- The IBD (ulcerative colitis and Crohn’s disease) treatment market is projected to exceed a value of US$ 34.22 Bn by 2031
- Increase in cases of ulcerative colitis globally is leading to growth opportunities in IBD (ulcerative colitis and Crohn’s disease) treatment market
WILMINGTON, Del., July 20, 2022 /PRNewswire/ — A research report by Transparency Market Research (TMR) expects the global IBD treatment market to develop at a CAGR of 6.8% during the forecast period from 2022 to 2031.
Several IBD (ulcerative colitis and Crohn’s disease) treatment manufacturers are offering attractive reimbursement plans in order to support the healthcare spending. Such initiatives are expected to impact positively on the sentiments of patients pertaining to the effectual treatment of this disease. This factor, in turn, is likely to boost the demand for IBD (ulcerative colitis and Crohn’s disease) treatment solutions in the forthcoming years.
Physicians across the globe are inclining toward prescribing TNF inhibitors for the treatment of moderate to critical ulcerative colitis. As a result, there has been increase in the investments in R&Ds focused on TNF inhibitors, note analysts of a TMR report on the IBD (ulcerative colitis and Crohn’s disease) treatment market.
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IBD (Ulcerative Colitis and Crohn’s Disease) Treatment Market: Key Findings
- The number of the global patients suffering from inflammatory bowel disease (IBD) is being increasing around the world in the recent years. This factor is leading to notable growth prospects for IBD (Ulcerative Colitis and Crohn’s Disease) treatment market.
- The global IBD (ulcerative colitis and Crohn’s disease) treatment market is being driven by factors such as increase in the approvals for novel biologic drugs for IBD and rise in the use of IBD treatment solutions in several emerging economies. Thus, the IBD (ulcerative colitis and Crohn’s disease) treatment market is expected to be valued at over US$ 34.22 Bn by 2031.
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IBD (Ulcerative Colitis and Crohn’s Disease) Treatment Market: Growth Boosters
- Rise in the prevalence of ulcerative colitis across many developed and developing nations is boosting the sales growth in the IBD (ulcerative colitis and Crohn’s disease) treatment market
- Surge in the adoption of TNF inhibitors owing to their high level of efficacy, improved therapeutic outcomes, and safety are boosting the sales growth in the market
- Increasing inclination among people toward using biosimilar or biologic drugs is foreseen to demand opportunities in the market for IBD (ulcerative colitis and Crohn’s disease) treatment
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IBD (Ulcerative Colitis and Crohn’s Disease) Treatment Market: Regional Analysis
- The IBD (ulcerative colitis and Crohn’s disease) treatment market in North America is expected to maintain its dominating position during the forecast period owing to a rise in the prevalence of Crohn’s disease and ulcerative colitis in Canada and the U.S. Moreover, the regional market is anticipated to expand at prominent pace owing to the presence of sturdy healthcare infrastructure and increase in the incidences of lifestyle-related disorders among the people from North America.
- The market in Latin America and Middle East & Africa is expected to expand at notable CAGR during the forecast period owing to an increase in the number of patients with IBD in the regions. Moreover, the market in these regions is anticipated to expand owing to rise in the focus of regional market players on the development of next-gen therapeutics.
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IBD (Ulcerative Colitis and Crohn’s Disease) Treatment Market: Key Players
Some of the key players profiled in the report are:
- Janssen Biotech, Inc. (Johnson & Johnson)
- Pfizer, Inc.
- Allergan plc
- Health Companies, Inc.
- AbbVie, Inc.
- Takeda Pharmaceutical Company Limited
- UCB, Inc.
- Novartis AG
- Biogen, Inc.
IBD (Ulcerative Colitis and Crohn’s Disease) Treatment Market Segmentation
- Drug Class
- TNF Inhibitors
- Integrin Antagonists
- Disease Indication
- Ulcerative Colitis
- Crohn’s Disease
- Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Regions Covered
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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