June 13, 2024
Inflammatory Bowel Disease Market

Inflammatory Bowel Disease Market Is Expected To Be Flourished By Rising Geriatric Population With IBD

The inflammatory bowel disease (IBD) market comprises drugs used for the treatment of inflammatory bowel diseases such as ulcerative colitis and Crohn’s disease. IBD is characterized by chronic and relapsing inflammation of the gastrointestinal tract. The main symptoms include abdominal pain, diarrhea, and bleeding. The exact causes of IBD are currently unknown but may involve genetic and environmental factors leading to abnormal responses in the immune system. The global IBD market is dominated by anti-inflammatory drugs such as 5-aminosalicylic acid, corticosteroids, immunomodulators, and biologics. Advancements in biologics have revolutionized the treatment landscape, providing efficient disease management through targeted mechanisms.

The global inflammatory bowel disease Market is estimated to be valued at US$ 2309.43 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

Rising geriatric population susceptible to inflammatory bowel diseases (IBD) acts as a key driver for the global IBD market. According to the National Institutes of Health (NIH), people 60 years and older account for nearly 60% of all cases of Crohn’s disease in the Western world. This is because the immune system tends to weaken with age, making older individuals more prone to inflammatory conditions like IBD. Another important driver fueling demand is the growing adoption of anti-TNF biologics for moderate to severe IBD cases. Advanced biologics provide more targeted treatment and improved efficacy compared to conventional drugs. Their ability to induce and maintain remission along with a better safety profile has resulted in increased uptake among IBD patients and physicians globally.

Segment Analysis

The Global Inflammatory Bowel Disease Market Size can be segmented by disease type into ulcerative colitis and Crohn’s disease. Currently, the Crohn’s disease segment dominates the market owing to the rising incidence rates of Crohn’s disease globally. Crohn’s disease affects any part of the gastrointestinal tract from mouth to anus and causes symptoms like abdominal pain, diarrhea, and weight loss.

PEST Analysis

Political: Governments in various countries are focusing on improving healthcare infrastructure and providing appropriate treatment options for IBD through favorable reimbursement policies.
Economic: Rising disposable incomes and growing health awareness is driving individuals to opt for expensive IBD treatment options. Additionally, favorable research funding environment is boosting drug innovation.
Social: Growing cases of IBD due to changing lifestyle and diet habits is increasing the social and economic burden associated with the disease. This is propelling research to develop cost-effective treatments.
Technological: Biologic therapies targeting specific molecules have emerged as an effective treatment approach for managing IBD symptoms. Ongoing R&D is exploring advanced diagnostic techniques and novel drug delivery mechanisms to enhance patient outcomes.

Key Takeaways

The global Inflammatory bowel disease market is expected to witness high growth over the forecast period of 2024 to 2031. The global Inflammatory Bowel Disease Market is estimated to be valued at US$ 2309.43 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031.

Regional analysis reveals that North America currently holds the largest share in the global market due to strong reimbursement policies and growing healthcare expenditure in the US.

Key players operating in the Inflammatory bowel disease market are Pfizer Inc., Atom pharma, Perrigo Company plc, Johnson and Johnson Services, Inc., Merck KGaA, Actavis Pharma, Inc., Apotex Inc., UltiMed Inc., DS LABORATORIES, INC., Taisho Pharmaceutical Co., Ltd., NIKSAN PHARMACEUTICAL, SALVAVIDAS PHARMACEUTICAL PVT. LTD., Maruti Futuristic Pharma Pvt. Ltd., Sun Pharmaceutical Industries Ltd., Dr. Reddy€TMs Laboratories Ltd., Lupin, Steris Healthcare PVT Ltd, Salvus Pharma, Unison Pharmaceuticals Pvt Ltd , Par Pharmaceutical, and QndQ Derma. Key players are focused on expanding their product portfolios by developing novel targeted therapies.

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