Asia Pacific Gastrointestinal Drugs Market – Overview
The Asia Gastrointestinal Drugs Market Is Expected To Grow At A CAGR Of 6.1% During The Forecast Period 2017-2023.
Gastrointestinal (GI) diseases affects stomach, large intestine and rectum, small intestine, esophagus, liver, gallbladder and pancreas. The symptoms of GI diseases are heartburn, indigestion, bloating, constipation and many more. According to a report by the World Gastroenterology Organization, 35-40 % of world’s total population is suffering from acute or chronic GI complication. Gastrointestinal diseases has gained a tremendous attention over the last few years. Increasing prevalence of different gastrointestinal diseases and disorders has encouraged many companies for initiating the research & development for innovative and advanced drugs.
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Over the last few years, the prevalence of gastrointestinal diseases has increased in the Asian populations owing to changing lifestyle, and increasing prevalence of infectious diseases. According to some studies published, the incident of ulcerative colitis and Crohn’s disease is increasing continuously in Asia. The highest incidence was mainly reported in Korea, China, Hong Kong and India. The major driving factors for the market rising geriatric population and increasing investment in research & development. Additionally, changing lifestyle and increasing awareness about the availability of the treatment fuel the market growth. On the other hand, the presence of misbranded & spurious drugs, and unavailability of lifelong cure may hinder the market growth over the review period.
According to a recent study report published by the Market Research Future, the Asia Pacific Gastrointestinal Drugs market is expected to gain eminence over the forecast period. The market is forecasted to demonstrate a steady growth by 2023, surpassing its previous growth records in terms of value with a constant CAGR during the anticipated period (2017–2023).
Abbott Laboratories(US), Allergan Plc (US), Bayer AG (Germany), Janssen Biotech Inc. (US), Takeda Pharmaceutical Company Limited (Japan), Eisai Co., Ltd. (Japan), Valeant Pharmaceuticals (US), Sanofi (France), Janssen Biotech (US), GlaxoSmithKline Plc. (UK), Boehringer Ingelheim GmbH (Germany) and others are some of the prominent players at the forefront of competition in the Asia Pacific Gastrointestinal Drugs Market and are profiled in MRFR Analysis.
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Agreements and partnerships for marketing and distribution of the GI drugs is another key activity opted by the competitors. For instance, in March 2016, Allergan enters into licensing agreement with AstraZeneca to obtain worldwide rights to MEDI2070 inflammatory disorder development program. Which will expands Allergan’s Innovative Gastroenterology Pipeline into Inflammatory Bowel Disease.
Furthermore, in July 2015, AstraZeneca announced that it has entered into an agreement with Tillotts Pharma AG (Tillotts), part of the Zeria Group, for the divestment of global rights, outside the US, to Entocort (budesonide), a gastroenterology medicine for patients with mild to moderate Crohn’s disease and ulcerative colitis.
Moreover, in October 2016, Abbott has announce collaborations with Celgene and Agios for diagnostic identification of IDH mutations. Celgene has done an agreement with Abbott to develop and commercialize the diagnostic tests.
Asia Pacific Gastrointestinal Drugs Market – Competitive Analysis
The market for Gastrointestinal Drugs is characterised by the presence of several well-established and small players, the global market of Gastrointestinal Drugs appears to be highly competitive and fragmented. Major players are increasingly expanding their footprint in the emerging nations, making it putting pressure on the regional players, especially in terms of features such as type, product portfolios, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. Asia-Pacific market is market by high intensity of rivalry. There are few large layers and high numbers of small players are operating in the Asia-Pacific market. The market of some of Asian countries such as China, Japan, and South Korea are marked by presence of large number of domestic players.
To capture a reasonable amount of share in this market many major players are entering into various mergers and acquisition activities with small players in GI drugs market to increase their products portfolios and increase their customer base around the globe. For instance, in June 2017, Abbott accepted shareholders amended merger from Alere. Merger will increase the revenue in Abbott’s pharmaceuticals segment. Moreover, in October 2016, Allergan has acquired GI Disease Subsidiary of Rhythm Holding Company, acquisition will expand the innovative gastroenterology segment of Allergen indirectly increasing revenue.
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