Market Analysis - Gastro 2018
Gastroenterology deals not only with the gastrointestinal disorders or infections of the GI tract and accessory organs, but also with the gastrointestinal therapies, drugs, therapeutics, and devices that are used in the diagnosing of the infections and diseases of the GI tract. According to a recent survey, 6 in 10 people globally, suffer from some form of the gastrointestinal disorder at any given point in time. Primarily, the causes of the prevalence of the chronic digestive and related diseases are due to lifestyle changes, lack of exercise, overeating, depression, anxiety, and socio-economic and emotional factors.
According to various market reports, the gastrointestinal drugs market was valued at will grow from the current $19.79 billion in 2016 at a CAGR of 4.9% to reach $29.01 billion by 2024. The rapid growth of ulcerative colitis, enteritis, and inflammatory chronic diseases and related bowel disorders has increased the demand of gastrointestinal drugs, especially; the anti-inflammatory, antacids, antidiarrheals, laxatives, antiemetic and anti-nauseants, and antispasmodic, and these drugs have witnessed a four-fold growth in the market.
The global endoscopy market is at an all-time high due to the preference of minimally invasive surgeries and the awareness of patients towards the low risk of diagnostic imaging. The market was valued at $34.51 billion in 2016 and is expected to grow at a CAGR of 6.1 till 2020 to reach $46.72 Billion and then grow at a CAGR of 6.9% to reach $61 billion by 2024. About 30% of the entire gastroenterology market is teeming with endoscopes and other imaging modalities. Due to the increasing demand for endoscopic procedures in the elderly, the minimally invasive surgeries and non-invasive diagnostic techniques play a crucial factor in decreasing the risk of infections improving the prognosis.
The techniques of endoscopy and noninvasive diagnostic modalities are being implemented in numerous hospitals and are also being introduced in numerous rural hospitals as basic facilities to reduce the risk of infections, especially post-operative infections, and to increase life expectancy. Most of the people due to lack of awareness regarding the types of surgeries and diagnosis, avoid hospitals. The government has taken numerous steps to spread the awareness among people in the developing countries about various health hazards and the effects of neglecting any GI disorders related symptoms.
The global surgery devices market was valued at $8.6 billion in 2016 and at a CAGR of 9.6% is projected to reach $17.5 billion by 2024. Technological developments in the surgical and diagnostic industry has increased the prevalence of minimally invasive surgeries resulting in simpler surgeries, shorter hospital stays, and most importantly, the risk of post-operative infections.
The global pancreatic cancer market is forecasted to grow at a CAGR of 7.6% to reach $3.86 billion by 2025 from the value of $2.17 billion. The global inflammatory bowel diseases (IBD) drugs and therapies market is estimated to grow at a CAGR of 4% to reach $9.9 billion from the current market value of $8.84 billion in 2017. The global hepatitis drugs market is expected to reach USD $93.87 billion by 2024 growing at a CAGR of 15% from the current value of $35.3 billion in 2017.
The total market value of various gastrointestinal disorders drugs as expected in the year 2020 are:
The key organizations and industries in the gastrointestinal diseases market include Allergan, AstraZeneca, Eisai Co., Ltd., Janssen Biotech Inc., Johnson & Johnson Private Limited, Salix Pharmaceuticals, Shire Plc, Takeda Pharmaceutical Company Limited, Valeant Pharmaceuticals Inc.
12th Global Gastroenterologists Meeting is a premier forum for discussions on outlining the forefront research in the field of gastroenterology through the recent technologies and advancements in studying the disorders and diseases in the GI tract which helps in understanding the progression, treatment, and prognosis of various digestive diseases and organs involved in the gastrointestinal tract and accessory organs.
The organizing secretariat team organizing Gastro 2018 Meet understands the importance of conferences and networking and also that one learns through the experiences gained through participation in various social, academic, and mutual meetings, and so we are focused on the social networking through discussions of participants in the conference halls.