Global gastroenterology market projected to reach $53.10 billion by 2031, driven by rising gastrointestinal disorders.

From GlobeNewswire: 2024-11-27 11:10:00

The global gastroenterology market is estimated to reach USD 53.10 billion by 2031, growing at a CAGR of 6.1% from 2024. Rising gastrointestinal disorders are driving market growth, with 350 million people affected annually. Advanced technology like AI in endoscopy is a key trend, supporting early disease detection and market growth.

Manufacturers are focusing on developing advanced video endoscopy systems with HD images and slimmer endoscopes. Integration of AI capabilities in endoscopy is gaining traction, enabling real-time optical diagnosis. The biologics/biosimilars segment is expected to dominate the market, with a focus on treating inflammatory bowel diseases like Crohn’s disease and ulcerative colitis.

The global gastroenterology market is poised to grow at a CAGR of 6.1% from 2024 to 2031. The biologics/biosimilars segment is expected to lead the market, driven by the demand for effective therapies for inflammatory bowel diseases. The oral segment is projected to dominate due to cost-effectiveness and convenience. North America will hold a dominant position, fueled by rising healthcare expenditures and disease prevalence.

Recent developments include the introduction of a Gastro AI Academy in India and a partnership between OMNY Health and community-based gastroenterology practices. The market is segmented by drug type, dosage form, disease type, and distribution channel, with North America, Europe, Asia Pacific, and the rest of the world being key geographies.

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