Irritable bowel syndrome (IBS) is one of the most common disorders that affect the large intestine. It causes cramping, abdominal pain, bloating, diarrhoea, gas, and constipation. The disease is also known as spastic colon, mucous colitis, spastic colitis, and irritable colon.
Factors such as growing prevalence of IBS and rising awareness related to availability of treatment for IBS are driving the market growth. According to a data published by the International Foundation for Gastrointestinal Disorders, in May 2016, the worldwide prevalence rate of IBS is 10% to 15%. Other factors that positively affect the market growth are strong product pipeline.
However, lack of specific treatment options for all symptoms of IBS is expected to negatively impact the market growth during the forecast period.
The global irritable bowel syndrome treatment market has been segmented into type and end user.
On the basis of type, the global irritable bowel syndrome treatment market is divided into lubiprostone, linaclotide, eluxadoline, rifaximin, ramosteron hydrochloride, and others. Lubiprostone held the largest market share owing to the growing adoption of the product in major regions.
By end user, the irritable bowel syndrome treatment market is segmented into hospitals, clinics, and home care. The hospitals segment held the largest market share in 2019 as hospitals are primary center of care for any type of disease.
By region, the global irritable bowel syndrome treatment market is segmented into the Asia-Pacific, North America, Europe, South America, and Middle East & Africa.
North America is estimated to lead the global market in 2019, owing to growing awareness regarding the condition and presence of major players in the region, such as Abbott, Synergy Pharmaceuticals, Inc., Sucampo Pharmaceuticals, Inc., Ardelyx Inc., and Ironwood Pharmaceuticals, Inc. The Europe market is expected to garner significant market share owing to the rising prevalence of IBS and growing commercialization of the IBS treatment products. According to a report published by Allergan Inc., the prevalence of IBS in Europe in 2016 was 7.1%. The irritable bowel syndrome treatment market is the Asia-Pacific region is anticipated to grow at the fastest CAGR owing to the presence of huge patient population suffering from IBS and increasing geriatric population in the region. The market in South America is expected to garner significant market share owing to the increasing incidence rate of IBS. The Middle East & Africa irritable bowel syndrome treatment market is expected to demonstrate least growth owing to the low awareness regarding the disease and its treatment, especially in the African region.
Key market players covered in the report include Abbott (US), Synergy Pharmaceuticals, Inc. (US), Sucampo Pharmaceuticals, Inc. (US), Bausch Health (Canada), Ardelyx, Inc. (US), Astellas Pharma Inc. (Japan), Novartis AG (Switzerland), GlaxoSmithKline Plc (UK), and Ironwood Pharmaceuticals, Inc. (US), among others. These companies are involved in product approvals, mergers, partnerships, and other such strategic activities to grow in the market. For instance, in January 2018, Synergy Pharmaceuticals Inc. received US Food and Drugs Administration (FDA) approval for Trulance, a drug for the treatment of constipation predominant IBS-C in adults. With this product approval the company expanded its product portfolio. Furthermore, in May 2018, Allergan plc in collaboration with Ironwood Pharmaceuticals Inc. launched the AboutYourGut.com website in order to create awareness regarding the disease. This awareness initiative helped the companies to create a competitive edge over other market players.
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