Gastrointestinal Drugs Market Size

Gastrointestinal Drugs Market Growth Projections and Opportunities

The Asia gastrointestinal (GI) drug market is experiencing consistent growth, projected to reach USD 20,772.4 million by 2023, compared to USD 12,768.0 million in 2016, with a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2017 to 2023.
Gastrointestinal diseases have garnered significant attention in recent years, prompting numerous companies to invest in research and development to create innovative and advanced drugs. Key drivers for this market include the escalating prevalence of GI diseases, a growing geriatric population, and increased investments in research and development initiatives. Additionally, lifestyle changes and heightened awareness of available treatments are contributing to the expansion of the market. However, challenges such as the presence of misbranded and spurious drugs, along with the unavailability of lifelong cures, may impede the market's growth over the review period.

The segmentation of the Asia gastrointestinal drug market is primarily based on drug type, type of diseases, and regions.

On the basis of drug types, the market is categorized into acid neutralizers, laxatives and antidiarrheal drugs, antiemetics, antiulcer drugs, and others. The acid neutralizers segment holds the largest market share, constituting 33.3% of the Asia gastrointestinal drug market in 2016. This dominance is attributed to the widespread occurrence of acidity. The Asia acid neutralizers market is projected to reach USD 7,004.6 million by 2023, growing at a CAGR of 6.32% from 2017 to 2023.

In terms of diseases, the gastrointestinal drug market is segmented into esophagus diseases, stomach diseases, intestinal diseases, rectum diseases, and others. In 2016, the esophagus diseases segment dominated the market due to its widespread occurrence. The Asia esophagus diseases market is anticipated to reach USD 7,427.6 million by 2023, growing at a CAGR of 6.32% from 2017 to 2023.

Regionally, the Asia gastrointestinal drug market is divided into Japan, China, India, Korea, and the rest of Asia. In 2016, Japan held the largest market share at 26.5% of the Asia gastrointestinal drug market, attributed to high healthcare spending and an increasing prevalence of GI diseases. India accounted for the second-largest market, showcasing the fastest growth in the region due to untapped growth opportunities and a substantial geriatric population. Countries like Indonesia, Taiwan, and Singapore have emerging markets for GI drugs. The Japan gastrointestinal drug market was valued at USD 3,377.4 million in 2016 and is expected to reach USD 5,312.4 million by 2023, with a CAGR of 5.70% during the forecast period.