WILMINGTON, DE / ACCESSWIRE / July 11, 2023 / The global IBD (Ulcerative Colitis and Crohn's Disease) treatment market is projected to flourish at a CAGR of 6.8% from 2022 to 2031. As per the report published by TMR, the global IBD (Ulcerative Colitis and Crohn's Disease) treatment market is expected to exceed a value of US$ 34.22 billion by 2031. The market was valued at US$ 17.3 billion in 2021.
The changing lifestyles, environmental influences, and increasing prevalence of ulcerative colitis and Crohn's disease are expected to drive the demand for IBD (Ulcerative Colitis and Crohn's Disease) treatment globally. The increasing use of biologic and biosimilar drugs, drug approvals, and innovations in product development are expected to boost the market for IBD (Ulcerative Colitis and Crohn's Disease) treatment.
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The growing patient population and increased demand for effective treatments, and increasing healthcare expenditure on IBD treatment globally driving the growth of the IBD (Ulcerative Colitis and Crohn's Disease) treatment market during the forecast period.
The availability of funding and reimbursement support for IBD treatments contributes to market growth, as governments, insurance providers, and healthcare systems are allocating more resources to address the needs of IBD patients.
Key Takeaways from the Market Report
- As of 2023, IBD (Ulcerative Colitis and Crohn's Disease) treatment market is forecast to reach US$ 20.2billion
- By drug class, the TNF inhibitor segment is expected to account for key market share in 2023
- By disease infection, the ulcerative colitis segment leads the global market during the forecast period.
- Based on the distribution channel, the retail pharmacies segment is likely to lead the global landscape during the forecast period due to an increase in the sale of biological drugs through the retail chain.
- North America is projected to be the lucrative market for the IBD (Ulcerative Colitis and Crohn's Disease) treatment.
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Ventilation Fan Market: Prominent Drivers and Trends
- The Increasing awareness about ulcerative colitis and Crohn's disease among both healthcare professionals and the general population drives the market growth during the forecast period
- Increasing research & development activities and introduction of new therapies for IBD and advancement in biotechnology offer an opportunity for market expansion.
- Improved diagnostic techniques, including endoscopy, imaging, and biomarker testing, enable earlier and more accurate diagnosis of IBD and contribute to the market for the IBD (Ulcerative Colitis and Crohn's Disease) treatment.
IBD (Ulcerative Colitis and Crohn's Disease) Treatment Market- Regional Analysis
- North America dominates IBD (Ulcerative Colitis and Crohn's Disease) treatment market due to the high prevalence of Ulcerative Colitis and Crohn's Disease. The presence of well-established healthcare infrastructure in the United States and Canada represents a significant market for IBD treatment. North America is characterized by a strong emphasis on research and development, access to advanced therapies, and the availability of specialized healthcare centers dedicated to IBD management.
- The Asia Pacific region is witnessing an increasing prevalence of Ulcerative Colitis and Crohn's Disease and the IBD treatment market. The market growth is driven by improving healthcare infrastructure, rising awareness about IBD, and an increasing focus on specialized IBD care centers in countries like China, India, Japan, and South Korea. Access to advanced therapies and specialized healthcare may vary across different countries in the region.
Transparency Market Research has profiled the following players in its global IBD (Ulcerative Colitis and Crohn's Disease) treatment market report:
- Pfizer, Inc.
- Janssen Biotech, Inc. (Johnson & Johnson)
- Health Companies, Inc.
- Allergan plc
- Takeda Pharmaceutical Company Limited
- AbbVie, Inc.
- Novartis AG
- UCB, Inc.
- Biogen, Inc.
AbbVie has developed several biologic therapies for the treatment of IBD, including Humira (adalimumab). In recent years, AbbVie has been focusing on the development of next-generation biologic therapies, such as risankizumab and upadacitinib, which have shown promising results in clinical trials for the treatment of Crohn's disease and ulcerative colitis.
Janssen Biotech, a subsidiary of Johnson & Johnson, has been involved in the development of biologic therapies for IBD. Their leading product, Remicade (infliximab), has been widely used for the treatment of Crohn's disease and ulcerative colitis. Janssen Biotech has also been researching and developing new therapeutic options, including Stelara (ustekinumab) and Simponi (golimumab), which have shown efficacy in clinical trials for IBD treatment.
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IBD (Ulcerative Colitis and Crohn's Disease) treatment Market: Segmentation
- TNF Inhibitors
- Integrin Antagonists
- Ulcerative Colitis
- Crohn's Disease
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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