New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Crohn’s Disease Treatment Global Market Report 2023" - https://www.reportlinker.com/p06486632/?utm_source=GNW
, Bristol-Myers Squibb Company, Galapagos NV, Gilead Sciences Inc., Johnson & Johnson, Novartis AG, Sanofi S.A., Union Chimique Belge, Amgen Inc., and Astellas Pharma Inc.
The global Crohn’s disease treatment market is expected to grow from $11.07 billion in 2022 to $11.82 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The Crohn’s disease treatment market is expected to reach $15.11 billion in 2027 at a CAGR of 6.3%.
The crohn’s disease treatment market consists of sales of vedolizumab, methotrexate, and infliximab.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Crohn’s disease treatment refers to medical intervention and therapies used to manage Crohn’s disease, a chronic pathological condition of the gastrointestinal tract. The treatment aims are to reduce inflammation in the intestines, prevent flare-ups of symptoms, and maintain recovery.
North America was the largest region in the Crohn’s disease treatment market in 2022, and is expected to be the fastest-growing region in the forecast period. The regions covered in crohn’s disease treatment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main drug types of crohn’s disease treatment include antibiotics, aminosalicylates, corticosteroids, immunomodulators, and others.Antibiotics are drugs used for the treatment and prevention of bacterial infections.
They are distributed through various channels such as hospital pharmacies, retail pharmacies, and online pharmacies for use in applications including neuropathic pain, fibromyalgia, chronic back pain, arthritic pain, migraine post-operative pain, cancer pain, and others.
The increase in the prevalence of inflammatory bowel disorders is expected to propel the growth of the Crohn’s disease treatment market going forward.Inflammatory bowel disorders refer to a group of chronic conditions involving gastrointestinal tract inflammation.
It can cause inflammation and damage to any part of the digestive system, from the mouth to the anus.Crohn’s disease helps by decreasing the inflammation of the intestine, to prevent flare-ups of symptoms, and to keep in remission.
For instance, in April 2020, according to a survey by the American Gastroenterological Association covering 33 countries on six continents regarding the prevalence of and factors associated with functional gastrointestinal disorders, among the 73,076 adult respondents, more than 40% of persons worldwide have Functional gastrointestinal disorders (FGIDs), which affect the quality of life and health care use. Therefore, the increase in the prevalence of inflammatory bowel disorders is driving the growth of the Crohn’s disease treatment market.
Product innovation is the key trend gaining popularity in the Crohn’s disease treatment market.Major companies operating in the Crohn’s disease treatment sector are focused on developing innovative products to strengthen their position in the market.
For instance, in May 2023, AbbVie Inc., a US-based pharmaceutical company, received Rinvoq (upadacitinib) approval from U.S. Food and Drug Administration (FDA). Rinvoq is indicated for treating moderate to highly active Crohn’s disease. Rinvoq’s efficacy and safety were assessed in two randomized induction studies, CD-1 (NCT03345836) and CD-2 (NCT03345849), involving 857 patients with moderately to highly active Crohn’s disease.
In March 2022, Pfizer Inc., a US-based biopharmaceutical company, acquired Arena Pharmaceuticals Inc. for a total of around $6.7 billion. This acquisition aims to expand the inflammation and immunology therapeutic area pipeline portfolio of Pfizer Inc. including atopic dermatitis, eosinophilic esophagitis, ulcerative colitis, and Crohn’s disease. Arena Pharmaceuticals Inc. is a US-based biopharmaceutical company operating in the Crohn’s disease treatment market.
The countries covered in the crohn’s disease treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The Crohn’s disease treatment market research report is one of a series of new reports that provides Crohn’s disease treatment market statistics, including Crohn’s disease treatment industry global market size, regional shares, competitors with a Crohn’s disease treatment market share, detailed Crohn’s disease treatment market segments, market trends and opportunities, and any further data you may need to thrive in the Crohn’s disease treatment industry. This Crohn’s disease treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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