Pune, India, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The inflammatory bowel disease treatment market revenue is set to rise from USD 26.55 billion in 2023 to USD 39.19 billion by 2030 at a CAGR of 5.7% from 2023 to 2030. Increasing prevalence of ulcerative colitis and Crohn's disease due to environmental factors and lifestyle changes among people are driving market growth.
Fortune Business Insights™ shares this information in its report titled “Inflammatory Bowel Disease Treatment Market, 2023-2030.”
Key Industry Development
- April 2023: Prometheus Biosciences, Inc., a clinical-stage biotechnology firm, was purchased by Merck & Co., Inc. The acquisition was made to obtain Prometheus’ late-stage candidate, PRA023, which is currently undergoing clinical trial for the treatment of ulcerative colitis and Crohn’s disease and other autoimmune diseases.
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Key Takeaways:
- A higher diagnosis rate of the disease, growing focus on early diagnosis, and favorable reimbursement policies in developed countries are driving the demand for inflammatory bowel disease treatments.
- Increasing demand for biologics for IBD treatment supports the growth of the injectables segment.
- The market size in North America stood at USD 10.33 billion in 2022.
- Increasing adoption of online pharmacies is supporting the market growth during forecast period.
List of Key Players Profiled in the Report
“Companies leading the global Inflammatory Bowel Disease Treatment Market are AbbVie Inc. (U.S.), Takeda Pharmaceutical Company Limited (Tokyo), UCB S.A. (Belgium), Bausch Health Companies Inc. (Canada), Bristol-Myers Squibb Company (U.S.), Pfizer Inc. (U.S.), CELLTRION INC. (South Korea), Johnson & Johnson Services, Inc. (U.S.)”
Report Scope:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 5.7% |
| 2030 Value Projection | USD 39.19 Billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 26.55 Billion |
| Historical Data | 2019 to 2021 |
| No. of Pages | 181 |
| Segments covered | Disease Indication, Route of Administration, Drug Class, Distribution Channel, and Region |
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https://www.fortunebusinessinsights.com/inflammatory-bowel-disease-treatment-market-106704
Segmentation
Growing Prevalence of Crohn’s Disease to Boost Segment Growth
In terms of disease indication, the market is segregated into Crohn's disease and ulcerative colitis.
The Crohn’s disease segment set to lead the market share over the forecast period due to the increasing prevalence of Crohn’s disease. A rise in patients with opting for a Crohn’s disease treatment is enhancing segment growth.
Growing Adoption of Injectables for Ulcerative Colitis Treatment to Foster Segment Growth
By route of administration, the market is classified into oral and injectables.
The injectables segment is expected to account largest share over the forecast timeframe due to rapid adoption of biologics for the treatment of ulcerative colitis & Crohn’s disease. An increase in product approvals for is supporting segment expansion.
Rising Need for Monoclonal Antibodies to Manage Remission in Patients Fueled Segment Expansion
On the basis of drug class, the market is segmented into IL Inhibitors, TNF inhibitors, anti-integrin, JAK Inhibitors, corticosteroids, ASA drugs, and others.
The TNF inhibitors segment led the market share. The segment growth is attributed to the surging need for monoclonal antibodies to manage remission in patients with inflammatory bowel disease. Top market participants are putting more efforts into developing TNF inhibitors, which is promoting segment growth.
Accessibility of Beneficial Reimbursement Schemes to Cover High IBD Treatment Drug Costs Boosted Hospital Pharmacy Segment Growth
Based on distribution channel, the market is categorized into hospital pharmacy and retail pharmacy & other.
The hospital pharmacy segment dominated the market. The segment growth is driven by the high cost of IBD treatment medicines that are covered by beneficial reimbursement schemes in developing countries.
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Drivers and Restraints
Rising Demand for Inflammatory Bowel Disease Treatments to Augment Market Growth
Numerous variables, including genetic predisposition, environmental triggers, and immune system disturbance are responsible for the rising prevalence of ulcerative colitis and Crohn’s disease. Most people who have ulcerative colitis or Crohn’s disease have a family history of the condition.
By guiding the people about the signs, diagnosis, and treatments for these ailments, numerous government organizations are raising awareness about these diseases. Increasing rates of disease diagnosis in developing countries and growing understanding of the range of inflammatory bowel disease treatments are projected to boost market expansion over the forecast period.
On the other hand, lack of awareness about inflammatory bowel disease in developing countries and high treatment cost are limiting the inflammatory bowel disease treatment adoption in patients.
Regional Insights
Rising Adoption of Biologics Propelled Market Expansion in North America
North America was valued at USD 10.33 billion in 2022. Increasing adoption of biologics for the treatment of ulcerative colitis and Crohn’s disease is boosting the inflammatory bowel disease treatment market share in the region.
The market in the Asia Pacific is projected to rise at a higher CAGR during the forecast period. Growing awareness about ulcerative colitis and Crohn’s disease and a rise in drug approvals for to treat these diseases are the key factors boosting market expansion in the region.
Competitive Landscape
Leading Companies Focus on Offering Novel Drug Solutions for Ulcerative Colitis Treatment
Just a few of major enterprises control a significant share of the market due to market consolidation. With a broad range of biologic drugs for the treatment of ulcerative colitis and Crohn’s disease, market leader AbbVie Inc. holds a commanding position. The business became a global leader due to successful geographic penetration.
In October 2021, Bristol-Myers Squibb firm announced that the Committee for Medicinal Products for Human Use (CHMP) approved Zeposia (ozanimod) for the treatment of adults with moderately to severely active Ulcerative Colitis (UC).
Have Any Query? Ask Our Experts:
FAQs
How big is the inflammatory bowel disease treatment market?
Inflammatory bowel disease treatment market size was USD 26.55 billion in 2023. It is expected to reach USD 39.19 billion in 2030.
How fast is the inflammatory bowel disease treatment market growing?
The inflammatory bowel disease treatment market will exhibit a CAGR of 5.7% during the forecast period, 2023-2030.
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