(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Nov 25, 2021, 08:51 /Comserve / -- Gastrointestinal Therapeutics Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The Gastrointestinal Therapeutics Market is expected to register a CAGR of 6.8% during the forecast period.
According to a research study by Hunt R.H.a et al., published in Digestive Diseases Journal March 2021, the study results found that digestive system may be affected by the SARS-CoV-2 virus, and those with pre-existing disease are at greatest risk of adverse outcomes. Some repurposed drugs used against COVID-19 can cause or aggravate some of the COVID-19-related gastrointestinal symptoms and can also induce liver injury.
In addition, according to a research study by Qing Ye et al., published in American Journal of Physiology August 2020, COVID-19 Cases with gastrointestinal symptoms are more likely to be complicated by liver injury and acute respiratory distress syndrome (ARDS). If not treated in time, coma and circulatory failure may occur.
The major factors that contribute to the growth of the gastrointestinal therapeutics market include the increasing prevalence of gastrointestinal diseases due to unhealthy dietary habits, additional numbers of clinical trials with accurate results, increasing healthcare expenditure, and growth in the geriatric population.
Click Here to Download Sample Report >>
The increasing burden of gastrointestinal disorders in the country is also making market more lucrative. For instance, according to the research study by Thomas Joshua Pasvol et al., published in BMC Journal August 2020, in United Kingdom, the incidence of inflammatory bowel disease (IBD), Crohn's disease (CD) and ulcerative colitis (UC) was found to be 28.6, 10.2 and 15.7/100,000 population, respectively. Moreover, in adolescents aged 10–16 years, incidence of inflammatory bowel disease (IBD) was increased from 13.1 in 2000 to 25.4/100,000 population in 2018, respectively.
Therefore a wide range of new generation therapeutics is found targeting that include novel small molecules and cellular therapy are currently under investigation. Other driving factors include the rising surgical treatments and hospitalizations, due to GI diseases, and increasing R&D investments by biopharmaceutical companies in developing biologics and biosimilars. According to the National Clinical Trial (NCT) registry, as of May 2021, there are around 6,443 ongoing clinical trials related to gastrointestinal diseases across diferent phases of development. The positive outcomes from these studies can expect new effective therapeutics in near future.
There is a rising trend towards the development of effective therapeutics products by the market players. The companies are majorly expanding their pipeline and product portfolio through collaborations with specialized companies in the gastrointestinal therapeutics. For instance, in July 2018, HiFiBiO Therapeutics collaborated with Takeda, in a multi-target agreement for the discovery of breakthrough antibody therapies to potentially treat a variety of gastrointestinal diseases and other disorders.
However, risk factors, such as those related to the physiological, behavioral, psychosocial, and socio-environmental aspects, restrict the populations from reporting the diseases early, which reflects the low awareness and the economic burden. These risk factors and the increasing number of patent expirations restrict the growth of the gastrointestinal therapeutics market.
Key Market Trends
Ulcerative Colitis Segment is Found to Witness Healthy Growth Rate Over the Forecast Period
The growth of Ulcerative colitis segment can be attributed to the easy availability of drugs in the market to treat this condition. The segment is also anticipated to grow at a considerable rate owing to high clinical urgency to curb the growing prevalence of ulcerative colitis. This high prevalence is due to poor prognosis and consumption of unhealthy food, which may result in a high probability of disease recurrence.
The COVID-19 pandemic has increased concern regarding SARS-CoV-2 infection in inflammatory bowel disease (IBD) patients, especially those on immunosuppressive therapies or with active disease. For instance, according to a research study by Anupam Kumar Singh et al., published in United European Gastroenterology Journal March 2021, the study results found that risk of adverse outcomes of COVID-19 will be higher in patients with ulcerative colitis than in patients with Crohn's disease.
According to a research study by Shinji Okabayashi et al., published in Journal of the Anus, Rectum and Colon January 2020, in Japan, there were around 180,000 patients with ulcerative colitis. In addition, in Latin America, the incidence and prevalence of ulcerative colitis (UC) has been reported to be rising in newly industrialised regions. According to a research study by Paulo Gustavo Kotze et al., published in Therapeutic Advances in Gastroenterology Journal July 2020, the incidence and prevalence of ulcerative colitis (UC) in Latin America was between 0.04 to 8.00/100,000 and 0.23 to 76.1/100,000, respectively.
Increasing research and development activities is also boosting the market growth. According to the National Clinical Trial (NCT) registry, as of May 2021, there are around 245 ongoing clinical trials related to ulcerative colitis across diferent phases of development. The positive outcomes from these studies can expect new effective therapeutics for ulcerative colitis in coming years.
In addition, Takeda Pharmaceuticals, Jassen Pharmaceuticals, and Pfizer are among the major global companies that have established themselves with their products for the treatment of inflammatory ulcerative colitis. Moreover, the increasing involvement of key players in product development related to the field is anticipated to drive the segment growth. For instance, in March 2019, Johnson & Johnson announced the new clinical data from its Phase III UNIFI study showing positive results of STELARA in adults suffering from moderate to severe ulcerative colitis.
In addition, in August 2018, Pfizer Inc. received marketing approval for XELJANZ from the European Union in the treatment of moderate to severe ulcerative colitis. The novel launch of products from this strong pipeline is anticipated to propel market growth over the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period
Some of the factors that are driving the market growth in North America region include technological advancements, growing number of gastrointestinal diseases, rising geriatric population and obese population, increasing research and development activities along with presence of key market players.
The COVID-19 infection is noted to be more severe in patients with co-morbid conditions, those who are immunosuppressed, malnourished and immunocompromised. Inflammatory bowel disease (IBD) which includes Crohn's disease and ulcerative colitis is chronic remitting and relapsing disorders with intestinal and extraintestinal manifestation. Inflammatory bowel disease (IBD) patients are often malnourished and on immunosuppressive medications and there is a hypothetical concern that IBD patients are at substantial risk of COVID-19 infection.
According to a research study by Maliha Naseer published in World Journal of Meta-AnalysisOctober 2020,in the United States, the management of inflammatory bowel disease (IBD) patients was often complex and poses unique challenges for gastroenterologists during the COVID-19 pandemic. The study results found that, during the COVID-19 pandemic 2020, IBD patients continued their medications and followed universal precautions i.e. masks, hand and respiratory hygiene and avoidance of health care facilities and public toilets as general population. Among IBD patients older age, having active disease, and co-morbid conditions are risk factors for a severe COVID-19 infection.
Request For The Sample Report Here:
According to a research study by Gilaad G Kaplan et al., published in Journal of the Canadian Association of Gastroenterology February 2019, Canada has among the highest prevalence and incidence of inflammatory bowel disease (IBD) in the world. Moreover, the prevalence of inflammatory bowel disease (IBD) in 2018 was 0.7% of the Canadian population. This number is projected to rise to 1.0% of the population by 2030. In 2018, the number of Canadians with IBD was approximately 270,000 and is predicted to rise to 403,000 Canadians in 2030. This factor is expected to drive market growth as this will increase demand for GI therapeutics in the management of the disease.
The market players have adopted various strategies such as investment in research and development, product portfolio expansion, development of novel ulcerative colitis and Crohn's disease therapeutics, mergers and acquisitions to establish a strong distribution network. For instance, in February 2018, Janssen Biotech, Inc. and Theravance Biopharma, Inc. entered into a worldwide collaboration to develop TD-1473 for the treatment of inflammatory bowel disease (IBD), which includes ulcerative colitis and Crohn's disease.
In addition, in April 2019, Salix Pharmaceuticals (Bausch Health Companies Inc.) entered into an exclusive license agreement with Mitsubishi Tanabe Pharma to commercialize and develop late stage investigational S1P modulators for the treatment of inflammatory bowel disease. Thus, owing to above mentioned factors it is expected to drive market growth in North America region during the forecast period.
Competitive Landscape
The Gastrointestinal Therapeutics Market is moderately competitive. These market players have extensively employed competition sustainability strategies such as new product development and regional and distribution channel expansion to gain a higher share in the market. Moreover, increased focus on refining operation and supply chain management has facilitated key players to maintain a competitive edge. Some of the market players include Abbott Laboratories, Takeda Pharmaceutical Company Limited, Abbvie Inc., Bayer AG and Cipla Inc. , among others.
Request For Full Report >> Gastrointestinal Therapeutics Market
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
MENAFN25112021004694010674ID1103250863
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.