Global Gastrointestinal Drugs Market Trends And Strategies Of Major Players In The Gastrointestinal Drugs Market 2020
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The global gastrointestinal drugs market is expected to grow from $42.8 billion in 2019 to $48.5 billion in 2020 at a compound annual growth rate (CAGR) of 13.4%. The growth is mainly due to the impact of COVID-19 on digestive system. The digestive system manifestations in patients with COVID-19 include poor appetite, nausea, vomiting, diarrhea, abnormal liver enzymes, abdominal pain, and gastrointestinal bleeding. Patients with pre-existing digestive diseases such as inflammatory bowel disease may complain about exacerbation of symptoms or disease activity. The market is then expected to stabilize and grow at a CAGR of 4% from 2021 and reach $55.4 billion in 2023.
The gastrointestinal drugs market consists of sales of gastrointestinal drugs and related services by entities (organizations, sole traders and partnerships) that produce gastrointestinal drugs to treat gastrointestinal diseases. This industry includes establishments that produce drugs such as antacids to treat acid reflux, indigestion and others, antiulcerants drugs to treat intestinal ulcers, antiobesity drugs and antiemetics drugs. It also consists of establishments which produce essential nutrients such as vitamins and mineral supplements.
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The global gastrointestinal drugs market is further segmented based on type, distribution channel, route of administration, drug classification, mode of purchase and geography.
By Type: Antacids, Antiulcerants, Vitamin And Minerals, Antiobesity, Antiemetics And Antinauseants, Antidiarrheals.
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Others.
By Route Of Administration: Oral, Parenteral, Others.
By Drug Classification: Branded Drugs, Generic Drugs.
By Mode Of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs.
By Geography: The global gastrointestinal drugs market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American gastrointestinal drugs market accounts for the largest share of 48% in the global gastrointestinal drugs market 2019.
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Trends In The Gastrointestinal Drugs Market
Drug manufacturing companies are offering tranexamic acid for the treatment of acute gastrointestinal bleeding. Tranexamic acid is a medication used to treat or prevent excessive blood loss from major trauma or surgery and is now finding applications for gastrointestinal diseases. Tranexamic acid reduces clot breakdown, thus reducing the duration and amount of bleeding. This reduces mortality rate (from 10% to 7.5%) and the probability of blood transfusion by about 30%.
Gastrointestinal Drugs Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides gastrointestinal drugs market overviews, analyzes and forecasts market size and growth for the global gastrointestinal drugs market, gastrointestinal drugs market share, gastrointestinal drugs market players, gastrointestinal drugs market segments and geographies, gastrointestinal drugs market’s leading competitors’ revenues, profiles and market shares. The gastrointestinal drugs market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.