Lewes, DE -- (ReleaseWire) -- 02/12/2014 -- The gastrointestinal (GI) therapeutics market for Irritable Bowel Syndrome (IBS), Ulcerative Colitis (UC) and Crohn’s Disease (CD) in the Asia-Pacific (APAC) region will increase in value from $564m in 2012 to $784m by 2019, at a Compound Annual Growth Rate (CAGR) of 4.8%.
The latest report states that in the APAC region, comprising Australia, India, China and Japan, India will experience the fastest growth during the forecast period, with a higher CAGR of 7.7%. This will be followed by the Chinese market, which is expected to achieve a CAGR of 6.4%.
This increase will occur at a time when the global GI market value is anticipated to decline from $6.8 billion in 2012 to $6.6 billion by 2019, at a negative CAGR of 0.3%, due to major patent expiries.
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Lead analyst of this report, says: “As the most populated countries in the world, China and India account for a large usage of these drugs. Indeed, one of the major reasons behind the market growth in these locations, besides upcoming product launches, is a high number of patients, which will ultimately boost the size of the overall region’s GI market.”
However, any further revenue increase will be hindered by various barriers, including low diagnosis rates, the patent expiry of major marketed drugs, such as Humira, and reduced prescription of branded medicine.
Analyst continues: “In the APAC region, especially in China, most of the GI market consists of herbal and other traditional Chinese medicines, resulting in very low market penetration for branded medicines.
“There is also limited uptake of branded drugs in India, thanks to large prescriptions of generics, branded generics and herbal treatments instead, which will impede the region’s GI market ability to achieve greater sales by 2019,” the analyst concludes.
Report Link: Gastrointestinal Therapeutics in Asia-Pacific Markets to 2019 - Strong Potential for Pipeline Biologics on Account of High Regional Unmet Need
This report provides an in-depth analysis of the therapeutic indications of gastrointestinal disorders, namely Irritable Bowel Syndrome (IBS), Ulcerative Colitis (UC) and Crohn’s Disease (CD), in the Asia-Pacific markets of India, China, Japan and Australia. It provides an estimation of market size for 2012, along with market forecasts until 2019.?
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