DUBLIN–(BUSINESS WIRE)–The “Inflammatory Bowel Disease Drugs Market By Type, By Drug Class, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
The global inflammatory bowel disease drugs market was valued at $20,988 million in 2021 and is projected to reach $34.513.56 million by 2031 registering a CAGR of 5.1% from 2022 to 2031.
The main factors that foster the growth of the market are alarming increase in number of chronic inflammatory bowel diseases, rise in government initiatives for development of pharmaceutical industry, and increase in number of approvals for ulcerative colitis drugs.
Furthermore, according to the European Federation of Crohn’s and Ulcerative Colitis Associations (EFCCA), there were around 10 million people suffering from inflammatory bowel disease in 2020 across the world and about 3.4 million in Europe. ECCFA has collaborated with Medscape to conduct training session on biosimilars for the treatment of inflammatory bowel disease. Thus, factors such as rise in prevalence of inflammatory bowel disease and collaboration among private institutions to develop new solutions for the treatment of the diseases propels the growth of the market.
In addition, increase in approval of biosimilars such as Inflectra, Imraldi, and Hyrimoz is expected to rise the adoption of effective treatment. In addition, the presence of other drugs such as IXFI which is launch by Pfizer Inc. and Cyltezo by Boehringer Ingelheim is expected to fuel the growth of the market. For instance, in September 2019, Janssen Biotech Inc. has received an FDA approval for its STELARA (ustekinumab) drug for the treatment of ulcerative colitis.
Thus, rise in new trends in the treatment of inflammatory bowel disease drives the growth of the market. According to the Indian Journal of Medical Research, in 2021, the prevalence of inflammatory bowel disease has increasing due to lack of hygiene. The study shows that around 200 Crohn’s disease patients from Vellore, India. Thus, rise in issues regarding to personal hygiene drives the growth of the market.
Moreover, development of pharmaceutical industries and improvement in healthcare spending are anticipated to drive the growth of the inflammatory bowel disease drugs market. Presently, people are more aware of health, which, in turn, compels them to maintain their health condition and increase the demand for treatment of ulcerative colitis drugs. This has encouraged many key players to enter emerging market, thus offering lucrative growth opportunities in the inflammatory bowel disease drugs market.
Key Market Segments
- Ulcerative Colitis
- Crohns Disease
By Drug Class
- TNF inhibitors
- JAK inhibitors
- IL inhibitors
By Distribution Channel
- Hospital Pharmacy
- Drug Store and Retail Pharmacy
- Online Pharmacy
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Takeda Pharmaceutical Company Limited
- AbbVie Inc.
- Pfizer Inc.
- UCB S.A.
- Johnson & Johnson Services, Inc.
- Novartis AG
- Bristol Myers Squibb
- Merck & Co. Inc.
- Celltrion Healthcare Co.,Ltd.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: INFLAMMATORY BOWEL DISEASE DRUGS MARKET, BY TYPE
CHAPTER 5: INFLAMMATORY BOWEL DISEASE DRUGS MARKET, BY DRUG CLASS
CHAPTER 6: INFLAMMATORY BOWEL DISEASE DRUGS MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: INFLAMMATORY BOWEL DISEASE DRUGS MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/rvsohx
Laura Wood, Senior Press Manager
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