Inflammatory Bowel Disease Treatment Market Size, Demand Analysis, Growth Rate And 2023 Forecast Scrutinized In New Research
The Global Inflammatory Bowel Disease Treatment Market Provides Detailed And Suitable Information Regarding Leading Key Players Along With Rise Industries Competing For Grabbing The Share In The Market In Terms Of Revenue, Sales, Demand, Supply, And Providing Quality.
The inflammatory bowel disease treatment market is expected to register a CAGR of 2.5% during the forecast period due to the increasing patient pool, advances in medical technology, government initiatives for research on novel drugs discovery, and increasing prevalence of anxiety and depression. Moreover, the increasing number of drugs in clinical trials and the growing popularity of prebiotic and probiotic foods are likely to result in market growth. However, high capital investments required for the discovery of drugs, the unsatisfactory effectiveness of treatments, and stringent drug regulatory policies are restraining the growth of the inflammatory bowel disease treatment market.
Market Research Future (MRFR) recognizes Abbott Laboratories, Valeant Pharmaceuticals International, Novartis AG, Janssen Biotech, Inc., Alkem Laboratories Limited, AbbVie, Inc., UCB Inc, Takeda Pharmaceutical Company Limited, Biogen Inc., Pfizer Inc., and Allergan plc as the key players in the global inflammatory bowel disease treatment market.
The global inflammatory bowel disease treatment market has been segmented on the basis of drug class, disease indication, distribution channel, and end-user. Based on drug class, the market has been segmented into TNF inhibitors, aminosalicylates, immunomodulators, and corticosteroids.By disease indication, the market has been segmented into ulcerative colitis and Crohn’s disease.Based on distribution channel, the market has been segmented into hospital pharmacy, retail pharmacy, and online pharmacy.
By end-user, the market has been segmented into hospitals and clinics and others.Based on region, the market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The market in the Americas has been further segmented into North America and South America. The European market has been further divided into Western Europe and Eastern Europe
The Americas is expected to be the largest market for inflammatory bowel disease treatment owing to the increasing prevalence of anxiety and rising incidences of ulcerative colitis and Crohn’s disease. The Centers for Disease Control and Prevention (CDC) has stated that about 1.3% of US adults (3 million) were diagnosed with IBD, either Crohn’s disease or ulcerative colitis, in 2015. Thus, the increasing patient pool will propel market growth during the forecast period. Furthermore, the rising awareness about fitness, presence of key players, and availability of good healthcare infrastructure are likely to fuel the growth of inflammatory bowel disease treatment market.
Europe was the second-largest market for inflammatory bowel disease treatment in 2017 and is expected to register a steady growth rate during the forecast period. This can be attributed to the increasing prevalence of inflammatory bowel disease caused by a rising rate of alcohol abuse in adults, unhealthy lifestyle habits, and prevalence of anxiety and depression in adults. Additionally, factors such as the increasing number of government initiatives and funding for research and development in advanced medical treatment options and the presence of established healthcare infrastructure are likely to propel the growth of the inflammatory bowel disease treatment market in Europe.
Asia-Pacific is expected to be the fastest-growing inflammatory bowel disease treatment market due to the exponential rise in patient population. The rising number of patients diagnosed with anxiety and depression, the increasing abuse of alcohol, and sedentary lifestyles are expected to result in a greater number of patients afflicted with inflammatory bowel disease, thus driving the demand for treatment. Furthermore, friendly drug-regulatory policies and government initiatives for healthcare reform in the region will propel market growth during the forecast period.
The market in the Middle East & Africa is expected to grow at the slowest rate due to the lack of awareness about the disease, limited access to and availability of treatment facilities, and the prevalence of inflammatory bowel disease.
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