Gastrointestinal Therapeutics Market Size, Share, Growth, Trends and Industry Analysis Reportby Susan Hill Business Consultant
The global gastrointestinal therapeutics market size is expected to reach USD 65.1 billion by 2025, according to a new report by Grand View Research, Inc., registering a 6.6% CAGR during the forecast period. Growing geriatric population prone to gastrointestinal indications is one of the key factors anticipated to contribute to market growth. According to a report by WHO, colon cancer caused nearly 694,000 deaths in 2014.
Growing geriatric population, especially in emerging economies, is expected to drive market growth over the coming years. Furthermore, initiatives undertaken by the Centers for Disease Control and Prevention (CDC) to promote cancer screening nationwide is expected to boost market growth over the forecast period. The Division of Cancer Prevention and Control (DCPC) supports National Colorectal Cancer Action Campaign (NCCCP) and provides funds to aid research studies and implement strategies to control colorectal cancer. This increase in initiatives for screening is expected to fuel sales of therapeutics and present lucrative growth opportunities to the market.
Further key findings from the report suggest:
- Based on product type, the branded drugs segment dominated in 2016
owing to high potency drugs such as biologics and proton pump inhibitors.
High growth of branded drugs over recent years is a result of positive
patient outcomes and synergistic effect of various drugs used in
conjunction in the treatment regimen
- Generics are expected to expand at a lucrative CAGR owing to their
high cost-efficiency and rising number of patent expirations
- Ulcerative colitis accounted for the second-largest share in terms
of application in 2016 owing to high clinical urgency to curb growing
prevalence of ulcerative colitis
- The others segment, which includes constipation, nausea, and
pancreatic insufficiency, accounted for the largest share by application
in 2016. This is a consequence of consistent efforts by government
organizations for promoting awareness and enhancing management of these
- The Crohn’s disease segment is expected to grow at a lucrative rate
over the coming years due to presence of extensive pipeline products in
later stages of clinical
- Retail pharmacy accounted for the largest share by way of distribution channel in 2016 owing to high accessibility to retail stores and affordability. Online pharmacies are anticipated to witness lucrative CAGR as they usually offer price discounts on bulk purchases.
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Created on Feb 18th 2020 08:41. Viewed 162 times.