New Report Offers Inflammatory Bowel Disease (IBD) Treatment Market, Trends, Future Prospects during 2017-2025
New research report offers a comprehensive analysis of the “Inflammatory Bowel Disease (IBD) Treatment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025“The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.
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Global Inflammatory Bowel Disease (IBD) Treatment Market: Snapshot
Inflammatory Bowel disease is a group of gastrointestinal inflammatory diseases which mainly comprises of Ulcerative colitis and Crohn’s disease. Inflammatory bowel diseases causes long terms chronic as well as severe inflammation in gastrointestinal tract without any known cause. The Ulcerative colitis disease mainly affects the inner lining of large intestine and causes inflammation and sores in colon and rectum. Ulcerative colitis is more commonly observed disease than that of Crohn’s disease. Unlike ulcerative colitis, Crohn’s disease is not restricted to only large intestine and rectum, it can affect any part of gastrointestinal tract starting from mouth to small intestine and anus. The common symptoms of IBD includes the chronic pain and cramps in abdomen, persistent diarrhea, occasional rectal bleeding, and fever. The exact cause of inflammatory bowel disease is not well understood and there is high prevalence and incidence rates of these diseases have been observed in developed countries. Several medications such as corticosteroids, aminosalicyclates, immunomodulators, and biologic drugs such as TNF inhibitors and up to certain extent antibiotic drugs are prescribed to relive the symptoms of these diseases.
TNF Inhibitors Held Dominant Share in Terms of Drug Class
The global IBD treatment market has been broadly segmented into four segment on the basis of drug class, disease indication, distribution channel and region. In terms of drug class, the global market has been segmented into TNF Inhibitors, aminosalicyclates, immunomodulators and corticosteroids. The TNF inhibitors are the monoclonal antibodies derived from the human and animal tissues and used to stop the inflammation in GI tract. The most commonly used TNF inhibitors are Adalimumab, Vedolizumab, and infliximab. The TNF inhibitors accounted for key share of global IBD treatment market and is projected to gain its market share by the end of 2025. The aminosalicyclates accounted for second leading share holder of global IBD treatment market and is projected to lose its market share to corticosteroids and immunomodulators segment. The decline in market share of aminosalicyclates is primarily attributed to patent expiry of leading pharmaceutical brands during the forecast period. In terms of distribution channel, the market is segmented into hospital pharmacy, retail pharmacy and online pharmacy.
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Rising Incidence of Ulcerative Colitis and Crohn’s Disease Fuels Demand in North America
Geographically, the global IBD treatment market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global market and is projected to gain its market share by the end of 2025. The increase in North America region share his attributed to high prevalence and growing incidences of Ulcerative colitis and Crohn’s disease in the United States and Canada, well established healthcare facilities and high risk of life style related risk factors. According to Center for Disease Control and Prevention (CDC), in 2015, an estimated number of 3.1 million people around (1.3% of entire population) in the United States were diagnosed either with Crohn’s disease or Ulcerative Colitis. It is estimated that, each year around 70,000 new cases of IBD are diagnosed in the United States. The hospitalization rate of secondary diagnosed population has significantly increased from 44.2 to 59.7 per 100, 00 population during 2003 to 2013. Asia Pacific region is projected to be fastest growing region in global IBD treatment market during the forecast period. In Asia Pacific region, Japan dominated the IBD treatment market whereas China is estimated to grow at exponential CAGR during the forecast period.
The companies like AbbVie, Inc., Pfizer, Inc., Shire Plc, Janssen Biotech, Inc. (Johnson & Johnson) etc. accounted for the major share in global inflammatory bowel disease treatment market in 2016. The other global players operating in the market include Allergan plc., Valeant Pharmaceuticals International, Inc., Takeda Pharmaceutical Company Limited., Novartis AG, UCB Inc., and Biogen Inc.
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