Report Overview

The South Korea gastrointestinal therapeutics market size stood at around USD xx million in 2019 and is projected to reach xx million by 2028, exhibiting a CAGR of around 4.8% during the forecast period.

Gastrointestinal (GI) diseases affects stomach, large intestine and rectum, small intestine, oesophagus, liver, gallbladder, and pancreas.GI diseases causes a heavy socioeconomic burden with high morbidity of functional GI disorders in outpatients care and high mortality of GI malignancy in inpatient care. Stomach cancer continues to be the leading cause of GI-related death in Korea. According to World Cancer Research Funds annual ranking of the top 20 countries with the highest incidence of stomach cancer, Korea (42 per 100,000) ranks first.



Market Drivers

Gastrointestinal (GI) diseases, in particular are becoming common and have been linked to dietary being westernized, and irregular lifestyle habits such as alcohol consumption and eating late. Continuous increase in incidence and prevalence of diseases like inflammatory bowel disorder and stomach cancer in Korea are driving the market growth. A wide range of drugs is already available in the market. Furthermore, continuous efforts are being made to develop new biosimilars and new technologies to improve the existing market. Factors like low awareness and delay in diagnostics might negatively impact the growth of the market.