate to severe Crohn’s disease.

  • In September 2022, Palatine’s PL8177 entered mid-stage trials for ulcerative colitis

  • In September 2022, researchers from the University Hospitals Leuven in Belgium announced the results of a phase IIb trial and found that obefazimod showed promising results in patients with ulcerative colitis with relief symptoms.

  • In August 2022, researchers at Georgia State University found novel lipid nanoparticles highly effective in treating acute ulcerative colitis in mice.

  • In August 2022, the results of a clinical trial to show the effectiveness of ozanimod, a multiple sclerosis drug, were announced in patients with ulcerative colitis, with positive results.

  • In August 2022, Abivax, a French startup, raised approximately $49 million for a cross-Phase III trial for its ulcerative colitis drug.

Top 4 players dominate the Gastroenterology market with a market share of 67%

Some of the top products in the global gastroenterology market for the treatment of ulcerative colitis include Inflectra (UCBC), Taltz (teriflunomide), Remicade (infliximab), Humira (adalimumab), and Orimune (simvastatin). Market. At the same time, most of the drugs are manufactured and distributed by the top 4 players like Pfizer, Eli Lilly & Company, AbbVie and AstraZeneca.

Pfizer, a top player in the global gastroenterology market, has been producing gastroenterology drugs for ulcerative colitis and inflammatory bowel disease for more than 6 decades. The company has a long history of developing new treatments and remedies for these conditions, and is currently one of the leading manufacturers of gastroenterology drugs in the world. Pfizer currently makes two types of medications for ulcerative colitis.

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Infliximab and Humira are Pfizer’s best-selling products for the treatment of ulcerative colitis, with annual global sales exceeding $10 billion. The top medications manufactured by Pfizer for inflammatory bowel disease are omeprazole (Prilosec), Asacol (mesalamine), and mesalamine.

SkyQuest released its latest report on the global gastroenterology market. This report provides an in-depth analysis of the major players in this market and insights into their competitive landscape. This report will help clients to identify new opportunities in this market and make informed decisions about their investments.

Top Players in the Global Gastroenterology Market

  • Abbott Laboratories (USA)

  • AbbVie Inc. (America)

  • AstraZeneca Plc (UK)

  • Bosch Health Companies Inc. (Canada)

  • Boehringer Ingelheim International GmbH (Germany)

  • GlaxoSmithKline Plc (UK)

  • Johnson & Johnson (USA)

  • Merck & Company Inc. (USA)

  • Takeda Pharmaceutical Company Limited (Japan)

  • UCB SA (Belgium)

  • Bayer AG (Germany)

  • Pfizer Inc. (USA)

  • Cipla Inc (India)

  • Sebella Pharmaceuticals (US)

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