INFLAMMATORY BOWEL DISEASE MARKET ANALYSIS

Inflammatory bowel disease (IBD) refers to a group of disorders characterized by chronic inflammation of the digestive tract. Types of inflammatory bowel diseases include ulcerative colitis and Crohn’s disease. Ulcerative colitis is the condition that causes inflammation and sores (ulcers) along the superficial lining of the large intestine (colon) and rectum. Crohn's disease is a type of IBD which is distinguished by inflammation of the digestive tract's lining, which frequently involves the deeper layers of the digestive tract. Signs and symptoms of both Crohn's disease and ulcerative colitis include diarrhea, fatigue, and abdominal pain and cramping, reduced appetite, and unintended weight loss.

The first step in IBD treatment is anti-inflammatory medication. These medications aid in the reduction of digestive tract inflammation. Corticosteroids such as prednisone and 5-ASA drugs (amino salicylates) like mesalamine reduce inflammation, primarily in the small intestine and colon. Biologics such as infliximab (remicade) and adalimumab (humira) are aimed at neutralizing proteins in the body that cause inflammation. Some medications, such as anti-diarrheal medications or pain relievers, may help relieve your signs and symptoms in addition to controlling inflammation.

Global Inflammatory Bowel Disease Market - Impact of the Coronavirus (COVID-19) Pandemic

Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 182 million cases and 3.95 million deaths due to coronavirus disease (COVID-19) were reported till July 2, 2021, across the globe.

Impact of COVID-19 on Demand and Supply of Inflammatory Bowel Disease Treatment

The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Several countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products. The management of inflammatory bowel disease (IBD) has been severely impacted by the COVID-19 pandemic, with strictly limited hospitalizations and delaying diagnostic procedures. Thus, impact of the Coronavirus (COVID-19) pandemic is expected to limit the growth of the global inflammatory bowel disease market during the forecast period. For instance, according to article published in April 2020, in the Lancet, Coronavirus (COVID-19) pandemic is altering the treatment of various chronic diseases, including inflammatory bowel disease patients (IBD). Routine endoscopy, in particular, has been temporarily suspended, and only emergency endoscopy is permitted in several countries where the severe acute respiratory syndrome Coronavirus 2 (SARS-CoV-2) has spread. In the midst of the pandemic, there are currently no specific endoscopic recommendations for patients with IBD based on direct evidence. Patients with IBD were advised to follow the World Health Organization (WHO)'s general public health measures, particularly those on systemic corticosteroids, thiopurine, and biologics, as they are considered to be moderate-to-high risk patients who are susceptible to COVID-19 and its complications.

The global inflammatory bowel disease market is estimated to be valued at US$ 1,821.8 Mn in 2021, and is expected to exhibit a CAGR of 4.9 % over the forecast period (2021-2028).

Figure 1: Global Inflammatory Bowel Disease Market Share (%) Analysis, By Drug Class, 2021

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The prevalence of inflammatory bowel diseases is the major factor that is expected to drive the growth of global inflammatory bowel disease market over the forecast period.

The emerging prevalence of inflammatory bowel diseases is expected to bolster the growth of global inflammatory bowel disease market. For instance, according to the article published in January 2020, in The Lancet Gastroenterology & Hepatology, there were 68 million cases of IBD worldwide in 2017. The age-standardized prevalence rate rose from 795 per 100,000 people in 1990 to 843 per 100,000 people in 2017.

Research and Development Activities

Increasing number of clinical trials for treatment of inflammatory bowel disease is expected to aid in the growth of the global inflammatory bowel disease market over the forecast period. For instance, on January 07, 2021, AbbVie Inc., a biopharmaceutical company focused on discovering and delivering innovative medicines to address serious health issues, announced positive results from two Phase III induction studies, ADVANCE and MOTIVATE, demonstrating that both doses of risankizumab (600 mg and 1200 mg), an interleukin-23 (IL-23) inhibitor, met both primary endpoints of clinical remission and endoscopic response at week 12 in adult patients with moderate to severe Crohn's disease.

Global Inflammatory Bowel Disease Market – Regional Analysis

On the basis of region, the global inflammatory bowel disease market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to hold dominant position in the global inflammatory bowel disease market over the forecast period, owing to product launches and approvals. For instance, on May 27, 2021, Bristol Myers Squibb Co., a multinational pharmaceutical company, announced that the U.S. Food and Drugs Administration (FDA) has approved Zeposia (ozanimod) 0.92 mg for the treatment of adults with moderately to severely active ulcerative colitis (UC), a chronic inflammatory bowel disease (IBD). Zeposia, is the first and only oral sphingosine one-phosphate (S1P) receptor modulator approved for patients with moderate to severe UC.

Moreover, due to validation of product marketing applications by European regulatory authorities for the treatment of heart diseases, Europe is expected to witness a significant growth in global inflammatory bowel disease market over the forecast period. For instance, on November 02, 2020, Gilead Sciences Inc., a research based biopharmaceutical company and Galapagos NV, an Europe based pharmaceutical company, announced that the application for a new indication to the approved license for filgotinib 200 mg, an oral JAK1 preferential inhibitor, has been validated and is now being reviewed by the European Medicines Agency (EMA). The proposed indication is for the treatment of adults with moderately to severely active ulcerative colitis (UC) who have had an inadequate response to previous biological therapies.

Figure 2: Global Inflammatory Bowel Disease Market Value (US$ Mn), by Region, 2021

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Global Inflammatory Bowel Disease Market – Competitive Landscape

Major 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.