Albany, NY -- (SBWIRE) -- 02/20/2020 -- A report by Transparency Market Research states that the global gastrointestinal drugs market is expected to witness a robust growth during the tenure of 2016 to 2024. According to the report, the growth of the market is the result of increasing number of patients suffering from stomach and intestine infections in past few years. "During the tenure of 2016 to 2024, the market is projected to witness 4.9% CAGR and is also expected to reach to the value of US$ 61.6 bn by the end of forecast period." This implies that the market has a huge growth potential for the players and their businesses, says the report.

Antacids Segment to Dominate the Market

The global gastrointestinal drugs market is categorized on the basis of type, mode of injection, and end user. Among these the type category is dominated by the antacids segment. The growth of the segment is the result of growing demands for the drugs due to unhealthy imbalance eating habits of the people across the globe. Moreover, the ease of availability of these drugs is also a major factor that is boosting the dominance of the segment in the global gastrointestinal drugs market from 2016 to 2024.

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"The global gastrointestinal drugs market stood at US$ 45.5 bn in 2015 –TMR Report."

New Players Might Face Tough Challenge

Currently the global gastrointestinal drugs market is highly competitive and fragmented. This is because the market is already flooded with several prominent players that controls the dynamics of the market. This scenario poses a difficult challenge for the new players in their establishment in the global gastrointestinal drugs market from 2016 to 2024.

To overcome this challenge, the new players are indulging in strategic mergers and collaborations. These strategies allow the new players to get access to essential resources that can help them get established in the global gastrointestinal drugs market from 2016 to 2024.

On the other hand, the established players are acquiring new businesses to enhance their production capacity, distribution channel, and customer pool. This as a result, is allowing the businesses to gain a competitive edge over their rival and also helps them to stand ahead of the curve in the global gastrointestinal drugs market during the estimated time-frame of 2016 to 2024. Moreover, the players are also investing in research and development. This allows the businesses to introduce new products, which consequently helps them to strengthen their position in the global gastrointestinal drugs market during the duration.

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North America Leads the Geographic Segment

On the basis of geography, the global gastrointestinal drugs market is dominated by North America. Factors such as growing number of pharmaceutical companies and demand for generic drugs in countries like the U.S. and Canada are propelling the prominence of the region in the global gastrointestinal drugs market from 2016 to 2024.