” which delivers detailed overview of the global diverticulitis drugs market in terms of market segmentation by drug type, route of administration, distribution channel, end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global diverticulitis drugs market is projected to grow at a significant CAGR during the forecast period, i.e., 2021-2029 owing to the rising prevalence of various digestive and gastrointestinal diseases due to the unhealthy diet and sedentary lifestyle among adults, as well as, elderly individuals. Moreover, increasing initiatives taken by the government to prevent inflammatory bowel diseases, including Crohn’s disease and diverticulitis, and increasing demand for advanced treatment options are anticipated to drive the growth of the market over the forecast period. Moreover, increasing healthcare expenditure and rising awareness among the people regarding healthy lifestyle are estimated to create growth opportunities for the market.
The global diverticulitis drugs market is segmented by end-user into specialty clinics, hospitals, research centers, and others, out of which, the hospitals segment is anticipated to account for the largest market share over the forecast period. This growth can be attributed to the growing patient pool coupled with the serious health complications including abdominal pain, fever, diarrhea, bloating, and others, in patients suffering from diverticulitis.
Regionally, the global diverticulitis drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Among these regions, the market in North America is anticipated to account for the largest market share over the forecast period on the back of increasing old-age population, rising cases of obesity, unhealthy lifestyle followed by the people, and advancements in diverticulitis treatment methods. According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), every year, over 200,000 individuals get hospitalized due to diverticulitis the U.S. This growing prevalence of diverticulitis is estimated to drive the market growth in the region.On the other hand, the market in the Asia Pacific is expected to grow at highest CAGR owing to the large patient pool, availability of new medications options, and improving health care infrastructure in the region.
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Increasing Risk of Chronic Digestive Diseases backed by Sedentary Lifestyle to Propel the Market Growth
According to the data by the World Health Organization (WHO), on an average, between 1-3% of a country’s health care expenditures are attributed to physical inactivity.
Sedentary lifestyle causes the abdomen to slow down the digestion process which leads to inappropriate functioning of the bowel. Moreover, lack of physical exercise leads to various health issues. According to the WHO statistics, around 38 million children under 5 years of age were obese in 2019. On the back of these factors, the demand for diverticulitis drugs is anticipated to increase over the forecast period.
However, lack of awareness and hesitation among the patients regarding diverticulitis and stringent government guidelines for the approval of new drugs, are anticipated to hamper the growth of diverticulitis drugs market.
This report also provides the existing competitive scenario of some of the key players of the global diverticulitis drugs market, which includes company profiling of Emmaus Life Sciences, Inc. (OTCMKTS: EMMA), Synergy Pharma, Abbott Laboratories (NYSE: ABT), GlaxoSmithKline plc (NYSE: GSK), Ardelyx, Inc. (NASDAQ: ARDX), Gilead Sciences, Inc. (NASDAQ: GILD), Trumac Healthcare, Pfizer Inc. (NYSE: PFE), Hikma Pharmaceuticals Plc. (LON: HIK), and Takeda Pharmaceutical Company Ltd. (TYO: 4502). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global diverticulitis drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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