Gastrointestinal Therapeutics Market size is expected to register commendable growth between 2023 and 2032 owing to the mounting demand for new therapies for a variety of complex gastrointestinal issues. These include motility disorders, IBD, diarrheal disorders, constipation, iatrogenic diseases like visceral pain, postoperative ileus, GERD, and other esophageal disorders. Based on a multinational study conducted by the American Gastroenterological Association on 73,076 respondents, over 40% of people worldwide have Functional Gastrointestinal disorders (FGIDs), which significantly impact their healthcare usage and quality of life.
The high prevalence rate associated with these diseases has encouraged pharmaceutical manufacturers globally to undertake R&D initiatives and introduce novel therapies, including targeted drugs and biologics, to aid the rising disease burden. Besides, the escalating drug development projects and subsequent regulatory approvals will drive optimistic gains outcomes for the gastrointestinal therapeutics market.
However, stringent regulatory norms regarding drug approvals and high investment costs associated with drug development projects may act as key outllook restraining factors. Moreover, the ongoing Russia-Ukraine disturbances and heightening inflation across major economies may limit R&D expenditure, thus, resulting in sluggish industry revenue. Besides, the declining economic expansion may reduce people's healthcare spending, further impeding market performance over the forthcoming years.
Based on product, the genetic segment is estimated to account for a lucrative share in the gastrointestinal therapeutics industry through 2032, mainly attributed to an increase in the approval of generic drugs for the treatment of GI disorders across various regions.
Considering application, the gastrointestinal therapeutics market is expected to register appreciable gains from the ulcerative colitis segment up to 2032. The disease, which mainly impacts the mucosal lining of the colon, is a chronic idiopathic inflammatory disorder of the gastrointestinal tract. According to recent data, the prevalence of gastrointestinal diseases is increasing in numerous parts of the world owing to improved access to health, altered lifestyles, and improved rates of industrialization and sanitation. Presently, a number of institutes are exploring innovative and promising therapeutic approaches, which are expected to propel segment progress in the coming years.
With respect to the regional landscape, the North America gastrointestinal therapeutics market is set to depict remarkable gains by 2032. The regional gain is credited to the flourishing research landscape and the prominence of several pharmaceutical and drug manufacturers in the region. In addition, the noticeable rise in healthcare investments and the frequent rollouts of supportive government programs and initiatives will further drive regional expansion.
Notable players in the gastrointestinal therapeutics industry include Valeant Pharmaceuticals, Takeda Pharmaceuticals, Allergan plc, Bayer AG, Abbott Laboratories, AstraZeneca, GlaxoSmithKline plc, Janssen Pharmaceuticals, AbbVie Inc., Pfizer, and others.