How is inflammatory bowel disease treated?
The goal of treating inflammatory bowel disease is to reduce the inflammation that is causing your symptoms and signs. In the best case, this can lead not only to symptom relief, but also to long-term recovery and reduced risk of complications. Treatment for IBD usually involves medication or surgery.
How big is the Inflammatory Bowel Disease Drugs Market?
The global Inflammatory Bowel Disease Treatment Market generated $21.0 billion in 2021, and is estimated to reach $34.5 billion by 2031, witnessing a CAGR of 5.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
- CAGR: 5.1%
- Current Market Size: USD 21.0 Billion
- Forecast Growing Region: APAC
- Largest Market: North America
- Projection Time: 2021 – 2031
- Base Year: 2020
- Segments covered: Type, Drug Class, Distribution Channel, and Region
Alarming rise in prevalence of Crohn’s disease and ulcerative colitis, and rise in government & private funds for development of healthcare sectors, and increase in approvals for drugs for the treatment of inflammatory bowel disease are expected to contribute towards the growth of the global inflammatory bowel disease drugs market.
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- The COVID-19 pandemic had a positive impact on the growth of the inflammatory bowel disease treatment market. This is due to the increase in number of government initiatives to protect patients with inflammatory bowel disease, as those patients were more prone to acquire infection due to their immunosuppressive therapies.
- The pharmaceutical sector opened new approaches and collaborations in the industry to respond to the urgent needs of the pandemic.
- The market is anticipated to grow even more in the post-pandemic.
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Based on region, North America accounted for the largest share in 2021, contributing to more than two-fifths of the global inflammatory bowel disease treatment market, and is likely to dominate the market during the forecasted timeframe. However, Asia-Pacific is expected to exhibit the fastest CAGR of 6.6% during the forecast period. The research also analyzes the regions including Europe and LAMEA.
Some of the Top Players in the Global Market Are:
- AbbVie Inc.
- Bristol Myers Squibb
- Celltrion Healthcare
- Johnson & Johnson Services Inc.
- Merck & Co, Inc.
- Novartis AG
- Pfizer Inc.
- Takeda Pharmaceutical Company Ltd.
- UCB S.A.
Increasing government support for the management of inflammatory bowel disease and increasing availability of effective preventive treatments are the major factors driving the growth of the global inflammatory bowel disease market. Additionally, major players, such as AbbVie Inc., Takeda Pharmaceuticals, Pfizer Inc., and Bristol Myers Squibb are driving the market growth. However, high drug costs and limited reimbursement policies are restraining the market growth. On the contrary, the increase in the number of pharmaceutical companies increases the demand for the treatment of bright drugs, making it possible for manufacturers to plant and market in the market.
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