Drug Development Propels Growth in Gastroenterology Industry

In 2022, the global gastroenterology industry revenue was estimated worth USD 51.37 billion. It is predicted to surge at a compound annual growth rate (CAGR) of 6.21% from 2023 to 2032 and is expected to attain a value of USD 93.8 billion by 2032.

The main factors driving industry development are expanding senior populations, geriatric events, hospital outpatient department (HOPD) overcrowding, and increased demand for ambulatory treatments to reduce excessive inpatient expenditures.

Market Growth:

All facets of clinical research, including therapy, prevention, diagnosis, screening, and quality of life, are of interest to gastroenterology. Novelty, relevance to clinical practice, the robustness and suitability of the experimental design, and mechanistic understanding will all be considered when determining the publication priority.

All facets of high-impact translational and fundamental research that might be relevant to our sizable readership are of interest to gastroenterology. Determining a genetic cause, modifier, or association with disease; describing a novel experimental disease model; characterizing a novel GI-related drug action mechanism; and preclinical studies that describe a potential novel therapy, diagnostic, or prognostic marker or tool that is related to the disease are some examples of these aspects.

The primary factors driving the gastroenterology industry are the increased frequency of gastrointestinal problems brought on by unhealthy eating habits, the growth of clinical studies with valid results, rising healthcare expenses, and the increase in the older population. However, it is projected that due to pharmacological adverse effects and tight regulatory requirements for drug approval, the industry will not expand as rapidly as it might.

Regional Snapshot:

Due to the presence of several industry participants and their varied strategic efforts, North America held the top spot in the global industry for gastrointestinal therapeutics in 2022, accounting for 40.25% of the revenue share. Technological advancements, an increase in gastrointestinal diseases, an increase in the number of geriatric and obese people, and an increase in research and development activities with the presence of major industry players are some of the factors propelling industry growth in the North American region.

It was suggested that GERD management in Asian areas be carried out in accordance with the Asia-Pacific Consensus on the Management of Gastroesophageal Reflux Disease (GERD) and the GERD Treatment Guidelines of 2015 developed by the Japanese Society of Gastroenterology. In this context, it is less well-known how GERD is now managed in clinical practice in Asian locations.

There were substantial regional differences in the prevalences of erosive GERD (ERD), non-ERD, uninvestigated GERD, and Barrett's esophagus among Asian nations. The presence of symptoms in all nations was the main consideration in the diagnosis of GERD. In all nations, a proton pump inhibitor was the most often given medication to treat GERD. Regular GERD endoscopic monitoring was carried out.

Gastroenterology Industry Report Scope:

Report Coverage Details
Market Revenue in 2023 USD 54.56 Billion
Projected Forecast Revenue in 2032 USD 93.8 Billion
Growth Rate from 2023 to 2032 CAGR of 6.21%
Largest Market North America
Base Year 2022
Forecast Period 2023 to 2032
Regions Covered North America, Europe, Asia-Pacific, Latin America and Middle East & Africa


Market Dynamics:

Drivers:

The ever-evolving field of internal medicine known as gastroenterology treats diseases and ailments of the gastrointestinal system, which includes the esophagus, stomach, small and large intestines, liver (hepatology), and pancreas. (Pancreatology). Additionally, sophisticated endoscopy has significantly improved over the past several years, and care for gastroenterological illnesses interacts with surgery, radiology, pathology, cancer, and nutrition. Recent interactions between fundamental and clinical scientists have uncovered novel disease pathophysiology pathways, ultimately resulting in novel treatment targets. Never before have there been so many discoveries that have been promptly applied to therapeutic practice. These discoveries are altering how illnesses are currently identified, tracked, and treated.

Expanding their product pipeline, pharmaceutical, and biotechnology companies are putting more of an emphasis on research and development to uncover and develop novel drugs for treating gastrointestinal diseases. Additionally, it is projected that the expansion would be aided by the increased worldwide therapeutic development for digestive disorders.

Restraints: 

High healthcare cost:

The rise in healthcare expenditures restricts the industry's ability to grow. The inability to access medical services and treatments further restricts the industry's growth. Chronic gastritis is a common inflammatory condition. The inflammatory stomach mucosa in many people has the propensity to deteriorate with time. (Atrophic gastritis). Patients with autoimmune chronic corpus gastritis have very little possibility of spontaneous healing, and gastritis often lasts a lifetime. 

Opportunities: 

Increasing R&D expenditure by the pharmaceutical industries

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 cfirms are investing more in R&D to create biologics and biosimilars. According to the National Clinical studies (NCT) registry, there were around 6,443 active clinical studies 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.

Type Insights:

The branded sector, which had the greatest industry share in 2022, is likely to rise steadily throughout the forecasted period. The industry exclusivity and high pricing of branded gastrointestinal treatments, as well as intriguing experimental pipeline prospects, are driving the segment's growth. Throughout the projected period, the generic sector is anticipated to increase at a profitable pace. The cost-effectiveness of generics and biosimilars, the increased use of generic medications, and the expanding availability of generic alternatives to branded medications are all factors contributing to the segment's rise.

Distribution Channel Insights:

In 2022, the retail pharmacy sector accounted for the biggest revenue share. The category is expanding as a result of factors such as the increased demand for OTC medications like antacids, anti-emetics, and laxative preparations as well as unclean food habits that frequently cause stomach upsets. Additionally, the availability of innovative therapies and the rising approval and usage of oral medications for the treatment of GI problems are boosting growth.

Application Insights:

Application-based divisions of the gastroenterology industry include Crohn's disease, ulcerative colitis, GERD, IBS, and others. In terms of revenue share, the Crohn's disease segment dominated the gastroenterology industry in 2022. 

This is due to the fact that there have been more cases of Crohn's disease (CD) over the past 50 years, more novel drugs are being approved for CD, and there are more ways to diagnose the condition, such as imaging modalities or serological markers, all of which are anticipated to boost the CD industry over the upcoming years.

Recent Development:

  • In September 2022, at a symposium hosted by the European Crohn's and Colitis Organization, the combined use of golimumab and guselkumab produces excellent results in patients with ulcerative colitis.
  • In September 2022, Entyvio's research to provide a novel treatment for inflammatory bowel diseases will start receiving financing from Pharmac in February 2023.
  • In September 2022, AbbVie's risankizumab (SKYRIZI®), a significant participant in the global gastroenterology industry, earned a positive CHMP opinion for the treatment of patients with moderate to severe Crohn's disease. 
  • In September 2022, Palatin's PL8177 for ulcerative colitis started mid-stage tests.
  • In August 2022, Researchers at Georgia State University have shown that using novel lipid nanoparticles to treat mice with acute ulcerative colitis is extremely effective.
  • In August 2022, in a clinical experiment, the multiple sclerosis drug ozanimod showed promise and was discovered to be helpful in treating people with ulcerative colitis.
  • In August 2022, for a cross-phase III study of its ulcerative colitis medicine, a French company by the name of Abivax raised roughly $49 million.
  • In March 2022, AbbVie received FDA clearance for RINVOQ, a prescription medication intended to treat people with moderate to severe ulcerative colitis. With the endorsement of RINVOQ as a treatment option, AbbVie continues its cutting-edge investigation into how to better the lives of ulcerative colitis patients.

Major Key Players:

  • Abbott Laboratories
  • Johnson & Johnson
  • AbbVie Inc.
  • Salix Pharmaceuticals
  • GlaxoSmithKline Plc.
  • ALLERGAN
  • Takeda Pharmaceutical Company Limited
  • AstraZeneca
  • Astellas Pharma US, Inc.
  • Pfizer Inc.

Market Segmentation:

By Type

  • Branded
  • Generics

By Distribution Channel

  • Retail Pharmacies
  • Hospital Pharmacies
  • Online Pharmacies

By Application

  • Crohn's Disease
  • Ulcerative Colitis
  • GERD
  • IBS
  • Others

By Route of Administration

  • Injectable
  • Oral & Others

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