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.
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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 conditions
- 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 trials
- 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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View Research, Inc. is a U.S. based market research and consulting company,
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company provides syndicated research reports, customized research reports, and
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company offers market intelligence studies ensuring relevant and fact-based
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