Market Outlook
The Americas gastrointestinal drugs market is poised to reach a stellar size of USD 53.9 Bn by 2023. It can exhibit a CAGR of 5% from 2017 to 2023 (forecast period). The market is anticipated to gain high dividends from over-the-counter (OTC) drugs as well as high incidence of GI diseases. Large number of patients being diagnosed with GI in healthcare settings combined with change in diets due to deviating lifestyles pursued by patients can drive the market demand over the forecast period.
Studies conducted by private firms in collaboration with universities or research groups have placed ranitdine, omeprazole, and sodium alginate as highly recommended drugs for treating GI disorders with minimum adverse effects. Prescription of histamine blockers or proton inhibitors for treating symptoms of heartburn can augur favorably for the market.
Rising awareness levels of GI and its associated disorders, accessibility to these drugs, and a notable rise in research and development activities are other major drivers expected to facilitiate market growth. Need for novel medications for the treatment of the malady can provide an abundance of growth opportunities to players.
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Regional Analysis
North America and South America are regions taken into consideration in the compilation of the Americas gastrointestinal drugs market report.
The North America region is expected to remain dominant due to the large numbers of the elderly and increasing cases of GI diseases. Hectic lifestyles and changes in dietary patterns among patients in the region are major drivers of the market. Prevalence of chronic diseases which can cause GI diseases as a side-effect combined with supportive healthcare insurance policies which cover drug reimbursement can bolster the Americas gastrointestinal drugs market revenue till 2023. Rapid approvals by federal agencies as well as expansion of the product pipeline can work in favor of the Americas gastrointestinal drugs market.
Competitive Analysis
Major industry participants in the global whiskey market include Takeda Pharmaceutical Company Limited, Valeant Pharmaceuticals, Eisai Co., Ltd., Abbott Laboratories, AbbVie Inc., Allergan Plc, Janssen Biotech Inc., Bayer AG, Evoke Pharma, Sanofi, Boehringer Ingelheim GmbH, GlaxoSmithKline Plc., AstraZeneca, and others.
Partnerships, agreements, collaborations, and mergers & acquisitions are major strategies employed by these players to gain their edge in the market. Recently, AstraZeneca plc entered an agreement with Tillots Pharma for the development of Encort. Encort is a medicine for alleviating the pain levels of patients with Crohn's disease. The agreement will allow Tillots to distribute the medicine by paying a considerable share to AstraZeneca for development and production of Encort capsules outside the U.S.
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Industry News
Diroximel Fumarate, a novel iteration of fumarate, has showcased positive effects when tested in the clinical trial of patients with relapsing-remitting multiple sclerosis (RRMS). The study, a collaboration between Biogen Inc and Alkermes plc, has low adverse effects as compared to dimethyl fumarate.
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