Gastroenterology Market Size, Share & Analysis Report, 2023-2032
The global gastroenterology market size was exhibited at USD 51.45 billion in 2022 and is projected to hit around USD 94.07 billion by 2032, growing at a CAGR of 6.22% during the forecast period 2023 to 2032.
Key Pointers:
Gastroenterology Market Report Scope
| Report Coverage | Details |
| Market Size in 2023 | USD 54.65 Billion |
| Market Size by 2032 | USD 94.07 Billion |
| Growth Rate From 2023 to 2032 | CAGR of 6.22% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | By Type, By Distribution Channel, By Application and By Route of Administration |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regional Scope | North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
| Key Companies Profiled | Abbott Laboratories, Johnson & Johnson, AbbVie Inc., Salix Pharmaceuticals, GlaxoSmithKline Plc., ALLERGAN, Takeda Pharmaceutical Company Limited, AstraZeneca, Astellas Pharma US, Inc., Pfizer Inc. and Others |
The market for gastroenterology is expanding primarily due to the rising prevalence of gastrointestinal diseases. Other significant reasons driving the growth of the gastroenterology market are the rising incidence of gastrointestinal disorders brought on by poor dietary practices, the expansion of clinical studies with reliable findings, rising healthcare costs, and the rise in the elderly population.
There is a large variety of new generation treatments that are available, including cellular therapy and inventive small compounds. Hospitalizations and surgical procedures for GI disorders are on the rise, and biopharmaceutical companies are investing more in R&D to create biologics and biosimilars. According to the National Clinical Trials (NCT) registry, there were around 6,443 ongoing clinical trials for gastrointestinal illnesses at various stages of development as of May 2021. Over the projection period, new chances for efficient medicines may be created by the successful findings of these investigations.
Global Gastroenterology Market Dynamics
Drivers
Rising incidence of gastrointestinal diseases: Globally, the prevalence of gastrointestinal conditions such gallstones, ulcerative colitis, fissure, hemorrhoids, irritable bowel syndrome (IBS), and gastroesophageal reflux disease (GERD) has dramatically grown. The main causes of the rising prevalence of chronic and acute gastrointestinal illnesses are poor diet, a sedentary lifestyle, stress, food sensitivity, and bacterial or viral infections. Numerous drugs, such as antacids, histamine H2-receptor antagonists, laxatives, proton pump inhibitors, and antibiotics, are increasingly in demand to treat various gastrointestinal disorders and prevent subsequent medical consequences related to the diseases. This is driving up the demand for different classes or types of pharmaceuticals to treat gastrointestinal ailments, which is driving up the growth of the global market for therapeutics for gastrointestinal diseases.
Restraints
During the forecast period, the market for gastroenterology is projected to face significant obstacles due to the high cost of treatments. Different gastrointestinal illnesses are treated with biologics and small compounds. Chronic IBS include conditions like Crohn's disease and ulcerative colitis, which need ongoing care to reduce the risk of recurrence and cancer development. The cost of medications, doctor visits, and hospital stays make up the majority of the total cost of therapy for gastrointestinal illnesses. Numerous chronic gastrointestinal illnesses are treated with the intravenous administration of biologic medications like infliximab and vedolizumab. Infliximab (Remicade, Johnson & Johnson) often costs between $6,000 and $6,500, while vedolizumab (Entyvio, Takeda Pharmaceutical) typically costs between $8,500 and $8,700 per prescription. Biologics used to treat IBD often cost between $2,500 and $5,500 per month on average. The expansion of the global market for gastroenterology is predicted to be somewhat constrained by rising out-of-pocket costs related to medications and procedures for gastrointestinal diseases.
Some of the prominent players in the Gastroenterology Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Gastroenterology market.
By Type
By Distribution Channel
By Application
By Route of Administration
By Region
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers