Gastrointestinal (GI) diseases affects stomach, large intestine and rectum, small intestine, esophagus, liver, gallbladder, and pancreas. The symptoms of GI diseases are heartburn, indigestion, bloating, constipation, and many more. The diseases of gastrointestinal have become common in the people across world. Gastrointestinal diseases are caused by various reasons such as acid reflux, heartburn, indigestion, nausea and vomiting, peptic ulcer disease, abdominal pain syndrome, biliary tract disorders, gallbladder disorders, and gallstone pancreatitis.
Gastrointestinal Diseases Market has gained a tremendous attention over the last few years. Owing to increasing prevalence of different gastrointestinal diseases and disorders, encouraged many companies for initiating the research in the development of innovative and advanced drugs. Furthermore, increasing prevalence of GI diseases, rising geriatric population, and increasing investment in research & development drives the growth of the market. Additionally, changing lifestyle and increasing awareness about the availability of the treatment fuel the market growth.
Ageing, decreases the immunity of the body and increases the probability of diseases. According to Economic and Social Commission for Asia and the Pacific (ESCAP), in 2016, approximately 12.4% of the population in the region was over 60 years. According to Asian Development Bank, it was estimated that by 2050, 15% of total Malaysian population will be over 65 year old and in China, the elderly population will reach over 300 million by 2050. Thus, the increasing geriatric population in Asia likely to help the growth of the market over the forecast period.
Source: World Health Organization, Centers for Disease Control and Prevention, expert interview market research future analysis, annual report, white paper, company presentation
Market Segmentation:
The Asia gastrointestinal drugs market is segmented on the basis of drug class and type of disease.
On the basis of drug class, it is segmented into acid neutralizers, laxatives & antidiarrheal, antiemetics, antiulcer, and others.
On the basis of type of disease, it is segmented into esophagus diseases, stomach diseases, intestinal diseases, rectum diseases, and others.
Key Findings:
The Asia gastrointestinal drugs market is expected to reach USD 20,772.4 million by 2023 at a CAGR of 6.1%
Acid neutralizers segment accounted for the largest market share with 33.3% of the Asia gastrointestinal drug market, by drug types in 2016
In 2016, Esophagus diseases segment accounted for the major share of the market as it was the most widely occurring GI disease. The Asia esophagus diseases market by type of diseases is expected to reach USD 7,427.6 million by 2023, growing at a CAGR of 6.32% from 2017 to 2023
India is expected to be the fastest growing market at a CAGR of 6.60% during the forecast period
Regional Analysis:
Asia gastrointestinal drugs market is segmented on the basis of region: China, India, Republic of Korea, and Rest of Asia. Japan accounts for the major share of the market owning to the well-developed technology and high healthcare expenditure. People in this region are more focused on health, which drive the growth of the market. China is the second largest market, which is followed by India. Owing to the government support for the research & development, well-developed healthcare infrastructure, and high health care expenditure drive the China gastrointestinal drugs market. India is the fastest growing gastrointestinal drugs market across the region. Increasing need for the better treatment methods rapidly changing the healthcare sector. Additionally, the presence of huge opportunities for the development of the market have boosted the market growth.
Developing nations, for instance, India is experiencing high demand for gastrointestinal disorder drugs. Major pharmaceuticals drug manufacturers are using their technology and services to develop new drugs for gastrointestinal diseases to meet the growing demand.
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