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GASTROENTEROLOGY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Gastroenterology Market, By Drug Type (Biologics/Biosimilars, Antacids, Laxatives, Antidiarrheal Agents, Antiemetics, Antiulcer Agents, Others), By Dosage Form (Oral, Parenteral, Others), By Disease Type (Inflammatory Bowel Diseases (IBD), Crohn\'s Disease, Ulcerative Colitis, Irritable Bowel Syndrome (IBS), Gastroesophageal Reflux Disease, Liver Diseases, Colorectal Cancer, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

  • Published In : Sep 2024
  • Code : CMI7416
  • Pages :140
  • Formats :
      Excel and PDF
  • Industry : Pharmaceutical

Regional Analysis

Gastroenterology Market Regional Insights

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North America has established itself as the dominant region in the global gastroenterology market with an estimated market share of 40.3% in 2024. The region is home to several leading medical device companies with a strong focus on gastroenterology. Companies based in the U.S. such as Boston Scientific, Medtronic and Johnson & Johnson have a major presence globally with their wide gastroenterology product portfolio and strong distribution network within the region as well as internationally.

The region witnesses high adoption of advanced gastroenterology devices and equipment due to favourable reimbursement policies and higher healthcare spending per capita as compared to other regions. Leading medical institutions in the U.S. and Canada are early adopters of new technologies, which helps drive the market for novel gastroenterology products. Furthermore, North America boasts the presence of several contract research organisations which support clinical trials for new devices, drugs and techniques related to gastroenterology.

Asia Pacific region is poised to be the fastest growing market for gastroenterology. Rapid economic growth over the past decade has boosted healthcare infrastructure and expenditure in countries such as China, India and South Korea. Local manufacturers are increasing their R&D efforts to develop affordable devices, catering to the region's needs. Meanwhile, international companies are also aggressively expanding through partnerships with local players to gain access to this lucrative market.

Rising awareness about gastrointestinal diseases and their treatment options can drive the market growth. Aging population and changes in dietary habits have resulted in higher incidences of conditions like gastrointestinal cancers and acid reflux in the Asia Pacific region. This boosts demand for diagnostic and interventional gastroenterology procedures. Furthermore, medical tourism has emerged as an important factor with patients traveling to countries like Thailand and India for affordable treatment of gastrointestinal disorders.

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