The European gastroenterology therapeutics market is in the maturity phase and is highly competitive. Brand recognition and product efficacy drive product acceptance in the market. Downward price pressures caused by cost control measures adopted by European governments and the extensive availability of generics are negatively affecting overall revenue growth. Efficient life cycle management and product innovation will be key to sustaining market expansion.
Frost & Sullivan (pharma.frost.com) finds that the European Gastroenterology Therapeutics Market was valued at $10.64 billion in 2006 and estimates this to reach $11.74 billion in 2013.
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"The gastroenterology therapeutics market in Europe is driven principally by the proton pump inhibitors (PPI) segment," notes Frost & Sullivan Research Analyst John Paul. "Poor lifestyles continue to promote the uptake of gastroenterology therapies, and PPI, with its superior efficacy, will help maintain revenue growth."
PPIs are replacing the less effective Histamine-2 receptor antagonists and antacids as the primary choice for treating gastroesophageal reflux and peptic ulcer diseases. The lack of innovative therapies in the pipeline implies the continued dominance of PPIs in the market.
Price control regulations implemented by European governments are severely affecting the revenues of market participants. Companies are being forced to reduce the price of their branded products to compete in the market, where generics are heavily recommended.
"The existing products in the market have little differentiation and do not cure the cause of the diseases," explains Paul. "Reference pricing policies implemented by governments are exerting downward pressures on the prices of branded PPIs because of the extensive availability of generic equivalents. Producing innovative products to treat the causes of the diseases is the only solution to prevent decreasing revenues."
The inflammatory bowel diseases market is a potential target for incumbent and prospective competitors. Patent protection and the expansion of the patient base through reformulation and approval of existing drugs for untargeted disease segments will be vital in the gastroesophageal reflux and peptic ulcer diseases markets. While anti-inflammatory agents and immunosuppressive agents provide relief for patients with inflammatory diseases, questionable side-effect profiles will stimulate the need for improved therapies.
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