December 8, 2024
Inflammatory Bowel Disease Market

The Global Inflammatory Bowel Disease Market driven by rising prevalence rates of Ulcerative Colitis and Crohn’s Disease

Inflammatory Bowel Disease (IBD) refers to chronic disorders that cause inflammation and ulcers in the digestive tract. The two most common types of IBD are ulcerative colitis and Crohn’s disease. Ulcerative colitis affects the large intestine (colon) alone, causing ulceration and abscesses in the lining. Whereas Crohn’s disease can impact any part of the digestive tract from mouth to anus and often results in transmural inflammation that penetrates deep into the intestinal wall. Both the diseases are lifelong conditions that cause severe abdominal pain, diarrhea, rectal bleeding, fatigue, and weight loss. Common symptoms of IBD diminish the quality of life of patients and require proper treatment through drugs, surgery, or nutrition changes. Biologics and immune modulators are preferred treatments for effectively controlling inflammation and inducing remission. IBD has no cure and managing the symptoms is crucial for improved outcomes.

The global Inflammatory Bowel Disease Market is estimated to be valued at US$ 22.4 billion in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The key trends driving the global IBD market growth include increased research on finding personalized therapies and precision medicines for IBD patients. Researchers are studying genetic mutations and variants among different populations to identify specific gene targets and develop newer drugs for distinct patient subgroups. Advancements in gut microbiome research to understand the role of gut bacteria in etiology is also fueling new drug development focusing on modulating gut microflora. Development of novel drug delivery routes like subcutaneous injections and oral capsules are gaining popularity over intravenous infusions for improved treatment compliance. This is expected to boost the adoption of recently approved drugs and emerging pipeline candidates for IBD in the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to high R&D costs involved in developing new drugs.
Bargaining power of buyers: The bargaining power of buyers is high due to presence of many established players.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of substitute components.
Threat of new substitutes: The threat of new substitutes is high as researchers focus on developing novel biologics and biosimilars.
Competitive rivalry: The competition is high among leading players to gain higher market share.

Key Takeaways
Global Inflammatory Bowel Disease Market Size is expected to witness high growth. Regional analysis

Regional analysis: Europe dominates the global inflammatory bowel disease market and is expected to continue its dominance during the forecast period. High prevalence of Crohn’s disease and ulcerative colitis along with rising funding for research activities are driving the European market.

Key players operating in the Inflammatory Bowel Disease market are Johnson & Johnson, AbbVie, Takeda Pharmaceutical, Roche, Warner Chilcott, Salix Pharmaceuticals, Takeda, and Eli Lilly.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

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