Irritable Bowel Syndrome (IBS) Treatment Market Analysis
The irritable bowel syndrome treatment market is garnering substantial traction. Market growth attributes to the highly prevailing irritable bowel complications. Besides, the rising demand for effective treatment methods drives the growth of the market. Also, rising breakthrough discoveries of drugs and therapeutics accelerate market growth. Moreover, the strong drug pipeline for IBS escalates the market growth.
According to Market Research Future (MRFR), the valuation of global irritable bowel syndrome treatment market is estimated to reach USD 2,900 MN by 2023, registering 7.58% CAGR during the forecast period (2018-2023). Factors such as the growing awareness about IBS and increased per capita healthcare spending are key driving forces behind the market increase.
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Also, improving healthcare infrastructures including hospitals & clinics, research laboratories, foster the growth of the market. Additionally, factors such as several risk factors leading to IBS, like changing dietary patterns, sedentary lifestyle, and extensive use of antibiotics, boost market growth.
Conversely, significant unmet clinical needs and lack of awareness for IBS treatments are major factors predicted to impede the market growth. However, rising clinical study designs that have received a non-significant risk determination from the FDA would contribute to the market growth throughout the analyzed period.
Global IBS Treatment Market – Segments
The Irritable Bowel Syndrome (IBS) Treatment Market is segmented into four dynamics;
By Type: IBS-C, IBS-D, IBS-M, and others.
By Drug Type: Linaclotide, Lubiprostone, Rifaximin, Alosetron, Eluxadoline, and others.
By End-User: Research Laboratories, Hospitals & Clinics, and others.
By Regions: Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Global Irritable Bowel Syndrome Treatment Market – Geographical Analysis
North America leads the global irritable bowel syndrome treatment market. The region accounted for over 45% of the overall market share in 2017. The largest market share attributes to the presence of several notable industry players and well-established healthcare sector. Also, the growing prevalence of irritable bowel syndrome and diseases related to IBS drive the market demand.
Moreover, the well-spread awareness among demographics about IBS treatments, alongside the rising uptake of IBS diagnostics and treatment devices, fosters market revenues. Furthermore, favorable healthcare reimbursement policies positively impact the growth of the regional market. The US IBS treatment market holds the largest share in the regional market.
Europe holds the second-largest position in the global irritable bowel syndrome treatment market. The market is driven by the increasing per capita healthcare expenses and penetration of healthcare sectors in the region. The presence of large patient pool and major pharma companies in the region boost market growth. Moreover, the availability of effective medications and R & D funding support from public & private sectors propels the regional market growth.
Additionally, rising drugs & therapeutics discoveries and the resurging economy in the region foster market growth, allowing access to quality medication and hence, excellent care. IBS treatment markets in the UK, Germany, and France, along with the breakthrough drug discovery and burgeoning pharmaceutical industry, significantly contribute to the regional market growth. The European IBS treatment market is projected to create a larger revenue pocket over the assessment period.
The Asia Pacific irritable bowel syndrome treatment market is growing rapidly. Factors such as the increasing healthcare expenditures, burgeoning pharma sector, and favorable government policies boost the regional market growth. Furthermore, the large unmet clinical needs and raw material advantage foster the market growth in the region. Rapidly developing economies like as India and China contribute to the regional market growth majorly. The APAC IBS treatment market is expected to witness a spurting growth over the projected period.
Irritable Bowel Syndrome (IBS) Treatment Market – Competitive Landscape
Highly competitive, the global IBS treatment market appears well-established due to the presence of several notable players. They incorporate strategic approaches such as mergers & acquisitions, expansions, and product/technology launch to gain a larger competitive advantage. They also make substantial investments to drive R&D to develop their capabilities and to expand global footprints.
Irritable Bowel Syndrome (IBS) Treatment Market Major Players:
Players active in the global IBS treatment market are Allergan Inc., Astellas Pharma, Inc., Abbott, Valeant Pharmaceuticals International, Inc., Nestle Health Science, Synergy Pharmaceuticals Inc., Lexicon Pharmaceuticals, Inc., Ardelyx, Inc., Mallinckrodt, and Ironwood Pharmaceuticals, among others.
Irritable Bowel Syndrome (IBS) Treatment Industry/Innovation/ Related News:
June 29, 2020 — Biomerica Inc. (BMRA – the US) announced its partnership with the University of Texas Health Science Center at Houston (UTH) to proceed with the clinical trial for Biomerica’s new InFoods® diagnostic-guided therapy, designed to alleviate IBS symptoms. UTH is the fifth large medical center to be part of the InFoods clinical trial.
InFoods Diagnostic-Guided Therapy is exclusively designed to identify patient-specific foods that may alleviate an individual’s IBS symptoms when removed from the diet. BMRA is a leading global biomedical technology company developing, patenting, manufacturing, and marketing advanced diagnostic and therapeutic products used at the point-of-care.
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