Release--Gastrointestinal therapeutics market to decline from $6.8 billion in 2012 to $6.6 billion by 2019
Gastrointestinal therapeutics market to decline from $6.8 billion in 2012 to $6.6 billion by 2019
FOR IMMEDIATE RELEASE
Gastrointestinal therapeutics market to decline from $6.8 billion in 2012 to $6.6 billion by 2019
Humira and Remicade’s patent expiries will hurt the overall market value, says analyst
Gastrointestinal Therapeutics Industry: Promising Drugs in Late-Stage Development Could Stabilize Declining Global Market, says GBI Research
NEW YORK (GBI Research), 15 January 2014
The gastrointestinal (GI) therapeutics market for irritable bowel syndrome (IBS), ulcerative colitis (UC), and Crohn’s disease (CD) in the eight major markets (8MM) — the US, UK, France, Germany, Italy, Spain, Canada and Japan — is expected to decrease in value from $6.8 billion in 2012 to $6.6 billion by 2019, at a negative Compound Annual Growth Rate (CAGR) of 0.3%, forecasts business intelligence provider GBI Research.
According to the firm’s latest report*, the GI market will register different CAGRs across the 8MM during the forecast period. The US and Japan will witness positive CAGRs of 0.2% and 4%, respectively, while the European markets will decline at a negative CAGR of 2.5%. This unfavourable growth is due to the upcoming patent expiry of various major drugs.
Arti Singh, Analyst for GBI Research, says: “As Humira and Remicade account for a substantial share of the GI therapeutics industry, their patent expiries will harm the overall market value. The entry of generics and biosimilars will also have a strong impact on sales.”
However, promising pipeline drugs in the late stages of development could stabilize the current market.
Singh continues: “Three molecules in the pre-registration stage of development are expected to be approved during the forecast period. Of these molecules, one — vedolizumab — is indicated for the treatment of both UC and CD. The second molecule is a biosimilar of blockbuster drug Remicade (infliximab) and is expected to be launched following Remicade’s patent expiry.”
Additionally, almost 51% of the overall GI pipeline is in Phase II and Phase III development, of which 19 molecules are indicated for the treatment of IBS, 48 for UC and 41 for CD.
“The major factors currently stabilizing the market include the increasing prevalence of GI diseases, growing awareness of the importance of detecting these diseases early and the availability of effective diagnostics,” the analyst concludes.
*Gastrointestinal Therapeutics in Major Developed Markets to 2019 - New Drug Approvals and Promising Pipeline to Counter Declines from Patent Expiries
Empowering Sites and Patients: The Impact of Personalized Support in Clinical Trials
November 26th 2024To meet the growing demands of clinical research, sponsors must prioritize comprehensive support models, such as clinical site ambassadors and patient journey coordinators, who can address operational challenges and improve site relationships, patient satisfaction, and overall trial efficiency.
Driving Diversity with the Integrated Research Model
October 16th 2024Ashley Moultrie, CCRP, senior director, DEI & community engagement, Javara discusses current trends and challenges with achieving greater diversity in clinical trials, how integrated research organizations are bringing care directly to patients, and more.
FDA Finalizes Decentralized Clinical Trial Guidance
November 25th 2024The FDA's guidance is part of a broader effort to modernize clinical trials, improve efficiency, reduce participant burden, and expand access, particularly for underrepresented populations and those in geographically or economically constrained areas.
AI in Clinical Trials: A Long, But Promising Road Ahead
May 29th 2024Stephen Pyke, chief clinical data and digital officer, Parexel, discusses how AI can be used in clinical trials to streamline operational processes, the importance of collaboration and data sharing in advancing the use of technology, and more.
