The inflammatory bowel disease treatment market is likely to grow at a 2.5% CAGR between 2018- 2023, according to the new report by Market Research Future (MRFR). Inflammatory bowel disease or IBD is caused when the immune system attacks harmless bacteria, virus, or foods in the intestine. The IBD treated helps reduce the inflammation, which triggers the signs and symptoms.
Various factors are propelling the global inflammatory bowel disease treatment market growth. According to the new MRFR report, such factors include burgeoning popularity of probiotic and prebiotic foods, rising number of drugs in clinical trials, growing cases of depression and anxiety, initiatives by the government for R&D on the discovery of novel drugs, advancements in medical technology, and rising patient pool.
On the contrary, strict drug regulatory policies, unsatisfactory effectiveness of treatments, the effect of the COVID-19 pandemic, and high capital investment needed for drug discovery are factors that may limit the global inflammatory bowel disease treatment market growth over the forecast period.
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Key Players
Key players profiled in the global inflammatory bowel disease treatment market report include Allergan plc, Pfizer Inc., Biogen Inc., Takeda Pharmaceutical Company Limited, UCB Inc, AbbVie, Inc., Alkem Laboratories Limited, Janssen Biotech, Inc., Novartis AG, Valeant Pharmaceuticals International, and Abbott Laboratories.
Segmentation
The MRFR report gives an inclusive segmental analysis of the global inflammatory bowel disease treatment market report based on end user, distribution channel, disease indication, and drug class.
- By Drug Class, the global inflammatory bowel disease treatment market is segmented into corticosteroids, immunomodulators, aminosalicylates, and TNF inhibitors. Of these, the aminosalicylates segment will lead the market over the forecast period.
- By Disease Indication, the global inflammatory bowel disease treatment market is segmented into Crohn’s disease and ulcerative colitis. Of these, the Crohn’s disease segment will dominate the market over the forecast period.
- By Distribution Channel, the global inflammatory bowel disease treatment market is segmented into online pharmacy, retail pharmacy, and hospital pharmacy. Of these, the hospital pharmacy segment will have a major share in the market over the forecast period.
- By End user, the global inflammatory bowel disease treatment market is segmented into hospitals & clinics, & others. Among these, hospitals & clinics will have lions share over the forecast period.
Regional Analysis
Based on the region, the market has been segmented into the Americas (North America and Latin America), Europe, Asia-Pacific (APAC), and the Middle East & Africa (MEA).
Americas is expected to account for the largest inflammatory bowel disease treatment market share. The developed infrastructure in the region is likely to improve the growth of the inflammatory bowel disease treatment market over the review period. Consequently, increasing per capita income along with the rising healthcare expenditure is expected to contribute to the market growth in the Americas over the forecast period. Moreover, the increasing prevalence of anxiety and gluten allergies and consumer inclination towards junk food have led to the growing number of patients suffering from inflammatory bowel disease in the region. Furthermore, the presence of key market players, rising health awareness among consumers, and the established healthcare sector are significant factors influencing the market growth.
Europe was the second-largest region in the inflammatory bowel disease treatment market. The European market is expected to display steady growth during the forecast period owing to the increasing prevalence of inflammatory bowel disease, unhealthy lifestyle habits, the rising rate of alcohol abuse, and the growing incidence of stress disorders, anxiety, and depression among adults. Additionally, factors such as increasing initiatives by the governments and increased funding for research, the expansion of advanced medical treatment options, and convenience of favorable reimbursement policies are likely to drive the growth of the market for inflammatory bowel disease treatment in Europe over the review period.
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Asia-Pacific is anticipated as the fastest-growing inflammatory bowel disease treatment market with an exponential rise in the patient population. Developing countries such as Japan and China are expected to be the largest markets for inflammatory bowel disease treatment in Asia-Pacific. The rising prevalence of stress disorders, anxiety, and depression among adults along with the increasing substance abuse of alcohol and the sedentary lifestyles of consumers are expected to result in an increase in the patient pool, consequently fueling the need for treatment drugs.
The inflammatory bowel disease treatment market in the Middle East & Africa is estimated to witness the lowest growth rate and the smallest market share over the review period, owing to a lack of awareness about the disease, restricted access to and accessibility of treatment facilities, and lesser prevalence of the disorder in the region. However, the market share is expected to be majorly contributed by the middle eastern developing countries such as Kuwait, UAE, and Saudi Arabia.
