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Inflammatory Bowel Disease Treatment Market size is poised to exhibit notable growth from 2022 to 2028 with the ongoing research and development activities across biopharmaceutical companies. The companies are largely focusing on the production of effective medication and therapeutic solutions for IBD which represents a set of intestinal disorders causing prolonged inflammation of digestive tract.
The increasing incidences of IBD across the globe have created a significant demand for IBD treatment solutions which, in turn, is stimulating new product developments and approvals. Such initiatives coupled with rising product demand are expected to propel the industry growth in the forthcoming years.
Based on disease indication, IBD treatment market is bifurcated into Ulcerative Colitis and Crohn’s disease segments. Crohn’s disease segment is estimated to observe a significant expansion during the forecast timeline owing to the increasing cases of the disease. According to Crohn’s & Colitis UK estimates, about one in every 650 residents of the country are affected by the disease. A higher prevalence of the disease is observed in developed countries of North America and Northern Europe which will impel the demand for the treatment solutions and foster segment growth over the following years.
With regards to the distribution channel, retail pharmacies segment is projected to grow considerably in the subsequent years. This can be attributed to the expansion of various retail pharmacy chains globally which is facilitating the easy availability of IBD medication. For instance, the renowned pharmacy chain in the U.S., Walgreens Boots Alliance Inc. announced to invest around USD 5.5 billion in two small-scale health care providers. The company claimed that this strategic move will allow it to provide pharmacy and primary care services at home, in-store, at doctor's offices, and mobile app.
North America inflammatory bowel disease treatment market is poised to witness substantial growth over the forecast period led by the increasing cases of IBD in the region. According to a report by Crohn’s and Colitis Foundation of America, nearly 70,000 cases of IBD are diagnosed every year in the U.S. The rising need for IBD treatment coupled with increasing efforts by the market players for the development and regulatory approval is favoring the industry expansion. For instance, in 2020, the US Food and Drug Administration (FDA) approved Bristol Myers Squibb’s Zeposia for the treatment of adults with moderate to severe Ulcerative Colitis.
The key leaders operating in global market include Johnson & Johnson, Pfizer, Takeda Pharmaceutical Company, CELGENE (Bristol Myers Squibb), Celltrion Healthcare, AbbVie, COSMO PHARMACEUTICALS, Gilead Sciences, and Innovate Biopharmaceuticals (9 Meters Biopharma, Inc.).
These market participants are largely focusing on the development of novel products as well as geographic expansion of their businesses which is predicted to positively impact the industry progression.
Quoting an instance, in 2020, Takeda Pharmaceutical Company’s gut selective biologic Entyvio® received approval from China’s National Medical Products Administration. According to the company, the approved indications are designed for adult patients with moderate to severely active Crohn's disease or ulcerative colitis who have had an inadequate response to the conventional therapies.
The COVID-19 pandemic is known to have made a serious impact on the medical systems, public health, economy, and social situations which have made a significant influence on the medical care systems for the IBD patients. The formulation of a worldwide registration system in conjunction with the accumulated experience has supported IBD care under the pandemic which will enhance the market outlook over the coming years.
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Market, By Disease Indication
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