Market Analysis, Res Rep Gastroenterol Vol: 3 Issue: 1
Global Conference on Gastroenterology
Professor, Department of Surgery, University of Minnesota, United States, E-mail: [email protected]
Market Analysis on Gastroenterology
Gastrointestinal medicine which includes Laxatives, antiemetic drug and Antinauseants, medicinal drug medicine, Biologics, and Antispasmodic; Route of Administration - Oral, canal and Rectal, Inflammatory gut unwellness, and Irritable gut Syndrome; Marketing Pharmacies - international business Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2025.
Gastroenterology Market – Pipeline Clinical Trials
To access the growth patterns of the different markets under the gastroenterology industry, Technavio closely monitors the developments in clinical trials and the latest developments taking place within the gastroenterology market. Further, to predict the changes taking place within gastroenterology industry reports trials colon cancer, colorectal cancer, gastric cancer, and liver diseases.
Gastroenterology clinical trials cover all compound types varying from small molecules to biologics and biosimilars along with vaccines. These reports classify all clinical trial submissions bases on biosimilars and molecular entity. Further, our gastroenterologists ensure that our reports cover all phases of development.
Gastrointestinal Therapeutics Market Analysis:
This Report is based on By Type (Branded, Generics), By Route of Administration, By Application (Ulcerative Colitis, Crohn’s Disease, GERD), By Distribution Channel, And Segment Forecasts, 2018 – 2025.
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. According to the Centers for Disease Control and Prevention (CDC), it is estimated that approximately 1-1.3 million people are suffering from Inflammatory Bowel Disease (IBD) in U.S.
Prevalence of Crohn’s disease and ulcerative colitis is 201 per 100,000 adults and 238 per 100,000 adults, respectively.
Distribution Channel Insights
In 2016, retail pharmacy accounted for the dominant share in terms of distribution channel owing to high affordability and accessibility to retail stores. As number of prescription medicines being reimbursed is increasing, it is encouraging patients to purchase medicines from retail pharmacies. Retail pharmacists also recommend drug substitutes that prevent adverse drug interactions.
These factors are likely to boost customer inclination toward retail stores. In case retail pharmacists have any concerns regarding prescribed medicines, they recommend alternatives for the same, thus ensuring higher safety. Advent of pharmacy chains such as CVS Health is a major contributor to the share of the retail segment. Adoption of digitalized systems in retail pharmacies to reduce risk of errors in prescriptions is also anticipated to fuel growth over the coming years.