PUBLISHER: The Insight Partners | PRODUCT CODE: 1819736
PUBLISHER: The Insight Partners | PRODUCT CODE: 1819736
The European gastrointestinal drugs market is projected to grow significantly, reaching approximately USD 34,299.35 million by 2031, up from USD 19,650.29 million in 2023. This growth represents a compound annual growth rate (CAGR) of 7.2% from 2023 to 2031.
Executive Summary and Market Analysis
The market for gastrointestinal drugs in Europe is divided into several key regions, including Germany, the UK, France, Italy, Spain, and the Rest of Europe. The anticipated growth in this market is primarily driven by the increasing prevalence of gastrointestinal disorders such as inflammatory bowel disease (IBD) and irritable bowel syndrome (IBS). Additionally, there is a notable rise in research and development activities, which is fostering the creation of advanced therapeutic options for various gastrointestinal conditions.
Market Segmentation Analysis
The analysis of the European gastrointestinal drugs market reveals several important segments, including drug class, application, route of administration, and distribution channel.
Market Outlook
Gastrointestinal diseases encompass a range of conditions affecting the gastrointestinal tract, including common issues like heartburn, IBD, IBS, gastroenteritis, gastroesophageal reflux disease (GERD), constipation, and diarrhea. These conditions are prevalent chronic inflammatory disorders that impact a significant portion of the global population. Factors contributing to the rise in gastrointestinal diseases include sedentary lifestyles, changing dietary habits, and increased stress levels. As the population ages, the burden of these diseases is expected to escalate.
A recent study titled "Gastroesophageal Reflux Disease," published in July 2023, highlighted that GERD is one of the most commonly diagnosed gastrointestinal conditions, affecting around 20% of the population. This condition not only imposes a substantial economic burden through direct and indirect costs but also significantly affects individuals' quality of life.
The increasing incidence of chronic digestive diseases in Europe is further exacerbated by an aging population and lifestyle factors, including rising obesity rates and high alcohol consumption. According to the European Federation of Crohn's & Ulcerative Colitis Associations, approximately 10 million individuals worldwide suffer from IBD. Research from Crohn's & Colitis UK in 2022 indicated that 1 in every 123 people in the UK is diagnosed with either Crohn's disease or ulcerative colitis, totaling around half a million individuals.
Moreover, the prevalence of IBS has surged in recent decades. The International Foundation for Gastrointestinal Disorders reports that IBS is the most common functional gastrointestinal disorder, affecting 10-15% of the global population. A study from the University of Gothenburg found that four out of ten adults worldwide experience varying degrees of functional gastrointestinal disorders, with the US seeing approximately 2.4 to 3.5 million hospital visits for IBS each year. This rising prevalence of gastrointestinal diseases is driving the demand for effective treatments, thereby propelling the growth of the gastrointestinal drugs market.
Country Insights
The European gastrointestinal drugs market is further analyzed by country, with Germany leading the market share in 2023. Germany's market is particularly attractive due to the increasing rates of gastrointestinal infections and disorders. According to a 2023 article from Deutsches Arzteblatt, the prevalence of IBD is rapidly rising, affecting about 0.7% of the German population, or approximately 600,000 patients. Additionally, gastrointestinal infections account for around 24.5 million outpatient visits annually in Germany.
The development of effective treatment options by various pharmaceutical companies, along with a growing elderly population susceptible to gastrointestinal issues, is expected to drive market growth in Germany. For instance, in October 2021, Renexxion Ireland Ltd. partnered with Dr. Falk Pharma GmbH to develop and commercialize Naronapride, a novel GI prokinetic for gastroparesis. Germany's status as Europe's largest pharmaceutical market, with a production volume of USD 38.03 billion in 2021 and a robust investment in research and development, further supports the growth of the gastrointestinal drugs market in the region.
Company Profiles
Key players in the European gastrointestinal drugs market include Sanofi SA, GSK Plc, Johnson & Johnson, Bausch Health Companies Inc, AstraZeneca Plc, Takeda Pharmaceutical Co Ltd, AbbVie Inc, Bayer AG, and Pfizer Inc. These companies are employing various strategies, including expansion, product innovation, and mergers and acquisitions, to enhance their market presence and offer innovative solutions to consumers.