Inflammatory bowel disease (IBD) refers to chronic conditions of the colon and small intestine namely Crohn's disease and ulcerative colitis. Products used in the treatment of IBD help control symptoms, promote remission, and prevent disease flares. Drugs such as aminosalicylates, immunosuppressants, corticosteroids and biologics are commonly used to treat IBD.
The global Inflammatory Bowel Disease Market is estimated to be valued at US$ 21.5 billion in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of IBD has accelerated the growing adoption of various treatment options. The rising prevalence of IBD worldwide can be attributed to changing lifestyle patterns, increasing consumption of processed and junk foods, growing pollution levels etc. According to CCF, over 10 million people suffer from IBD globally. The growing disease burden has increased patient uptake of different treatment modalities including biologics, immunomodulators and biosimilars for managing IBD symptoms and achieving remission. This rising demand from patients is a major trend fueling market revenue growth over the forecast period.
Segment Analysis
The global inflammatory bowel disease market is segmented based on drug class, indication, and distribution channel. Based on drug class, the market is segmented into aminosalicylates, corticosteroids, immunomodulators, antibiotics, and biologics. Biologics dominate the market as they provide effective treatment for inflammatory bowel conditions like ulcerative colitis and Crohn’s disease. They have lesser side effects compared to other drugs and help maintain remission.
Key Takeaways
Global Inflammatory Bowel Disease Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis shows that North America currently dominates the market and is expected to continue its dominance over the forecast period. This can be attributed to growing incidence of inflammatory bowel diseases, strong healthcare infrastructure, and presence of key players in the region.
Key players operating in the inflammatory bowel disease market are AbbVie, Inc., Johnson & Johnson Services Inc., Takeda Pharmaceutical Company Limited, Bausch Health Companies Inc., Pfizer Inc., Novartis AG, Merck & Co., Inc., Biogen Inc., and Bristol-Myers Squibb Company.
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