Gastroenterology Market Size, Share, Growth Analysis, By Drug Type(Antacids, Laxatives, Antidiarrheal agents, Antiemetics), By Dosage Form(Oral, Parenteral, Other Dosage Forms), By Application(Ulcerative Colitis, Irritable Bowel Syndrome, Crohn's Disease, Celiac Disease), By Region - Industry Forecast 2024-2031

Global Gastroenterology Market size was valued at USD 32.58 billion in 2022 and is poised to grow from USD 34.53 billion in 2023 to USD 55.04 billion by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).

The market for gastroenterology is expanding primarily due to the rising prevalence of gastrointestinal diseases. Other significant reasons driving the growth of the gastroenterology market are the rising incidence of gastrointestinal disorders brought on by poor dietary practices, the expansion of clinical studies with reliable findings, rising healthcare costs, and the rise in the elderly population.

There is a large variety of new generation treatments that are available, including cellular therapy and inventive small compounds. Hospitalizations and surgical procedures for GI disorders are on the rise, and biopharmaceutical companies are investing more in R&D to create biologics and biosimilars. According to the National Clinical Trials (NCT) registry, there were around 6,443 ongoing clinical trials for gastrointestinal illnesses at various stages of development as of May 2021. Over the projection period, new chances for efficient medicines may be created by the successful findings of these investigations.

US Gastroenterology Market is poised to grow at a sustainable CAGR for the next forecast year.