Pune, India, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The inflammatory bowel disease treatment market size was valued at USD 23.90 billion in 2021 and projected to grow USD 37.00 billion by 2029, exhibiting a CAGR of 5.7% during forecast period. Growing awareness about benefits of drugs such as biologics, corticosteroids, and others is increasing adoption of inflammatory bowel disease therapeutics globally.
This information is published by Fortune Business Insights, in its report titled, “Inflammatory Bowel Disease Treatment Market, 2022-2029.”
Key Industry Development:
February 2021: Eli Lilly and Company teamed up with the Interactive Scope, an artificial intelligence company in gastroenterology to utilize progressive AI application for inflammatory bowel disease treatment.
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Key Takeaways:
- Increasing rate of disease diagnosis in developing countries are anticipated to support the market growth.
- Increased the demand for inflammatory bowel disease treatment drugs such as TNF inhibitors, IL inhibitors, and others in the market.
- The TNF inhibitors segment held the leading share of the market.
- The market size in North America stood at USD 9.81 billion in 2021.
- The market has been segmented into hospital pharmacy and retail pharmacy & other.
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 (Japan), 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 | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 5.7% |
| 2029 Value Projection | USD 37.00 Billion |
| Base Year | 2021 |
| Market Size in 2021 | USD 23.90 Billion |
| Historical Data | 2018 to 2020 |
| No. of Pages | 181 |
| Segments covered | Disease Indication, Route of Administration, Drug Class, Distribution Channel, and Region |
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Segments:
Growing Drug Approvals by Regulatory Authorities for Treatment to Spur Market Growth
Based on disease indication, the market is segregated into Crohn disease and ulcerative colitis.
The Crohn’s disease segment is estimated to hold a prime share in the market. The development of this segment is attributed to the growing dominance of Crohn’s disease and the number of patients undergoing treatment for Crohn’s disease across the globe.
Injectables Segment to Hold Prime Market Share
Injectables segment is expected to grow on account of the aspects such as growing adoption of biologics for the treatment of ulcerative colitis and Crohn’s disease and spurring product approvals for the biologics.
Rising Adoption of Biologics to Lead Market
In terms of drug class, the market has been categorized into IL inhibitors, TNF inhibitors, anti-integrin, JAK inhibitors, corticosteroids, ASA drugs, and others.
The TNF inhibitors segment held the leading share of the market. Monoclonal antibodies are used for targeting to induce and preserve remission in patients with the inflammatory bowel disease, which is motivating the segment’s growth in the market.
By Disease Indication
- Ulcerative Colitis
- Crohn's Disease
By Route of Administration
- Oral
- Injectables
By Drug Class
- IL Inhibitors
- TNF Inhibitors
- Anti-integrin
- JAK Inhibitors
- Corticosteroids
- ASA Drugs
- Others
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy & Other
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Drivers and Restraints:
Growing Occurrence of Disease is Presenting Huge Patient Pool Undergoing Treatment
There are several dynamics that are accountable for the rising occurrence of ulcerative colitis and Crohn’s disease such as genetic disposition, environmental triggers, and immune system commotion. Most of the patients experiencing ulcerative colitis or Crohn’s disease have a family history of the ailment. This is expected to bolster the inflammatory bowel disease treatment market growth.
Nevertheless, there exists a scarcity of alertness about inflammatory bowel disease in developing economies, decreasing the number of patients taking treatment. Moreover, the treatment being expensive along with higher drug cost and other costs, it is estimated to restrict the implementation of inflammatory bowel disease treatment in patients.
Regional Insights:
North America to Dominate Backed by Supportable Government Initiatives
North America held the largest inflammatory bowel disease treatment market share and stood at USD 9.81 billion in 2021, which was fueled by the expanded adoption of biologics for the treatment of ulcerative colitis and Crohn’s disease, favorable reimbursement programs for the treatment, and increasing occurrence of these conditions in the U.S. and Canada.
Europe is projected to hold the second-largest share of the market in 2021. The fundamental factors fueling the market growth involve the surging treatment population of the ailment in the region.
The market in Asia Pacific is anticipated a higher CAGR owing to the surging consciousness about ulcerative colitis and Crohn’s disease in the region and the growing sanctions for the drugs for treatment of these illnesses.
Competitive Landscape:
Coalitions among Companies to Safeguard their Brand Values in Global Market
Indispensable players in the market are incessantly rooting for operative strategies to promote their products and establish their positions in the market. One such approach is to launch novel products by teaming up with other companies to extend their reach to end-users.
FAQs
How big is the inflammatory bowel disease treatment market?
Inflammatory bowel disease treatment market size was USD 23.90 billion in 2021. It is expected to reach USD 37.00 billion in 2029.
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, 2022-2029.
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