Inflammatory Bowel Disease Treatment Market: Information by Drug Class (TNF Inhibitors, Aminosalicylates) Disease Indication (Ulcerative Colitis, Crohn’s Disease) Distribution Channel (Hospital Pharmacy), End-User (Hospitals & Clinics)—Forecast till 2023
According to Market Research, Future (MRFR), the inflammatory bowel disease treatment market is expected to record a 2.5% CAGR during the prediction period.
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The global market for inflammatory bowel disease treatment is proliferating worldwide due to influential factors such as the growing prevalence of Crohn’s disease and ulcerative colitis, government support for inflammatory bowel disease treatment research, advances in medical technology, and the increasing incidence of anxiety and depression. Furthermore, a growing number of drugs in a clinical trial and the rising popularity of pre-biotic and pro-biotic food products is likely to contribute to the market growth in the assessment period. Though, higher capital investments essential for drug discovery, insufficient effectiveness of treatment available in the market, and severe drug regulatory policies are restricting the growth of the inflammatory bowel disease treatment market.
Segmental Analysis
The global market for inflammatory bowel disease treatment has been segmented based on drug class, distribution channel, disease indication, and end-user. by drug class, the market for inflammatory bowel disease treatment has been segmented into aminosalicylates, corticosteroids, immunomodulators, and TNF inhibitors. Based on disease indication, the inflammatory bowel disease treatment market has been segmented into Crohn’s disease and ulcerative colitis. Based on the distribution channel, the global market for inflammatory bowel disease treatment has been segmented into hospital pharmacy, online pharmacy, and retail pharmacy. The end-users operating in the global inflammatory bowel disease treatment market, the market has been segmented into hospitals and clinics, and others.
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.
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. Additionally, reasonably lenient drug regulatory policies and increasing initiatives by the government towards healthcare reform are expected to push the market growth forward during the forecast period. Increasing healthcare expenditure and increasing consumer standards of living in the region are also driving the growth of the market for inflammatory bowel disease treatment in the Asia Pacific in the forecast period.
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.
Key Players
Key market players are Abbott Laboratories, AbbVie, Inc., Allergan plc, Alkem Laboratories Limited, Biogen Inc., Janssen Biotech, Inc., Novartis AG, Pfizer Inc., Takeda Pharmaceutical Company Limited, UCB Inc, Valeant Pharmaceuticals International.
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