South & Central America Gastrointestinal Drugs Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Drug Class (Acid Neutralizers, Antidiarrheal and Laxatives, Anti-Inflammatory Drugs, Antiemetic and Antinauseants, Biologics, and Others); Route of Administration (Oral, and Parenteral); Application (Inflammatory Ulcerative Colitis, Crohn's Disease, Irritable Bowel Syndrome, Gastroenteritis, Celiac Disease, and Others); and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and Country
The South and Central America gastrointestinal drugs market is expected to reach US$ 5,632.72 million by 2027 from US$ 4,160.28 million in 2019; it is expected to grow at a CAGR of 4.0% from 2020 to 2027. Rising prevalence of gastrointestinal (GI) diseases and increase in development of biologics are expected to boost the growth of the market. However, factors such as low awareness associated with gastrointestinal disorders in low-income economies are likely to restrain the growth of the market. Additionally, increasing investment in research activities coupled with growing pipeline of GI candidates and emergence of biosimilars are likely to fuel the growth of the gastrointestinal drugs market during the forecast period.
Gastrointestinal disorders are medical conditions related to the digestive system that affect the colon, small and large intestine, and rectum. The disorders include constipation, irritable bowel, ulcerative colitis (UC), and peptic ulcer diseases. These disorders are characterized by various symptoms such as pain, bloating, diarrhea, nausea, and vomiting. These disorders constitute a large proportion of outpatients and frequent hospital visits. A wide range of GI drugs is commercially available in the market for the treatment of various conditions. Additionally, rising investments in the development of biologics and emergence of biosimilars are expected to drive the market during the forecast period.
Gastrointestinal diseases are becoming prevalent. Rapidly progressing research activities in drug development of novel therapeutics are driving the market. Many research institutes are offering funding to accelerate the discovery of novel methods for the treatment of GI disorders, which is offering lucrative opportunities for the market. The major research areas are understanding mechanisms responsible for pancreatic inflammation and pancreatitis genetics and immunobiology of inflammatory bowel disease.
Moreover, the pharmaceutical industry is continually evolving. There is always a need for new, innovative therapeutic approaches in the treatment of various GI indications. The GI candidates-based pipeline is growing for a wide range of therapeutic applications, including Crohn's disease, ulcerative colitis, and inflammatory bowel disease. Many big and small pharmaceutical companies are engaged in the development of several GI biologics drugs. Thus, growing innovative pipeline of GI drugs is, in turn, boosting the drug discovery activities across the industry.
South and Central America is hit by the COVID-19 outbreak, resulting in profound humanitarian, economic, and political consequences. Countries in the region have responded to the situation by closing borders and imposing a host of restrictions to keep people confined at home. Brazilian Health Regulatory Agency has approved RedHill Biopharma Ltd. to conduct clinical trials for its drug for COVID-19.
In 2019, the acid neutralizers segment accounted for the highest share of the market. However, the biologics segment is expected to be the fastest-growing segment during the forecast period. The biologics segment is anticipated to register the highest CAGR during the forecast period. The growth of the segment is attributed to growing product development and increasing product launches in the market.
A few of the major secondary sources associated with the South and Central America gastrointestinal drugs market report are World Health Organization, InterAmerican Heart Foundation, Brazilian Health Regulatory Agency, and International Foundation for Gastrointestinal Disorders.
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