Ottawa, July 04, 2024 (GLOBE NEWSWIRE) -- The global gastroenterology market size is predicted to increase from USD 34.53 billion in 2023 to approximately USD 61.56 billion by 2033, According to Precedence Research. The gastroenterology market is driven by increasing gastrointestinal disorders and advanced technology.
The gastroenterology market encompasses the healthcare industry segment that is focused on the diagnosis, treatment, and management of diseases and disorders of the gastrointestinal (GI) tract. Gastroenterology is a branch of medicine that specializes in the gastrointestinal system and treats ailments such as inflammatory bowel disease, endoscopic surveillance, pancreatic disease, gastrointestinal cancer, and reflux esophagitis.
Nonsurgical techniques performed by gastroenterologists include upper endoscopy, colonoscopies, sigmoidoscopy, endoscopic ultrasounds, endoscopic retrograde, liver biopsy, feeding tube insertion, and capsule endoscopy. These procedures aid in the diagnosis of problems affecting the food pipe, small intestine, and stomach, the detection of stones or tumors in the bile duct area, the evaluation of blood loss or discomfort in the lower large bowel, the assessment of inflammation and fibrosis in the liver, and the examination of the small intestine.
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Gastroenterology Market Key Insights
- North America dominated the gastroenterology market with the largest revenue share of 38.40% in 2023.
- By type insight, the branded segment has contributed the highest revenue share of 72.47% in 2023.
- By distribution channel, the online pharmacies segment dominated the market in 2023.
- By application, the Crohn's disease segment has held the largest revenue share of 48.99% in 2023.
- By route of administration, the injectable segment led the market with a major revenue share of 51.81% in 2023.
The projections for growth by region show:
- The North America gastroenterology market size was estimated at USD 13.26 billion in 2023 and is anticipated to reach around USD 23.39 billion by 2033, growing at a CAGR of 5.9% from 2024 to 2033.
- The Europe gastroenterology market size was valued at USD 9.25 billion in 2023 and is predicted to touch around USD 16.62 billion by 2033, expanding at a CAGR of 6.1% from 2024 to 2033.
- The Asia Pacific gastroenterology market size reached USD 7.46 billion in 2023 and is predicted to be worth around USD 14.09 billion by 2033, poised to grow at a CAGR of 6.6% from 2024 to 2033.
- The MEA gastroenterology market size was valued at USD 1.93 billion in 2023 and is increasing over USD 3.20 billion by 2033, poised to grow at a CAGR of 5.2% from 2024 to 2033.
U.S. Gastroenterology Market Size and Forecast
The U.S. gastroenterology market size reached USD 11.91 billion in 2023 and is predicted to cross around USD 20.97 billion by 2033, growing at a CAGR of 5.9% from 2024 to 2033.
North America dominated the gastroenterology market in 2023. The market is growing due to an increase in gastrointestinal illnesses, poor eating habits, clinical investigations, rising healthcare expenditures, and an aging population. New treatments, such as cellular therapy and tiny molecules, are becoming available, but hospitalizations and surgical procedures for gastrointestinal problems are increasing. Biopharmaceutical businesses spend money in R&D on developing biologics and biosimilars. As of March 2021, there were 6,443 ongoing clinical trials for gastrointestinal disorders, with successful results possibly opening up new avenues for effective treatments.
Asia Pacific is observed to grow at the fastest pace during the forecast period. Countries like China and India have seen significant investments in expanding healthcare services, including gastroenterology. For instance, China's healthcare reforms and the expansion of its national health insurance coverage have improved access to gastroenterology services for a larger population.
Several multinational medical device companies have launched advanced endoscopic devices and technologies in the APAC market. For example, Olympus Corporation, a leading player in endoscopy, has introduced innovative endoscopic systems and solutions tailored to the needs of the APAC region, enhancing diagnostic and therapeutic capabilities.
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Gastroenterology Market Coverage
| Report Attribute | Key Statistics |
| Gastroenterology Market Size in 2033 | USD 61.56 Billion |
| Gastroenterology Market Size in 2024 | USD 36.43 Billion |
| Growth Rate From 2024 to 2033 | CAGR of 6% |
| Base Year | 2023 |
| Historical Year | 2021-2022 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Type, Distribution Channel, Application, Route of Administration, and Region |
| Regional Scope | North America, APAC, Europe, Latin America, MEAN, Rest of the World |
Gastroenterology Market Segments Outlook
Type Outlook
The branded segment dominated the gastroenterology market in 2023. Brand-name medications are regarded as "original" since they are the first of their class, necessitating substantial research, development, and clinical testing.
The recipe is kept confidential until the registered patent expires, allowing other manufacturers to make generic copies with a little 3.5% variation in absorption. These medications are the first to hit the market and have undergone extensive effectiveness testing. Although uncommon, there is a slight potential that brand-name medications are better absorbed and received by the body. Pharmaceutical businesses devote substantial attention to marketing and branding, resulting in increased recall and loyalty.
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Distribution Channel Outlook
The online pharmacies segment dominated the gastroenterology market in 2023. Online pharmacies provide patients with numerous advantages, including time savings, cost savings, privacy, fewer medication errors, and easy access to additional information. Patients can order prescription medication online, taking advantage of the convenience of online pharmacies and potentially saving up to one-third on overall costs. Online pharmacies also offer exceptional levels of anonymity and confidentiality, reducing the anxiety associated with in-person contacts.
Prescription verification is essential for online buying because all medications require a prescription from a personal doctor or an approved health questionnaire. Health insurance information is also handled quickly and efficiently. E-pharmacies also serve as a reputable source of extra information, offering links to medical sites and health data. Overall, online pharmacies provide patients with a more comfortable and efficient approach to handling their drugs.
Application Outlook
The Crohn's disease segment dominated the gastroenterology market in 2023. Crohn's disease is a chronic, recurrent inflammatory bowel disease (IBD) marked by transmural granulomatous inflammation. Its frequency has risen worldwide owing to a complex interaction of genetic predisposition and environmental factors. A review of databases and clinical practice guidelines was conducted to provide the most recent evidence-based strategy for diagnosing and managing Crohn's disease. There is no single gold standard investigation, and management should include dietary and lifestyle changes, drug induction, and remission of the condition, as well as surgical intervention if medical therapy fails.
Despite biological treatment being linked to better health-related quality of life, patients continue to report considerable limitations to their lifestyle and daily activities during flares and remissions.
Administration Route Outlook
The injectable segment dominated the gastroenterology market in 2023. The drug is swiftly and consistently absorbed, particularly in aqueous solutions, and has a faster onset of action than oral or subcutaneous methods. It avoids first-pass metabolism and gastrointestinal effects, resulting in efficacy like intravenous drug delivery.
It is particularly useful in emergency settings such as acute psychosis and status epilepticus. Depot injections provide delayed, sustained, and protracted pharmacological activity and can deliver a high volume of the drug.
Browse More Insights:
- Regenerative Medicine Market Size and Forecast: The global regenerative medicine market size was valued at USD 29.42 billion in 2023 and it is predicted to be worth around USD 154.05 billion by 2033 with a remarkable CAGR of 18% from 2024 to 2033.
- Biotechnology Market Size and Forecast: The global biotechnology market size was estimated at USD 1.38 trillion in 2023 and is expected to be worth around USD 4.25 trillion by 2033 and poised to grow at a noteworthy CAGR of 11.8% from 2024 to 2033.
- Telemedicine Market Size and Forecast: The global telemedicine market size was valued at USD 60.8 billion in 2022 and it is expected to reach USD 225 billion by 2030, growing with a compound annual growth rate (CAGR) of 17.16% during the forecast period 2022 to 2030.
- Pharmacy Market Size and Forecast: The global pharmacy market was estimated at US$ 1.20 trillion in 2022 and is expected to hit around US$ 1.78 trillion by 2032, poised to grow at a CAGR of 4.10% during the forecast period 2023 to 2032.
- Endoscopes Market Size and Forecast: The global endoscopes market was estimated at USD 15.16 billion in 2023 and is predicted to hit around USD 33.95 billion by 2033; foreseen to register a compound annual growth rate (CAGR) of around 8.39% during the forecast period 2024 to 2033.
- Generic Drugs Market Size and Forecast: The global generic drugs market size was valued at USD 464.98 billion in 2023 and is projected to hit around USD 776.78 billion by 2033, growing at a CAGR of 5.2% over the forecast period from 2024 to 2033.
- Specialty Generics Market Size and Forecast: The global specialty generics market size was estimated at USD 81.25 billion in 2023 and it is expected to hit around USD 164.68 billion by 2032, growing at a CAGR of 8.17% during the forecast period from 2023 to 2032.
- Geriatric Medicines Market Size and Forecast: The global geriatric medicines market size was valued at US$ 889 billion in 2022 and is expected to hit around US$ 4111.60 billion by 2032 with a registered CAGR of 16.60% during the forecast period 2023 to 2032.
- Healthcare Distribution Market Size and Forecast: The global healthcare distribution market size was valued at USD 981 billion in 2022 and it is predicted to reach USD 4.3 trillion by 2032, representing an impressive CAGR of 15.93% during the forecast period 2023 to 2032.
Gastroenterology Market Dynamics
Driver: Skilled professionals
Gastroenterologists specialize in delivering high-quality, comprehensive care to patients suffering from a variety of gastrointestinal disorders. They conduct studies and interpret outcomes from gastrointestinal endoscopic operations, making them specialists in their specialty.
Gastroenterologists provide higher-quality colonoscopy screenings and full consultation services, which results in more accurate diagnosis of polyps and cancer, fewer problems, and shorter hospital stays for many gastrointestinal disorders. This specialized training distinguishes gastroenterologists from other physicians who perform similar services, ensuring that patients with gastrointestinal problems receive complete, accurate, and thorough care.
Restraint: The emergence of new diseases
Infectious illnesses can result from various causes, including natural processes such as pathogen evolution and human activity. Population expansion, migration, international air travel, poverty, conflicts, and environmental changes all have a role in the resurgence of these illnesses.
To create an emerging illness, it must be introduced into a vulnerable community, spread rapidly, and persist within the population. Many illnesses are caused by zoonoses, which are infections transmitted from animals to people. As the human population grows, the likelihood of people coming into touch with potential hosts increases, posing a major risk to human health. Climate change is also an issue.
Opportunity: AI in endoscopy
Artificial intelligence (AI), specifically deep learning (DL) algorithms, are being utilized in endoscopy to detect cancer, determine the depth of cancer invasion, and classify distinct lesions based on clinical diagnosis. AI systems have shown great accuracy in stomach cancer detection, with a pooled sensitivity of more than 92% and a specificity of 88%.
In Barrett’s illness, deep learning may accurately detect focal lesions by establishing real-time diagnosis tools. AI systems are also utilized to identify various anatomical regions, allowing endoscopists to adhere to quality standards. AI has been applied in colonoscopy to increase adenoma detection rates by helping detect polyps. AI has also been used in capsule endoscopy (CE), with a meta-analysis indicating an overall accuracy of 95.4% in detecting ulcers or bleeding.
Gastroenterology Market Leaders
- Abbott Laboratories
- Pfizer Inc.
- Takeda Pharmaceutical Company Limited
- Salix Pharmaceuticals
- Johnson & Johnson
- GlaxoSmithKline Plc.
- ALLERGAN
- Astellas Pharma US, Inc.
- AbbVie Inc.
- AstraZeneca
Recent Developments
- In June 2024, The Asian Pacific Association for the Study of the Liver (APASL) held its 33rd annual meeting in Kyoto, Japan, which Nature Reviews Gastroenterology & Hepatology attended. Masao Omata spoke on the elimination of hepatitis B and C and the necessity of a cure for cirrhosis, while Shuichiro Shina talked about radiofrequency and new-generation microwave ablation in liver cancers.
- In May 2024, a pediatric Gastrointestinal conference was organized at Lucknow's Institute of Medical Sciences and SUM Hospital, with at least 150 attendees. The session, chaired by gastroenterologist Prof. (Dr.) Ujjal Poddar of the Sanjay Gandhi Postgraduate Institute of Medical Sciences and MGM Hospital's Prof. (Dr.) N.C. Mohanty focused on liver and gastrointestinal diseases in children.
- In March 2024, T.S. Chandrasekar, chairman and chief gastroenterologist of MedIndia Hospitals in Chennai, was named to the Scientific Programs Committee of the World Gastroenterology Organization (WGO), a global healthcare federation. Dr. Chandrasekar, a Padma Shri awardee, will work for two years to develop guidelines, raise public awareness of gastrointestinal and liver disorders, and promote multidisciplinary approaches to primary prevention, screening, early detection, and optimal care for digestive cancers.
Segments Covered in the Report
By Type
- Branded
- Generics
By Distribution Channel
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
By Application
- Crohn's Disease
- Ulcerative Colitis
- GERD
- IBS
- Others
By Route of Administration
- Injectable
- Oral & Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
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