gastrointestinal drugs Market

The gastrointestinal drugs market is anticipated to grow from US$ 59,713.68 million in 2023 and is projected to reach US$ 106,304.81 million by 2031; it is expected to register a CAGR of 7.3% during 2023-2031. The gastrointestinal drugs market growth is attributed to the increasing prevalence gastrointestinal diseases and increasing developments of biologics for gastrointestinal diseases.

Gastrointestinal drugs are medications specifically designed to treat disorders and conditions affecting the digestive system, which includes the esophagus, stomach, intestines and related organs. These drugs can help manage symptoms, alleviate pain, and treat underlying diseases.

North America accounted for a major share of the global gastrointestinal drugs market in 2023. The North America gastrointestinal drugs market is segmented into the US, Canada, and Mexico. Increasing incidence of gastrointestinal diseases due to change in lifestyle, government support for prevention and treatment of gastrointestinal diseases, presence of well-developed healthcare infrastructure, growing pharmaceutical industry, reimbursement coverage and industry giants are some of the prominent factors propelling the market growth in North America.

In North America, the US is the largest market for gastrointestinal drugs. In the US, the increasing prevalence of gastrointestinal diseases contributes directly to the demand for gastrointestinal drugs. Crohn's disease and ulcerative colitis are two of the most common types of inflammatory bowel diseases (IBD). As per the Crohn's & Colitis Foundation of America (CCFA) report, "Facts about IBD," approximately 70,000 new cases of IBD are diagnosed yearly in the US. The overall prevalence of IBD increased significantly from 2011 to 2020. The study estimates that nearly 1 in 100 Americans have IBD, and ~2.4 million Americans have some form of IBD. Additionally, the rising funding for research and development related to gastrointestinal diseases is expected to increase focus on developing novel treatment medications. Per a study titled "Endometriosis Is Undervalued," published in 2022, Crohn's disease research received US$ 90 million in funding, or US$ 130.07 per patient.

The US Food and Drug Administration (FDA) approvals are likely to support the growth of the market. For instance, in May 2020, the US FDA approved Qinlock (ripretinib) tablets as a fourth-line treatment for advanced gastrointestinal stromal tumors (GIST). In May 2024, Strides Pharma received approval for the generic version of Sucralfate Oral Suspension, 1gm/10 mL, from the US FDA for the treatment of gastrointestinal diseases as well as stomach ulcers, gastroesophageal reflux disease (GERD), and stomach inflammation and prevent stress ulcers.

Therefore, the growth of this market is driven by the growing prevalence of gastrointestinal diseases, developments by the market players, and the presence of major market players in the US.

Strategic Initiatives in Gastrointestinal Drugs to Provide Market Opportunities in Future

Companies operating in the gastrointestinal drugs market constantly focus on strategic developments such as product approvals, collaborations, funding, agreements, and new product launches, which help them improve their sales, increase their geographic reach, and improve their capacities to cater to a greater than existing customer base. A few strategic initiatives taken by key players operating in the gastrointestinal drugs market are mentioned below

• In September 2023, Vivante Health closed US$ 31 million in a Series B funding round led by Mercato Partners, a new investor, to advance the digital digestive health platform. The new funding is mainly received due to the latest GIThrive platform enhancements that highlight the platform's unique ability to provide proper care at the right time. Series B Capital provides continued technological advancements designed to predict the onset and progression of gastrointestinal conditions and provide complete virtual care.
• In May 2024, Strides Pharma Global Pte. Ltd received approval from the US FDA to market the generic version of Sucralfate Oral Suspension, 1gm/10 mL. The medication is used for the treatment of gastrointestinal diseases such as stomach ulcers, GERD, and stomach inflammation, as well as to help avoid stress ulcers.
• In May 2023, AbbVie received US FDA approval for RINVOQ (upadacitinib) to treat adults with mild to severe active Crohn's disease having an inadequate response or intolerance to one or more TNF blockers. It is the seventh FDA approval for RINVOQ across rheumatology, dermatology, and gastroenterology, where it is now indicated in both ulcerative colitis and Crohn's disease.

Therefore, strategic initiatives by various companies focusing on the development of drugs for the treatment of digestive diseases are likely to offer growth opportunities to the gastrointestinal drugs market in the coming years.

Gastrointestinal Drugs Market: Competitive Landscape and Key Developments

Sanofi SA, GSK Plc, Johnson & Johnson, Bausch Health Companies Inc, AstraZeneca Plc, Takeda Pharmaceutical Co Ltd, AbbVie Inc, Bayer AG, Celltrion Inc, and Pfizer Inc are among the key companies operating in the gastrointestinal drugs market.

The US Food and Drug Administration, International Foundation for Gastrointestinal Disorders, and American college of gastroenterology, and The International Union of Basic and Clinical Pharmacology (IUPHAR) are among the primary and secondary sources referred to while preparing the gastrointestinal drugs market report.