Westford, USA, Sept. 19, 2022 (GLOBE NEWSWIRE) -- In recent years, the demand for gastroenterology market has steadily increased. Some of the most commonly prescribed gastroenterology drugs include antacids, oxyntomodulin, omeprazole lansoprazole, and famotidine. In 2006, there were 54 FDA filings for gastroenterology products; by 2021 that number had grown to 1268 filings. In total, 980 new products were developed for the treatment of GI disorders during this time period. This increase in demand likely reflects the increased prevalence of GI disorders among both adults and pediatric patients.
The most common uses for these drugs are treatment of heartburn, indigestion, 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, more than 35% of the global population of 65 years suffers from some kind of gastrointestinal diseases and around 11% of people across the globe are having the disorders, 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 issues. The population aged 65 and older is expected to grow by more than 20% over the next decade, which means that there will be an even greater need for medications that can help ease these conditions. Additionally, there is a growing number of people who are diagnosed with chronic digestive diseases early in their lives, which means that they are more likely to suffer from chronic conditions later on in life.
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SkyQuest published a report on global gastroenterology market. The report provides detailed insights into the factors driving this growth. In addition, the report profiles the key players in this market, providing an overview of their products and services, recent developments, and financial information. SkyQuest's team of expert analysts have also identified the potential opportunities and challenges facing this market over the next seven years. This report is an essential resource for companies operating in the gastroenterology market or looking to enter this rapidly growing industry or want to understand the market scope and forecast aspects.
Key Market Dynamics in Gastroenterology Market
- Gastroenterology drugs are in high demand due to the growing population and aging population. There are many diseases that can be caused by the stomach and intestine, which can lead to various health problems. Gastroenterology drugs can help to treat these diseases.
- Another reason for demand for drugs in global gastroenterology market is the increasing number of people who are overweight or obese. These people are at a higher risk for developing gastrointestinal diseases like Crohn’s disease and colorectal cancer. Treatment with gastroenterology drugs can help improve their overall health and quality of life.
- Another factor that contributes to high demand for gastroenterology drugs is the increasing rates of obesity and chronic diseases such as diabetes. These diseases can lead to gastrointestinal problems, which in turn can increase demand for gastroenterology drugs.
- High demand for gastroenterology market is coming from the increasing prevalence of Helicobacter pylori infection. Helicobacter pylori infection is a common cause of stomach ulcers. It is also associated with an increased risk of gastric cancer. Treatment with antibiotics may prevent development of gastric cancer and improve symptoms of Helicobacter pylori infection.
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Gastroenterology Market Developments
- In September 2022, combined treatment of Guselkumab and Golimumab Shows prominent results in patients suffering from ulcerative colitis in an event organized by European Crohn’s and Colitis Organization
- In September 2022, Pharmac announced to fund Entyvio for the development of new drug for inflammatory bowel diseases from February 2023
- In September 2022, AbbVie, a leading player in global gastroenterology marke, Secures Positive CHMP Opinion for Risankizumab (SKYRIZI®) for the treatment of adults with moderate to severe Crohn's disease
- In September 2022, Palatin’s PL8177 entered into mid-stage trials for ulcerative colitis
- In September 2022, researchers at University Hospitals Leuven in Belgium announced the result of phase IIb trial and found that obefazimod showed promising result in patients having ulcerative colitis with relieved symptoms
- In August 2022, researchers at Georgia State University found that novel lipid nanoparticles is extremely effective in treating acute ulcerative colitis in mice
- In August 2022, a clinical trial resulted announced to show effectiveness of ozanimod, a multiple sclerosis drug, given positive results in patients suffering from ulcerative colitis
- In August 2022, Abivax, a French startup, raised around $49 million for cross phase III trial for their ulcerative colitis drug
Top 4 Players are Dominating Gastroenterology Market with Market Share of 67%
Some of the top products in the global gastroenterology market for treatment of ulcerative colitis include Inflectra (ucbc), Taltz (teriflunomide), Remicade (infliximab), Humira (adalimumab), and Orimune (simvastatin) are some of the key drugs in the global market. Wherein, most of the drugs are manufactured and distributed by top 4 players such as Pfizer, Eli Lily and 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 novel treatments and therapies for these conditions, and is currently one of the leading manufacturers of gastroenterology drugs in the world. Pfizer currently manufactures two types of medications for ulcerative colitis.
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Infliximab and Humira are Pfizer's top selling product for the treatment of ulcerative colitis, with annual global sales of over $10 billion. The top medications that Pfizer manufactures 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 key players in this market and offers insights into their competitive landscape. This report will help clients identify new opportunities in this market and make informed decisions about their investments.
Top Players in Global Gastroenterology Market
- Abbott Laboratories (US)
- AbbVie Inc. (US)
- AstraZeneca Plc (UK)
- Bausch Health Companies Inc. (Canada)
- Boehringer Ingelheim International GmbH (Germany)
- GlaxoSmithKline Plc (UK)
- Johnson & Johnson (US)
- Merck & Co. Inc. (US)
- Takeda Pharmaceutical Co. Ltd. (Japan)
- UCB SA (Belgium)
- Bayer AG (Germany)
- Pfizer Inc. (US)
- Cipla Inc. (India)
- Sebela Pharmaceuticals (US)
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