Acumen Research and Consulting estimate that the global inflammatory bowel disease market is anticipated to reach a market size of around US$ 23,000 Mn by 2027 and is anticipated to grow at a CAGR of around 4% in terms of revenue during the forecast period 2020 – 2027
Inflammatory bowel disease is a category of medical disorders that cause chronic digestive tract inflammation. The term 'inflammatory bowel' encompasses two main diseases: ulcerative colitis and Crohn's disease. The length-term pathological history that induces swelling and sores in the internal lining of the colon and rectum is ulcerative colitis. Crohn's disease is more of an inflammatory bowel condition, inducing swelling from mouth to intestine and anus through any portion in the gastrointestinal tract. The precise cause is not clear, but the signs of inflammatory bowel disease in the patient are believed to be attributed to autoimmune conditions, genetic factors and lifestyle changes. Inflame-bowel disorders are common symptoms such as vomiting, stomach pain and cramps, constipation, rectal bleeding, loss of weight and fever.
The rise of inflammatory bowel diseases such as colitis ulcerative and Crohn's disease primarily drives demand development. Increased consumption and sedentary and unhealthy lifestyle of unsanitary food and drink often enhance consumer development. The rise in public and private health spending is expected to fuel business demand. The market development is nevertheless slowed by high medication prices, side effects like moderate pain in the stomach, cramps, diarrhoea, lack of appetite, and rigid state control related to product health and effectiveness. In the current forecast period, R&D for inflammatory bowel disease medicines is expected to establish new prospects.
New Product Development & Approvals to Drive Global Market
Inflammatory bowel disorders include Crohn's disease and colitis ulcerative, which are characterized by chronic inflammation of GITs. The precise cause of inflammatory bowel disease is not clear and the incidence in developing countries has been high. A variety of medications are recommended for alleviation of the symptoms of these diseases such as the corticosteroids, the aminosalicylates, the fusion antagonists, biologic medicines such as tumor necrosis factor (TNF). In developing nations, the high prevalence and rise of Crohn's disease and ulcerative colitis have contributed to the development of new medicinal medicines. Biopharmaceutical firms have made substantial research and development advances and several pipeline drugs are expected to be launched over the projected timeframe at specific levels of clinical approval. The MEDI2070 monoclonal antibody against ulcerative colitis and Crohn's disease is developed jointly by AstraZeneca and Allergan. MEDI2070 is currently in phase IIb of a mild to serious Crohn's disease clinical trial as well as in phase II of ulcerative colitis. In phase II and phase III clinical trials for Crohn's disease and ulcerative colitis respectively, Pfizer's PF-00547659 and Celgene's Ozanimod was performed respectively. In addition, the recent release and acceptance of new medicines in North America, Europe, and Japan will in the immediate future raise demand for IBD drugs.
In 2018 , North America was the biggest competitor in the global economy. The new product growth, particularly biologic drugs and approvals, existing health centers, the highest prevalence and occurrence of IBD, and the involvement of key players in the field, that all contribute to this. In addition, the market for IBD therapies will possibly increase during the forecast period, as new pipeline drugs, higher clinical R&D budgets for both the government and private sector, and increasing life-style risk factors. The Asia Pacific market is expected to grow at the highest rates in CAGR in the forecast period due to an increased per capita medical expenditure and access to healthcare in India, China, Australia, and New Zealand. Treatment markets in Latin America and in the Middle East and Africa, IBDs (ulcerative colitis and Crohn's disease) will possibly increase significantly in the forecast period.
The Prominent Players In The Inflammatory Bowel Disease Market
Allergan plc, Valeant Pharmaceuticals International, Inc., Janssen Biotech, Inc. (Johnson & Johnson), Pfizer, Inc., Takeda Pharmaceutical Company Limited., Novartis AG, UCB, Inc., AbbVie, Inc., Biogen, Inc. and others are the prominent players in the market.
The global inflammatory bowel disease market is segmented as below:
Inflammatory Bowel Disease Market By Disease
Inflammatory Bowel Disease Market By Drugs
Inflammatory Bowel Disease Market By Geography
Middle East & Africa