Segmentation by Drug Type {Antibiotics (Metronidazole, Amoxicillin, Moxifloxacin and Others), Dietary Fiber, and Others}; by Route of Administration (Oral, and Intravenous); by Distribution Channel (Online and Offline); and by End-User (Specialty Clinics, Hospitals, Research Centers, and Others) – Global Demand Analysis and Opportunity Outlook 2029
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On the basis of regional analysis, the global diverticulitis drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region.
The market in the North America is anticipated to hold the largest market share over the forecast period on account of rising obese population, and availability of advanced treatment options. Additionally, the growing cases of various gastrointestinal diseases, including diverticulitis, is estimated to boost the market growth. According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), in the United States, about 58% of the individuals above 60 years of age have diverticulosis and about 5% of people with diverticulosis tends to develop diverticulitis. According to another report by the NIDDK, around 200,000 individuals are hospitalized for diverticulitis each year in the United States.
The market in the Asia Pacific is anticipated to grow at the highest CAGR over the forecast period owing to the growing number of patients, rising awareness among the individuals regarding health, availability of new treatment methods, improvement in the standard of living, and rapidly improving health care infrastructure.
The global diverticulitis drugs market is further classified on the basis of region as follows:
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
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In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Growing prevalence of gastrointestinal problems backed by unhealthy diet, lifestyle diseases, and obesity, is the major factor driving the market growth.
Ans: The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2029.
Ans: Lack of awareness about the seriousness of this problem among people is the major factor estimated to hamper the market growth.
Ans: The market in North America will provide the highest growth opportunities for the market during the forecast period on the back of efficient healthcare sector and growing medical R&D activities.
Ans: The major players in the market are Abbott Laboratories, Pfizer Inc., GlaxoSmithKline plc, Ardelyx, Inc., Gilead Sciences, Inc., Trumac Healthcare, Hikma Pharmaceuticals PLC, Takeda Pharmaceutical Company Limited and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by drug type, route of administration, distribution channel, end-user, and by region.
Ans: The hospital segment is anticipated to hold the largest market size during the forecast period on the back of various complications in this disease, which might require immediate attention.
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