Inflammatory Bowel Disease Market size is set to grow by USD 7.61 billion from 2024-2028, Increasing incidence of ibd worldwide to boost the market growth, Technavio

NEW YORK, June 25, 2024 /PRNewswire/ -- The global inflammatory bowel disease market  size is estimated to grow by USD 7.61 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.48%  during the forecast period.  Increasing incidence of ibd worldwide is driving market growth, with a trend towards new launches of ibd therapeutics. However, high cost of ibd therapeutics  poses a challenge. Key market players include Abbott Laboratories, AbbVie Inc., AstraZeneca Plc, Aurobindo Pharma Ltd., Bausch Health Companies Inc., Baxter International Inc., Bayer AG, Biocon Ltd., Eli Lilly and Co., F. Hoffmann La Roche Ltd., GlaxoSmithKline Plc, Johnson and Johnson Services Inc., Lupin Ltd., Merck and Co. Inc., Novartis AG, Pfizer Inc., Sanofi SA, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., and Viatris Inc..

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Key Market Trends Fueling Growth

The global Inflammatory Bowel Disease (IBD) market is experiencing significant growth due to the introduction of new therapeutics. Pharmaceutical and biopharmaceutical companies are increasing their research and development (R&D) spending, leading to new product launches. For instance, Lupin launched Mirabegron Extended-Release Tablets in the US in April 2024, and HUMIRA (Adalimumab), a TNF blocker, received approval for pediatric use in February 2021. These advancements are expected to continue driving market expansion during the forecast period. 

The Inflammatory Bowel Disease market is experiencing significant growth due to the increasing prevalence of conditions like Crohn's disease and ulcerative colitis. Pharmaceutical companies are focusing on developing new treatments, such as biologics and immunomodulators, to address the unmet needs of patients. The use of technology, like telemedicine and digital health solutions, is also on the rise to improve patient care and accessibility. The market is competitive with key players including Inhbit Therapeutics, Janssen Pharmaceuticals, and Pfizer. Regulatory approvals and collaborations are key trends driving market growth. The market is expected to continue growing due to the high unmet medical need and ongoing research and development efforts. 

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Market Challenges

• The Inflammatory Bowel Disease (IBD) market is experiencing growth due to the increasing use of biologics and small molecules for treating chronic conditions like Crohn disease and ulcerative colitis. The average cost of these therapies, including drugs, doctor fees, and hospital visits, ranges from USD6,000 to USD32,000 per year. Biologics, which are preferred for moderate to severe IBD, cost an average of USD2,500 to USD5,500 per month. These rising patient expenses may limit the market's expansion during the forecast period. For instance, Pfizer's Xeljanz oral tablets for ulcerative colitis treatment cost around USD4,900 to USD5,000 for a 60-tablet supply.
• The Inflammatory Bowel Disease market faces several challenges. These include the high incidence and prevalence of conditions like Irritable Bowel Syndrome, Ulcerative Colitis, and Crohn's Disease. Patients require proper diagnosis and treatment, which can be complex due to the varied symptoms and causes. Pharmaceutical companies aim to provide effective solutions, such as biologics and small molecule therapies. However, the development of these treatments is costly and time-consuming. Additionally, patient compliance and access to care are significant challenges. Regulatory requirements and competition further complicate the market landscape. Overall, addressing these challenges requires a collaborative effort from all stakeholders to improve patient outcomes and advance the field of IBD research and treatment.

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Segment Overview 

This inflammatory bowel disease market report extensively covers market segmentation by

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Type 
• 2.1 Crohn's disease
• 2.2 Ulcerative colitis
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

1.1 Offline-  The offline distribution channel plays a vital role in the Inflammatory Bowel Disease (IBD) market, accounting for a significant portion of sales. Brick-and-mortar pharmacies and drugstores offer easy accessibility and convenience for consumers, who prefer immediate availability and face-to-face interactions with pharmacists. This segment benefits from consumer preferences, providing discounts, promotional offers, and personalized advice from licensed pharmacists. In regions with low Internet penetration or privacy concerns, the offline channel is essential for reaching a wider consumer base and building trust. These factors contribute to the continued demand for the offline distribution channel in the IBD market.

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Research Analysis

The Inflammatory Bowel Disease (IBD) market encompasses biological drugs that cater to conditions such as Crohn's disease and ulcerative colitis, which are characterized by environmental triggers and genetic predisposition. These diseases cause chronic inflammation in the gastrointestinal tract, leading to symptoms like abdominal pain, diarrhea, and weight loss. Biological drugs like Cimzia, Entyvio, JAK inhibitors, and Janus kinase inhibitor (Jyseleca) play a significant role in managing IBD. Industrialized countries have a high prevalence of IBD due to their healthcare systems and services, which facilitate the diagnosis and treatment of these conditions by healthcare professionals in healthcare institutes. Infections are also known to trigger IBD flare-ups, making the development of effective treatments a priority. Ferring Pharmaceuticals and Lilly are among the numerous entities involved in the research and development of IBD treatments, with CytoReason contributing through advanced analytics to improve clinical trial outcomes.

Market Research Overview

The Inflammatory Bowel Disease (IBD) market encompasses a range of chronic gastrointestinal conditions, including Crohn's disease and ulcerative colitis. These disorders are characterized by inflammation in the digestive tract, leading to abdominal pain, diarrhea, and weight loss. The global IBD market is driven by increasing prevalence rates, particularly in developed regions. Factors fueling market growth include rising awareness, improved diagnosis, and the development of novel therapeutic approaches. Entities such as biotechnology companies, academic institutions, and research organizations are actively engaged in advancing the understanding of IBD etiology and developing new treatments. The market landscape is further shaped by regulatory initiatives and reimbursement policies. Symptomatic management and disease remission are key objectives in IBD care, with a focus on optimizing patient quality of life.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• Type
• Crohn's Disease
• Ulcerative Colitis
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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SOURCE Technavio