An increase in the prevalence of gastrointestinal illnesses is driving the market growth
Market CAGR for gastrointestinal drugs is being driven. The market expansion is estimated to be throughout the forecasted period to be aided by the rising prevalence of gastrointestinal illnesses. For instance, according to a report from the International Foundation for Gastrointestinal Disorders, Inc. (IFFGD) in July 2022, the prevalence of gastroesophageal reflux disease (GERD) in the world's populations in 2014 ranged from 18 to 28% in North America, 9 to 26% in Europe, 9 to 33% in the Middle East, and 3 to 8% in East Asia, among other places.
Additionally, the increase in the prevalence of gastrointestinal disorders is a significant driver of the market's expansion for gastrointestinal medications. On the other hand, substantial funding, particularly in scientific research for the development and advancement of these medications, as well as growing awareness about the effectiveness of the treatments and the healing process, are both considerably boosting the market's growth. Additionally, this market is anticipated to grow rapidly in the upcoming years due to technological developments in the treatment procedure.
Due to dietary changes, there will likely be a rise in the number of individuals suffering from GI illnesses, boosting the demand for these medications.
Potent pipeline pharmaceuticals like ustekinumab, risankizumab, and ABBV-154 and the rising prescription of biological medications will boost market expansion throughout the anticipated period. In the upcoming years, the market expansion is predicted to be facilitated by the rising number of regulatory approvals for innovative gastrointestinal therapeutic medications. For instance, the U.S. FDA approved RINVOQ (upadacitinib), a prescription drug from AbbVie Inc., in March 2022 to treat severe to moderate ulcerative colitis in adults. The use of RINVOQ to treat individuals who respond poorly to TNF blockers is anticipated to rise.
Likewise, the prescription rate for new & potent medications is anticipated to rise in the upcoming years due to the growing availability of novel treatments for gastrointestinal problems. For instance, BMS gained FDA approval from the United States for Zeposia in May 2021 to treat moderate to severe ulcerative colitis. The only sphingosine 1-phosphate (S1P) receptor modulator approved for the treatment of active UC is a deposit. As a result, it is anticipated that the demand for gastrointestinal drugs will increase throughout the projection period due to the high prevalence of gastrointestinal diseases in the population.
Thus, driving the gastrointestinal drugs market revenue.
Par Pharmaceutical, Inc., an operating company of Endo International plc (OTC: ENDPQ) announced in May 2024 that it had started the production of generic ibuprofen-famotidine 800 mg/26.6 mg tablets which are aimed to be copycats for DUEXIS® by Amgen (formerly Horizon Therapeutics). Such pills are used to relieve signs and symptoms of rheumatoid arthritis and osteoarthritis with a reduced risk of ibuprofen-induced stomach or upper intestinal ulcers.
On July 30th, 2023, Viatris Inc. (NASDAQ: VTRS), a global healthcare company and Kindeva Drug Delivery L.P., released Breyna™ (budesonide and formoterol fumarate dihydrate) Inhalation Aerosol as the first generic version of Symbicort® from AstraZeneca under Abbreviated New Drug Application (ANDA) approved by the U.S. Food and Drug Administration (FDA). For certain patients with asthma or chronic obstructive pulmonary disease (COPD), Breyna is a drug-device combination product available immediately in two strengths – 80 mcg/4.5 mcg and 160 mcg/4.5 mcg.
This includes people aged six years or older with asthma or COPD like chronic bronchitis/emphysema who take these medications to stop their conditions from worsening but they do not provide relief for sudden breathing difficulties.
The Center for Drug Evaluation and Research (CDER) at The U.S. Food and Drug Administration Approved a Bouquet of Medicines in 2023, Which Will Improve the Quality of Life—and Maybe Prolong Lives—of Patients this Year. In fact," CDER approved 55 novel drugs in that year," according to our annual New Drug Therapy Approvals report. A novel drug contains an active ingredient(s) that has never been previously FDA-approved. We also took other important actions, such as expanding the indications or patient populations of some previously approved therapies.
Additionally, we allowed new dosage forms or drug formulations and made some prescription drugs available without a prescription.
The ongoing evolution in the Global Gastrointestinal Drugs Market appears to be driven by an increasing prevalence of gastrointestinal disorders, alongside a growing demand for innovative therapeutic solutions.
U.S. Food and Drug Administration (FDA)