The global Inflammatory Bowel Disease Treatment Market size is expected to reach USD 27.8 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.8% from 2021 to 2028. Increasing awareness about the disease, rise in geriatric population, and favorable initiatives undertaken by regulatory bodies are anticipated to drive the market growth over the forecast period. For instance, in January 2020, the U.S. FDA allowed ABIVAX to conduct a phase 2B clinical trial of ABX464 on U.S. patients living with moderate-to-severe ulcerative colitis.
Increasing adoption of strategies such as new product development and expansion is expected to drive market growth. For instance, in June 2020, Takeda Pharmaceutical received U.S. FDA approval to manufacture Entyvio (vedolizumab) in its U.S.-based manufacturing facility. The approval is expected to support the growing demand for the drug in the U.S. and nearby countries. Moreover, Takeda pharmaceutical is heavily investing in the development of the market in China.
An increase in initiatives undertaken by various organizations to tackle the challenges in the development of novel therapy development is expected to boost the market growth in the coming years. For instance, in May 2019, Crohn’s and Colitis Foundation released a five-year plan to mark unmet needs in IBD research and development and IBD treatment. Moreover, European Chronic Disease Alliance has taken many steps to improve the life of patients living with inflammatory bowel disease.
Implementation of favorable healthcare policies in developed countries is increasing the prescription of novel drugs for the treatment of inflammatory bowel disease. For instance, in September 2017, the Australian Therapeutic Goods Administration listed Stelara on Pharmaceutical Benefits Scheme (PBS) for the treatment of the severe condition of Crohn’s disease in adults. PBS listing of Stelara will increase the prescription of the drug in the country.
The clinical-stage companies involved in the development of innovative treatments for IBD are expected to fuel the market growth. For instance, Germany-based Sterna Biologicals, a clinical-stage company is conducting phase IIb clinical trials for the treatment of ulcerative colitis. Moreover, Galapagos NV, a research-based company is conducting phase 3 clinical trials for its JAK inhibitor, Filgotinib, for the treatment of Crohn’s disease and ulcerative colitis. The product is expected to receive approval for IBD treatment in the next 2 to 3 years.
Regulatory bodies are encouraging the manufacturers to increase research initiatives by introducing programs such as U.S. Orphan Drug Program. For instance, in August 2017, InDex Pharmaceuticals Holding AB’s drug candidate cobitolimod (intended for the treatment of ulcerative colitis) received orphan drug designation by the U.S. FDA. In August 2019, the drug met the primary endpoints of phase 2b clinical studies for the development of ulcerative colitis treatment.
Related Press Release@ Inflammatory Bowel Disease Treatment Market Report
Inflammatory Bowel Disease Treatment Market Report Highlights
- In 2020, Crohn’s disease accounted for the largest revenue share of more than 60.0% and is anticipated to maintain its dominance over the forecast period
- Based on drug class, the TNF inhibitors segment dominated the market in 2020 owing to the high prescription rate of Humira and Remicade globally
- Pipeline candidates in the JAK inhibitors drug class such as upadacitinib, tofacitinib, and filgotinib are anticipated to drive the segment growth at the fastest rate from 2021 to 2028
- The oral drugs segment is anticipated to grow at the fastest rate over the forecast period owing to an increase in approval of pipeline drugs such as upadacitinib, etrasimod, ozanimod, and others
- Asia Pacific is expected to witness the fastest growth in the coming years owing to rising approval of biosimilars and increasing awareness related to the disease
- North America held the largest market owing to the adoption of biologics for IBD treatment and better reimbursement scenarios in the country
