Gastrointestinal Therapeutics and Diagnostics Market

Global Gastrointestinal Therapeutics and Diagnostics Market Size (2024 to 2029)

The Gastrointestinal Therapeutics and Diagnostics Market size was at USD 85.9 billion in 2024 and is expected to reach USD 121.7 billion by the end of 2029, registering a CAGR of 7.4% during the forecast period 2024-2029.

Current Scenario of the Global Gastrointestinal Therapeutics and Diagnostics Market

Gastrointestinal Therapeutics and Diagnostics is a process used to diagnose or treat a variety of gastrointestinal disorders. These devices are specified to support patients with advanced treatment procedures who are suffering from various clinical symptoms of heartburn, nausea, vomiting, and others. The research and development activities are progressing at a higher rate, that is, to stimulate the challenges conquered with the traditional treatment methods. Recent studies reveal that there is a high need to focus on the diagnosis of several diseases like colorectal cancer, alcohol-associated liver disease, and non-alcoholic fatty diseases. The rising number of people suffering from these diseases is eventually raising the need to launch various diagnostic procedures for gastrointestinal disorders across the world.

MARKET DRIVERS

The adoption of the sedentary lifestyle and prominence for processed or unhealthy food products are substantially leveling up the growth rate of the market.

There are high chances of getting diagnosed with various gastrointestinal disorders due to eating unhealthy food items. In modern days, people are more likely to eat ready-to-eat or processed food products due to a lack of time to cook fresh meals at home, which substantially leverages the number of people getting diagnosed with these disorders. The growing popularity of the availability of various treatment procedures is solely to leverage the growth rate of the gastrointestinal therapeutics and diagnostics market. 

The increasing prominence for regular checkups to stay healthy and get diagnosed at early stages for better cures, especially in developed and emerging countries, is attributed to surging the market's growth rate. People are more likely to get diagnosis procedures at regular intervals, which will result in higher chances for better treatment options. For instance, colorectal cancer is one of the most common cancers in the US, and 1,50,000 people are suffering from this disease at present. According to the Colorectal Cancer Alliance, more than 50,000 Americans are in the last stage of colorectal cancer and are soon to take their last breath this year. The last stage of cancer has no survival rate, but once the disease is diagnosed at early stages, there is a high chance for the patient to live a normal life after proper therapeutics are available. Therefore, the importance of gastrointestinal therapeutics and diagnostics procedures is gradually increasing, promoting the market's growth rate.

There are numerous research and development activities are going on in the popular countries like US, India, China, and others where the support to introduce innovative therapeutic and diagnostic procedures is very high from both government and non-government organizations is esteemed to promote the growth rate of the market.

Quick adoption of advanced technologies in the healthcare industry will eventually level up the growth rate of the market.

The growing potential to improve the healthcare infrastructure by launching innovative techniques to treat chronic illnesses is greatly influencing the growth rate of the market positively. Government initiatives to provide health subsidies to poor people in many countries are all set to create huge growth opportunities for the market during the forecast period. In emerging countries like India, China, and others, the government is greatly supporting the poor people through various policies for health checkups and treatment expenses. These policies can help poor people get high-quality treatment, which will eventually create a positive growth rate in the gastrointestinal therapeutics and diagnostics market.

MARKET RESTRAINTS

Lack of clear knowledge of the availability of treatment procedures, especially in remote areas, is restraining the growth rate of the gastrointestinal and diagnostics market.

In remote areas, people are unaware of the available treatment options for many of the diseases, which is raising the mortality rate. This factor is sustained to limit the huge growth rate of the market. However, rising prominence in raising awareness among people in remote areas through various communication channels and campaigns is expected to merely raise the market's growth rate in the coming years.

The cost of the equipment is very high where small scale companies could not afford for installation and maintenance. Due to this high cost of equipment, the overall therapeutics and diagnostics procedures are also very high which is ascribed to degrade the growth rate of the gastrointestinal therapeutics and diagnostics market. Few people suffer from minor side effects due to treatment procedures that pose challenges for the gastrointestinal therapeutics and diagnostics market players. Stringent rules and regulations by government bodies for the approval of the new procedures are also limiting the market's growth rate. To offer the best treatment and diagnostic procedures for the people, government authorities cleanly scrutinize the newly developed procedure to approve it with respect to public safety.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Gastrointestinal Therapeutics and Diagnostics Market Analysis By Test Type

The endoscopy segment is ruling with the dominant share of the gastrointestinal therapeutics and diagnostics market. Endoscopy is one of the finest and most effective procedures to diagnose gastrointestinal disorders. This surgery is minimally invasive and can be performed under the supervision of skilled professionals to diagnose the disease accurately. The launch of new technological procedures in testing has added fuel to the growth rate of the market in the past few years. The blood test segment is set to have the fastest growth rate during the forecast period. A blood test is a basic step to diagnose any digestive disorder. The diagnosis test type can detect the disease accurately, and doctors can take the necessary steps.

Global Gastrointestinal Therapeutics and Diagnostics Market Analysis By Technology

The PCR technology segment is leading with the largest share of the market. Acute diarrheal illnesses are becoming quite common across the world. Advanced PCR technology helps detect underlying acute infections in the stomach, small intestine, or large intestine. Though the risk of death is very low, the demand for significant treatment or diagnostic procedures is very important for the disease to be cured. According to the Centers for Disease Control and Prevention (CDC), more than 350 million people are diagnosed with acute gastroenteritis every year, which is a sign of the necessary measures to provide proper treatment procedures with accurate diagnostic steps. ELISA segment is likely to have a prominent growth rate during the forecast period.

Global Gastrointestinal Therapeutics and Diagnostics Market Analysis By Application

The infection segment is gearing up to hold the largest share of the gastrointestinal therapeutics and diagnostics market. The rising incidences of various infections due to various aspects across the world are substantially leveraging the growth rate of the gastrointestinal therapeutics and diagnostics market. The inflammatory bowel disease segment has been gaining huge traction over the growth rate of the market in the past few years. The rising prevalence of cancer disease among middle-aged people is anticipated to showcase the need for the gastrointestinal and diagnostics market.

Global Gastrointestinal Therapeutics and Diagnostics Market Analysis By Test Location

The point-of-care segment had a prominent share of the gastrointestinal therapeutics and diagnostics market in 2023, and the dominating trend of the POC segment is likely to continue throughout the forecast period. Increasing expenditure on healthcare and rising knowledge of diagnostic procedures in urban cities will eventually increase the market's share during the forecast period.

REGIONAL ANALYSIS

North America accounted for the highest share of the global market in 2023.

North America witnessed the highest share in the past few years and will continue the same during the forecast period. The US and Canada are well-developed countries and showcase highly developed healthcare infrastructure with the presence of the top companies. Government support through investments in R&D activities is highlighting the growth rate of the US market. Also, the growing number of patients seeking attention over quality healthcare and various treatment options is anticipated to surge the market's growth rate in North America.

Asia Pacific is likely to hit the highest CAGR in the coming future.

The rapidly increasing geriatric population in India and China is a key factor for the market's growth in this region. The prevalence of acute infections and other gastrointestinal disorders is quite common among elderly people, where proper diagnosis and treatment are highly required. This factor can enhance the growth rate of the gastrointestinal therapeutics and diagnostics market.

Europe is predicted to showcase a prominent growth rate during the forecast period.

European countries are hubs for high-quality treatment procedures. Government support through insurance policies for people and highly developed healthcare infrastructure ensures the fastest growth rate for the gastrointestinal therapeutics and diagnostics market. 

KEY PLAYERS IN THE GLOBAL GASTROINTESTINAL THERAPEUTICS AND DIAGNOSTICS MARKET BIOMERIEU

Companies playing a prominent role in the global medical cannabis market profiled in this report are F. Hoffmann-La Roche Ltd., Abbott, Beckman Coulter, Inc., Dia Sorin S.p.A,Siemens Healthineers AG,QIAGEN, Meridian Bioscience, Hologic, Inc.

DETAILED SEGMENTATION OF THE GLOBAL GASTROINTESTINAL THERAPEUTICS AND DIAGNOSTICS MARKET INCLUDED IN THIS REPORT.

This research report on the global medical cannabis market has been segmented and sub-segmented based on By Test Type, Technology, Application, Test Location, & Region.

By Test Type

• Endoscopy
• Blood test
• H. pylori test
• Calprotectin test
• Immunoglobulin A test
• Others

By Application

• • Infection
  • Inflammatory Bowel Disease
  • Gastroesophageal Reflux Disease (GERD)
  • Cancer
  • Others

By Test Location

• • Central laboratories
  • Point-of-Care

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa