IBD Treatment Market to Hit US$ 39.5 Billion by 2031 | Exclusive Report by Growth Plus Reports
Newark, New Castle, USA, July 03, 2023 (GLOBE NEWSWIRE) -- A recent report by Growth Plus Reports estimated the global *IBD treatment market* to be worth *US$ 23.8 billion in 2022*. From 2023 to 2031, market revenue is expected to grow at a *CAGR of 5.8%,* reaching *US$ 39.5 billion**.* The most successful strategies, market trends, the competitive environment, significant drivers and opportunities, statistical data, market size, and revenue are all included in the report.
*Key Takeaways: *
· The increasing case of fecal incontinence is driving the market revenue growth.
· The demand for IBD treatment is a result of increased investment in R&D.
· The growing prevalence of Crohn's disease and other rare diseases contributes to revenue growth.
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* IBD treatment market Scope*
*Report Attribute* *Details*
Market size value in 2022 US$ 23.8 billion
Revenue forecast in 2031 US$ 39.5 billion
Growth Rate CAGR of 5.8% from 2023 to 2031
Base Year for Estimation 2022
Forecast Period 2023-2031
Historical Year 2021
Segments Covered Drug Class, Distribution Channel, and Region.
Regional Scope North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
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*Market Drivers: *
The market revenue for therapies for inflammatory bowel illness is expected to rise as ulcerative colitis and Crohn's disease becomes more common. Additionally, obesity, stress, and lifestyle changes may result in ulcerative colitis and Crohn's disease, contributing to market revenue growth.
*Market Segmentation: *
Growth plus reports have analyzed the global IBD treatment market from perspectives such as drug class, distribution channel, and region.
*Drug Class Segmentation: *
Based on the drug class, the global IBD treatment market is segmented as TNF inhibitors, JAK inhibitors, aminosalicylates, integrin antagonists, corticosteroids, and others.
The TNF inhibitors segment accounts for the largest revenue share in the global IBD treatment market. The extended clinical remission, sparing of corticosteroids, attaining mucosal healing, and averting disease-related comorbidities are all factors that contribute to the substantial revenue share. Moreover, utilizing anti-TNF medicines improves outcomes for IBD patients significantly.
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*Distribution Channel Segmentation: *
Based on the distribution channels, the global IBD treatment market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacies segment accounted for the largest revenue share in the global IBD treatment market. The rise in the revenue share is attributed to the benefits of the distribution of compounded medications.
*Regional Growth Dynamics: *
Based on the region, the global IBD treatment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest revenue share in the global IBD treatment market. This large revenue share is attributed to drug discoveries, the rising prevalence of disease, and successful reimbursement policies in this region.
*Competitive Landscape:*
The major market players operating in the global IBD treatment market include:
· Merck & Co., Inc.
· Johnson & Johnson Services, Inc
· Pfizer Inc.
· Eli Lilly and Company
· AbbVie Inc.
· Takeda Pharmaceutical Company Limited
· Biogen
· Novartis AG
· UCB S.A.
· CELLTRION INC.
The market is heavily consolidated, with several big companies holding a substantial chunk. Market leaders value their dominant position and have many biological drugs for treating ulcerative colitis and Crohn's disease. The company has become a significant player on the international scene because of its effective penetration across important geographies. This dominance by top market players is reinforced by their recent product launches and mergers & acquisitions.
*Recent Developments: *
· In December 2022, The U.S. Food and Drug Administration (FDA) accepted for evaluation a New Drug Application (NDA) for etrasimod for those with moderately to highly active ulcerative colitis, according to Pfizer Inc. (U.C.).
· In March 2022, RINVOQ, a Janus kinase inhibitor from AbbVie, Inc., was approved by the U.S. FDA for treating ulcerative colitis.
*Table of Content*
1. *INTRODUCTION*
1. Market Ecosystem
2. Timeline Under Consideration
1. Historical Years – 2021
2. Base Year – 2022
3. Forecast Years – 2023 to 2031
3. Currency Used in the Report
2. *RESEARCH METHODOLOGY *
1. Research Approach
2. Data Collection Methodology
3. Data Sources
1. Secondary Sources
2. Primary Sources
4. Market Estimation Approach
1. Bottom Up
2. Top Down
5. Market Forecasting Model
6. Limitations and Assumptions
3. *PREMIUM INSIGHTS*
1. Current Market Trends (COVID-19 Perspective)
2. Key Players & Competitive Positioning (2022)
3. Regulatory Landscape
4. Reimbursement Scenario
5. Epidemiology and Patient Population (Forecast to 2031)
4. *MARKET DYNAMICS*
1. Drivers
2. Restraints/Challenges
3. Opportunities
5. *GLOBAL IBD TREATMENT MARKET - ANALYSIS & FORECAST, BY DRUG CLASS*
1. TNF Inhibitors
2. JAK Inhibitors
3. Amino-salicylates
4. Integrin Antagonists
5. Corticosteroids
6. Others
6. *GLOBAL IBD TREATMENT MARKET - ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL*
1. Hospital Pharmacies
2. Retail Pharmacies
3. Online Pharmacies
*IBD TREATMENT MARKET TOC*
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