SEATTLE, Sept. 21, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global inflammatory bowel disease market is estimated to be valued at US$ 1,821.8 million in 2021 and is expected to exhibit a CAGR of 4.9 % during the forecast period (2021-2028).
Key Trends and Analysis of the Global Inflammatory Bowel Disease Market:
Key trends in the market include increasing cases of inflammatory bowel diseases, increasing number of product launches, and increase in collaborative research programs.
Increasing prevalence of inflammatory bowel disease is expected to fuel the market growth of global inflammatory bowel disease market over the forecast period. For instance, according to article published in February 2021, in the Journal of Crohn’s and Colitis, the incidence of Crohn's disease (CD) in Europe ranged from 0.4 to 22.8 per 100,000 person-years, while the incidence of ulcerative colitis (UC) was generally higher, ranging from 2.4 to 44.0 per 100,000 person-years.
The increasing number of product approvals and launches is expected to bolster growth of the global inflammatory bowel disease market. For instance, February 24, 2021, AbbVie Inc., a biopharmaceutical company focused on discovering and delivering innovative medicines to address serious health issues, HUMIRA (adalimumab) has been approved by the U.S. Food and Drug Administration (FDA) for the treatment of moderately to severely active ulcerative colitis in pediatric patients five years of age and older. HUMIRA induced clinical remission at week eight in clinical trials and maintained remission at week 52 in patients who responded at week eight. HUMIRA (adalimumab) is the first and only subcutaneous biologic treatment option for pediatric patients with moderately to severely active ulcerative colitis starting at the age of five.
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Increasing number of collaborations between market players and academic research institutes leading to advancing of research programs for gastrointestinal disorders is expected to drive the growth of the global inflammatory bowel disease market. For instance, on November 23, 2020, New York University (NYU), Columbia University, and Takeda Pharmaceutical Company Limited formed a research alliance to initiate and advance gastroenterology research programs with the goal of developing new therapies for patients with gastrointestinal and liver disorders. Takeda will provide seed funding for pilot and feasibility studies at NYU and Columbia over a five-year period, with successful projects eligible to apply for additional funding for larger studies.
Key Market Takeaways:
Increasing research and development activities, rising product launches and approvals, inorganic activities such as collaborations, agreements, acquisitions, and others are expected to drive growth of the global inflammatory bowel disease market over the forecast period. For instance, in April 2019, IFM Therapeutics (IFM), a privately held biopharmaceutical company focused on developing therapies that modulate novel targets in the innate immune system, announced a definitive agreement with Novartis International AG under which Novartis, a multinational pharmaceutical company, will acquire all of IFM Tre's outstanding capital stock. Novartis will gain full access to IFM Tre's NLPR3 antagonist portfolio, which includes a pre-clinical stage gut-directed molecule for the treatment of inflammatory bowel disease.
Competitive Landscape:
Key players operating in the global inflammatory bowel disease market include Johnson & Johnson Services Inc., AbbVie Inc., Takeda Pharmaceutical Company Ltd., UCB Pharma S.A., Pfizer Inc., Bristol Myers Squibb Co., Roche Holding AG, GlaxoSmithKline Plc, Eli Lilly & Company, and Novartis International AG.
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Market Segmentation:
- Global Inflammatory Bowel Disease Market, By Drug Class:
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- Corticosteroids
- Aminosalicylates
- TNF Inhibitors
- Immunosuppressant
- Antibiotics
- Others
- Global Inflammatory Bowel Disease Market, By Disease Indication:
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- Ulcerative Colitis
- Crohn’s Disease
- Global Inflammatory Bowel Disease Market, By Route of Administration:
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- Oral
- Injectable
- Global Inflammatory Bowel Disease Market, By Distribution Channel:
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- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Inflammatory Bowel Disease Market, By Region:
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- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- North America
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- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
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- Europe
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- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
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- Asia Pacific
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- By Country
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- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
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- Middle East
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- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
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- Africa
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- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
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