Inflammatory Bowel Disease Treatment Market Analysis
The Inflammatory Bowel Disease Treatment Market size is likely to grow at a 2.5% CAGR between 2018- 2023, according to the new report by Market Research Future (MRFR). Inflammatory bowel disease or IBD is caused when the immune system attacks harmless bacteria, virus, or foods in the intestine. The IBD treated helps reduce the inflammation, which triggers the signs and symptoms.
Various factors are propelling the global inflammatory bowel disease treatment market growth. According to the new MRFR report, such factors include burgeoning popularity of probiotic and prebiotic foods, rising number of drugs in clinical trials, growing cases of depression and anxiety, initiatives by the government for R&D on the discovery of novel drugs, advancements in medical technology, and rising patient pool.
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On the contrary, strict drug regulatory policies, unsatisfactory effectiveness of treatments, the effect of the COVID-19 pandemic, and high capital investment needed for drug discovery are factors that may limit the global inflammatory bowel disease treatment market growth over the forecast period.
Inflammatory Bowel Disease Treatment Market Segmentation
The MRFR report gives an inclusive segmental analysis of the global inflammatory bowel disease treatment market report based on end user, distribution channel, disease indication, and drug class.
By drug class, the global inflammatory bowel disease treatment market is segmented into corticosteroids, immunomodulators, aminosalicylates, and TNF inhibitors. Of these, the aminosalicylates segment will lead the market over the forecast period.
By disease indication, the global inflammatory bowel disease treatment market is segmented into Crohn’s disease and ulcerative colitis. Of these, the Crohn’s disease segment will dominate the market over the forecast period.
By distribution channel, the global inflammatory bowel disease treatment market is segmented into online pharmacy, retail pharmacy, and hospital pharmacy. Of these, the hospital pharmacy segment will have a major share in the market over the forecast period.
By end user, the global inflammatory bowel disease treatment market is segmented into hospitals & clinics, & others. Among these, hospitals & clinics will have lions share over the forecast period.
Inflammatory Bowel Disease Treatment Market Regional Analysis
Based on the region, the global inflammatory bowel disease treatment market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific (APAC), & the Middle East and Africa. Among these, the Americas will lead the market over the forecast period. Rising prevalence of Crohn’s disease and ulcerative colitis, increasing patient pool, availability of good healthcare infrastructure, presence of top industry players, and growing awareness about fitness are adding to the global inflammatory bowel disease treatment market growth in the region.
In Europe, the inflammatory bowel disease treatment market is predicted to hold the second-largest share over the forecast period. The presence of established healthcare infrastructure, increasing funding for R&D in advanced medical treatment options, favorable government initiatives, and increasing cases of depression & anxiety in adults are adding to the inflammatory bowel disease treatment market growth in the region. Besides, the rising prevalence of inflammatory bowel disease due to unhealthy lifestyle habits and increasing alcohol abuse rates in adults are also adding market growth.
In the APAC region, the inflammatory bowel disease treatment market is predicted to grow at a fast pace over the forecast period. Favorable initiatives by the government for healthcare reform, friendly drug-regulatory policies, the exponential increase in the patient population, sedentary lifestyle, rising abuse of alcohol, and increasing prevalence of patients that are diagnosed with depression and anxiety are adding to the global inflammatory bowel disease treatment market growth in the region.
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In the MEA, the inflammatory bowel disease treatment market is likely to have the smallest share over the forecast period due to restricted availability & access to treatment facilities, lack of awareness, and less cases of inflammatory bowel disease in the region.
Inflammatory Bowel Disease Treatment Market Key Players
Key players profiled in the global inflammatory bowel disease treatment market report include Allergan plc, Pfizer Inc., Biogen Inc., Takeda Pharmaceutical Company Limited, UCB Inc, AbbVie, Inc., Alkem Laboratories Limited, Janssen Biotech, Inc., Novartis AG, Valeant Pharmaceuticals International, and Abbott Laboratories.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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