Gastroenterology Market Trends

Gastroenterology Market Drivers

• Rising incidence of gastrointestinal diseases: Globally, the prevalence of gastrointestinal conditions such gallstones, ulcerative colitis, fissure, hemorrhoids, irritable bowel syndrome (IBS), and gastroesophageal reflux disease (GERD) has dramatically grown. The main causes of the rising prevalence of chronic and acute gastrointestinal illnesses are poor diet, a sedentary lifestyle, stress, food sensitivity, and bacterial or viral infections. Numerous drugs, such as antacids, histamine H2-receptor antagonists, laxatives, proton pump inhibitors, and antibiotics, are increasingly in demand to treat various gastrointestinal disorders and prevent subsequent medical consequences related to the diseases. This is driving up the demand for different classes or types of pharmaceuticals to treat gastrointestinal ailments, which is driving up the growth of the global market for therapeutics for gastrointestinal diseases.

Gastroenterology Market Restraints

• During the forecast period, the market for gastroenterology is projected to face significant obstacles due to the high cost of treatments. Different gastrointestinal illnesses are treated with biologics and small compounds. Chronic IBS include conditions like Crohn's disease and ulcerative colitis, which need ongoing care to reduce the risk of recurrence and cancer development. The cost of medications, doctor visits, and hospital stays make up the majority of the total cost of therapy for gastrointestinal illnesses. Numerous chronic gastrointestinal illnesses are treated with the intravenous administration of biologic medications like infliximab and vedolizumab. Infliximab (Remicade, Johnson & Johnson) often costs between $6,000 and $6,500, while vedolizumab (Entyvio, Takeda Pharmaceutical) typically costs between $8,500 and $8,700 per prescription. Biologics used to treat IBD often cost between $2,500 and $5,500 per month on average. The expansion of the global market for gastroenterology is predicted to be somewhat constrained by rising out-of-pocket costs related to medications and procedures for gastrointestinal diseases.