Gastrointestinal Therapeutics Market to Grow at $65.1 Billion by 2025 | Key Players - Takeda Pharmaceuticals, Valeant Pharmaceuticals, Allergan plc, and Bayer AG
The global gastrointestinal therapeutics market size was valued at USD 51.9 billion in 2016 and is slated to expand at a lucrative CAGR of 6.6% over the forecast period. Increasing adoption of biologics for treatment of gastrointestinal diseases is the primary driver of the market.
(firmenpresse) - 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.
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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Unternehmensinformation / Kurzprofil:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales(at)grandviewresearch.com
For More Information: www.grandviewresearch.com
Datum: 10.09.2019 - 10:48 Uhr
Sprache: Deutsch
News-ID 598518
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Date of sending: 09.10.2019
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