New York, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Market Overview
The global gastroenterology market is projected to reach USD 38.5 billion by 2024 and grow to USD 66.4 billion by 2033, with a compound annual growth rate (CAGR) of 6.2%. Gastroenterology is a medical specialty focused on diagnosing, treating, and preventing digestive system diseases, including the gastrointestinal (GI) tract, liver, pancreas, and gallbladder. This field addresses conditions like acid reflux, ulcers, irritable bowel syndrome (IBS), Crohn’s disease, liver disorders, and cancers affecting digestive organs. Gastroenterologists use diagnostic procedures such as endoscopies, colonoscopies, and biopsies to manage these disorders.
The US Gastroenterology Market
In the U.S., the gastroenterology market is expected to reach USD 12.5 billion by 2024, growing to USD 20.5 billion by 2033, with a CAGR of 5.8%.
Growth in the U.S. market is fueled by the rising incidence of GI disorders, including Crohn's disease, IBS, and colorectal cancer, coupled with an aging population and increased healthcare spending.
Key trends in the U.S. include the growing use of biologics and biosimilars for treating inflammatory bowel disease and Crohn's disease, as well as the use of genetic data and biomarkers in personalized medicine to tailor treatments to individual patients.
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Important Insights
- Market Growth: The global gastroenterology market is anticipated to expand by USD 66.4 billion, with a CAGR of 6.2%.
- Type Analysis: The branded segment is projected to hold the largest revenue share in the gastroenterology market by 2024.
- Route of Administration Analysis: Injectable treatments are expected to lead the gastroenterology market with the highest revenue share in 2024.
- Application Analysis: Crohn’s disease is forecasted to dominate the gastroenterology market in terms of revenue by 2024.
- End User Analysis: Retail pharmacies are expected to account for the largest revenue share in the gastroenterology market by 2024.
- Regional Analysis: North America is predicted to lead the global gastroenterology market with a 38.6% market share by 2024.
Latest Trends
- Integration of AI and Machine Learning: AI is being applied for diagnostic image analysis, disease progression predictions, and personalized treatment plans, enhancing clinical decision-making.
- Focus on Gut Microbiome Research: Increasing research on gut microbiome links to conditions like obesity and inflammatory bowel diseases, leading to new probiotic and prebiotic therapies.
Competitive Landscape
- Sustainable Competition Strategies: Companies in the gastrointestinal market are focusing on new product development, geographic expansion, and optimizing distribution channels to strengthen their market positions and capture a larger share.
- Fragmented Market: Key players like Takeda, AbbVie, and Pfizer are focusing on product innovation, geographic expansion, and optimizing supply chains to enhance competitiveness.
Some of the prominent market players:
- AbbVie Inc.
- Allergan plc
- AstraZeneca plc
- Boehringer Ingelheim International GmbH
- Eisai Co., Ltd.
- GlaxoSmithKline plc
- Johnson & Johnson
- Novartis International AG
- Pfizer Inc.
- Procter & Gamble Co.
- Takeda Pharmaceutical Company Limited
- Other Key Players
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Gastroenterology Market Scope
| Report Highlights | Details |
| Market Size (2023) | USD 38.5 Bn |
| Forecast Value (2032) | USD 66.4 Bn |
| CAGR (2023-2032) | 6.2% |
| The US Market Size (2024) | USD 12.5 Bn |
| Leading Region in terms of Revenue Share | North America |
| Percentage of Revenue Share by Leading Region | 38.6% |
| Historical Data | 2018 - 2023 |
| Forecast Data | 2025 - 2033 |
| Base Year | 2023 |
| Estimate Year | 2024 |
| Segments Covered | By Type, By Route of Administration, By Application, By End User |
| Regional Coverage | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Market Analysis
Crohn's disease is expected to dominate the gastroenterology market, by application, with the largest share in revenue in 2024. It can affect any part of the gastrointestinal tract and manifest through symptoms such as abdominal pain, severe diarrhea, fatigue, and weight loss, among others.
The presented increasing incidence demanded huge effective treatments for the disease, including the usability of biologics & immunosuppressive therapies. The concerns of Crohn's disease continue to determine the leading position of this indication in the active research of new therapies and pharmaceuticals, which is one of the main reasons for its continuing market pre-eminence. Emphasis on personalized medicine and advances in the understanding of pathophysiology will further support the growth of the segment.
Gastroenterology Market Segmentation
By Type
- Branded
- Generics
By Route of Administration
- Injectable
- Oral
- Others
By Application
- Crohn's Disease
- Ulcerative Colitis
- GERD
- IBS
- Others
End User
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
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Drivers
- Increasing Cases of Gastrointestinal Diseases: Rising global prevalence of conditions like gallstones, GERD, IBS, and ulcerative colitis due to poor diets, sedentary lifestyles, and stress.
- Increasing Demand for Pharmaceuticals: The growing need for medications like antacids, proton pump inhibitors, and antibiotics to manage gastrointestinal disorders drives market growth.
Restraints
- High Cost of Endoscopy Devices: Expensive equipment like endoscopes and biopsy tools increase the overall cost of procedures, limiting market growth.
- Stringent Regulatory Frameworks: Complex regulations increase costs for manufacturers and reduce the affordability of endoscopy procedures, particularly in developing regions.
Opportunities
- Advancements in Personalized Medicine: Genomic and biotechnological advancements allow for tailored treatments, improving outcomes and reducing side effects.
- Telemedicine and Digital Health Solutions: The growing use of telemedicine enhances patient access to gastroenterology services, especially in remote areas.
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Regional Analysis
The increasing prevalence of drugs, technological development, lifestyle changes diseases, aging and obese population, along with research and development contributing to increased gastrointestinal which drive North America to dominate the gastroenterology market revenue share which is likely to hold 38.6% revenue share in 2024.
The establishment of key market players, coupled with government initiatives in the region for the prevention and treatment of gastrointestinal disorders, will further support the growth of the market. Increasing usage of advanced gastroenterology devices and equipment in North America, favorable reimbursement policies, and higher per capita health expenditure as compared to other geographical regions thus help in the growth of this market.
By Region
North America
- The U.S.
- Canada
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Recent Developments
- August 2024: Indian gastroenterologists launched the Gastro AI Academy, offering free AI education for GI physicians and surgeons to improve patient care using advanced technology. FUJIFILM India partnered in this initiative.
- April 2024: OMNY Health partnered with leading gastroenterology practices and integrated delivery networks to introduce innovative real-world data solutions, adding over 5,000 GI providers and 10 million patients to its network. OMNY's platform, with data from 380,000 providers and 75 million patients across the U.S., offers insights into patient care, outcomes, and social determinants for large-scale research.
- February 2024: Salvo Health, a virtual care startup focused on gastrointestinal conditions, secured USD 5 million in Seed Prime funding led by City Light Capital and Human Ventures. The funds will be used to expand its services and provider network.
- March 2024: Johnson & Johnson submitted a supplemental Biologics License Application (sBLA) to the FDA, seeking approval for TREMFYA to treat adults with moderate to severe ulcerative colitis (UC).
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