WORLD GASTROENTEROLOGY Market Analysis and Reports | Austria Conference Series

Market Analysis - WORLD GASTROENTEROLOGY 2024

World Gastroenterology-2024 highlights the theme “Advancements in Gastrointestinal Therapeutics-Hepatitis and Liver Disease Management”. It fundamentally focused on the latest technologies and explores the new research with all the sectors of gastroenterology.

Gastroenterology is an ever-advancing branch of internal medicine dealing with multiple ailments and different conditions of the gastrointestinal tract. It’s expanding knowledge and treatment with the advanced technologies adds a greater value in the GI market.

The worldwide transplantation market size was assessed at USD 23.5 billion out of 2022. Developing interest for novel tissue transplantation items and organ transplantation for the treatment of organ disappointment is a main consideration contributing toward development of the market.

Organ disappointment normally happens because of different factors like genuine injury, loss of blood, harming, drug misuse, leukaemia, sepsis, and other intense sicknesses. Interest for tissue and organ transplantation, predominantly kidney, heart, liver, and lungs, is high all around the world. Unfortunate dietary propensities, liquor utilization, absence of activity, and medication misuse are some driving reasons for organ disappointment. In this manner, interest for transplantation items is required to ascend soon.

As per different market reports, the gastrointestinal medications market was esteemed freely develop from the current $19.79 billion out of 2022 at a CAGR of 4.9% to reach $29.01 billion by 2024. The quick development of ulcerative colitis, enteritis, and incendiary on-going sicknesses and related entrails messes has expanded the interest of gastrointestinal medications, particularly; the calming, stomach settling agents, antidiarrheal, diuretics, antiemetic and enemies of nauseates, and antispasmodic, and these medications have seen a four-crease development on the lookout.

The worldwide market for gastrointestinal turmoil therapeutics and diagnostics came to $49.6 billion of every 2015. This market is relied upon to develop from almost $51.8 billion out of 2022 to $63.8 billion of every 2021 at a build yearly development pace of 4.3% from 2022-2021.

According to the exploration report, the worldwide gastrointestinal medications market is expected to be worth US$61.1 billion by 2024. By drug class, corrosive neutralizers fragment not drove previously, but on the other hand is required to stay in the main situation in the coming years.

Gastroenterology Universities in Europe:

• Trinity Collage Dublin, Ireland
• Donetsk Medical University, Ukraine
• Tartu University, Estonia
• College of Helsinki, Finland
• College of Chester, UK
• World Gastroenterology Organization, Austria
• European Association for Gastroenterology, Germany
• Exploration Centre of Gastroenterology and Hepatology, Romania
• European Society of Gastrointestinal Endoscopy, France
• Joined European Gastroenterology, Austria
• College of Gothenburg, Sweden
• Buda Health Centre, Hungary
• College Medical Centre Freiburg, Germany
• College of Camerino, Italy
• Kazan State Medical University, Russia

Gastroenterology Research Centres Europe:

• German Cancer Research Centre
• The Rome Foundation, Rome
• Community for Liver and Gastrointestinal Research
• SLO Foundation for Liver and Gastrointestinal Research, Netherlands

Gastroenterology Hospitals Europe:

• Belgian Society of Gastrointestinal Endoscopy, Belgium
• European Society of Gastrointestinal Endoscopy, Germany
• European culture of Neuro gastroenterology and Motility, Belgium
• German Society for Digestive and Metabolic Diseases, Germany
• Russian Society for Digestive Endoscopy, Russia

Gastrointestinal Therapeutics Market

The gastrointestinal therapeutics market is expected to register a healthy CAGR of nearly 6.5 % during the forecast period (2019 - 2024).

  • The market is majorly driven by the lifestyle changes, leading to gastrointestinal (GI) diseases. According to the National Health Interview Survey (2021), 15.3 million adults were diagnosed with ulcers in the United States.
     
  • Other driving factors include the rising surgical treatments and hospitalizations, due to GI diseases, and increasing R&D investments by biopharmaceutical companies in developing biologics and biosimilars.
  • However, risk factors, such as those related to the physiological, behavioural, psychosocial, and socio-environmental aspects, restrict the populations from reporting the diseases early, which reflects the low awareness and the economic burden.
  • These risk factors and the increasing number of patent expirations restrict the growth of the gastrointestinal therapeutics market.

Inflammatory Ulcerative Colitis Holds Significant Market Share

Inflammatory ulcerative colitis (UC) is often a relapsing and remitting disease. The disease often deals with lifelong treatment therapies. However, the current treatment options have several adverse effects and poor efficacy profiles. Additionally, sometimes, the drug is highly expensive, which makes this segment lucrative for the biopharmaceutical companies. Some of the traditional classes of drugs, including 5-aminosalicylic acid, corticosteroids, and immune-modulating drugs, are helpful for inflammatory bowel disease (IBD). Biologic drugs have also been explored in the past two decades, with several being marketed, which include anti-TNF drugs, immunosuppressive interleukins, and anti-interleukin antibodies. As per Merck & Co. Inc. (2018), although diverse medication facilities exist, one-third of the overall patient population suffering from UC ultimately requires surgery. Takeda Pharmaceuticals, Jassen Pharmaceuticals, and Pfizer are among the major global companies that have established themselves with their products for the treatment of inflammatory ulcerative colitis.

Market Growth of Gastroenterology Research World Wide:

According to geology, the worldwide gastrointestinal medications showcase is required to be driven by North America. Good repayment approaches, and expanding geriatric populace, who are more inclined to gastrointestinal clutters, will drive the area's development amid the estimate time frame from 2016 to 2024. North America held 41% of the market in 2019. Europe has additionally been seeing solid development and is expected to keep being an alluring district for gastrointestinal medications showcase. "The development of biosimilars for treating incendiary inside sicknesses will likewise be a key development driver for the market in Europe," says a TMR expert. Be that as it may, Asia Pacific is evaluated to be the area with greatest open doors for development in the coming years. The developing speculations and financing in the field of life science inquire about and propelled treatments for the treatment of gastrointestinal maladies in creating countries, for example, China and India will fuel the development of the Asia Pacific market.

As per the research report, the global gastrointestinal drugs market is anticipated to be worth US$61.1 billion by 2024 and the global market for gastrointestinal medical devices will reach$18.2 billion in 2018 with nearly 25% of that consumed within gastrointestinal endoscopic devices worldwide by 2020. In addition to outstanding clinical care, GI research is also a priority and scientists currently receive more than $5 million annually in external funding to perform gastrointestinal research.

Market Growth in Canada

Fast-paced modern lifestyles, which increase the stress levels of working consumers, in particular, support the growth in sales of digestive remedies in Canada. According to the Canadian Digestive Health Foundation, digestive disorders affect more than 20 million Canadians each year. The growing rate of obesity in Canada also increases the risk of many digestive disorders, such as gastroesophageal reflux disease (GERD) and stomach ulcers. However, while obesity could lead to more consumers becoming frequent users of digestive remedies, weight loss and healthier diets may reduce the risk of some digestive problems or prevent them from progressing.

According to the report, the North America region is expected to hold the largest share in the global gastrointestinal diseases market. This dominance of North America is attributed to the rising approval of the novel drugs and the growth in the instances of various gastrointestinal diseases. While recent pharmaceutical industry trends in Canada have been challenged with poor market growth and pressures from global competition, there still remains a very viable industry which if aided by stronger industrial sector support can flourish and successfully compete in this new and much more globally competitive business environment. Canada also has an opportunity to be a global leader in certain new growth areas.