Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global Crohn’s disease treatment market was valued at US$ 9.4 billion in 2017, and would potentially exhibit a robust CAGR of 4.3% throughout the forecast period (2018-2026). The global market is likely to gain significant traction, owing to the increasing patient population suffering from gastrointestinal tract diseases. According to the Centers of Disease Control and Prevention (CDC), approximately 34 million people in the U.S. were reported to be afflicted by digestive system disorders in 2016.
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With respect to drug type, the immunomodulators segment holds a dominant position in the global Crohn’s disease treatment market, owing to the advanced therapeutic action offered by these drugs. Furthermore, the hospital pharmacies distribution channel segment is projected to lead the global market over the forecast timeline, buoyed by the ascending number of patients visiting hospitals for consultations regarding the treatment of the Crohn’s disease.
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Among regions, North America is poised to emerge as the leading market for Crohn’s disease treatment, owing to the introduction of innovative solutions into the global market, as well as the presence of key market players in this region. Canada is said to have recorded the highest incidence rate of inflammatory bowel diseases and the Crohn’s disease in the world. In a study published in the Lancet in October 2017, it was observed that the U.S. and Europe reported around 319 and 322 cases of Crohn’s disease respectively.
Introduction of novel therapies, such as efficient biosimilars, by the leading manufacturers contributes immensely to the global market growth. For instance, in 2017, the U.S. FDA granted approval Cyltezo, developed by Boehringer Ingelheim International GmbH, which is a biosimilar to Humira, for the treatment of Crohn’s disease and ulcerative colitis. Pfizer, Inc. also received the regulatory approval for another therapeutic, called Ifixi, which is a monoclonal antibody biosimilar to Janssen’s Remicade for the treatment of Crohn’s disease.
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The renowned players operating in global Crohn’s disease treatment market include AbbVie Inc., Janssen Biotech, Inc., Allergan Inc., Bayer AG, Bristol-Myers Squibb, Pfizer, Inc., Boehringer Ingelheim GmbH, F. Hoffmann-La Roche, Eli Lilly and Company, GlaxoSmithKline Plc, Novartis International AG, Sanofi S.A., and Takeda Pharmaceutical Company Limited.
New product launches and a large number of drugs nearing the completion of clinical trials to receive regulatory approvals are factors creating a conducive environment for the global market expansion. For instance, in September 2016, Johnson & Johnson received FDA approval for the company’s blockbuster drug Stelara for use in adults indicated in treatment of Crohn’s disease in the U.S. In April 2018, Qu Biologics successfully passed through the Phase I clinical trials of FDA and initiated Phase II studies for development of site specific Immunomodulators for the treatment of Crohn’s disease. Furthermore, in July 2016, Takeda and Crohn’s Colitis Foundation of America joined forces in a bid to introduce the “IBD Unmasked” to share stories of patients suffering from the disease, as well as to educate people about the disease and its impacts.
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