The global Crohn’s Disease Treatment Market, by Drug Type (Antibiotics, Amino Salicylates, Corticosteroids, Immunomodulators & Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacy and e-Commerce), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 9.4 billion in 2017 and is projected to exhibit a CAGR of 4.3% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights. Crohn’s Disease Treatment market is expected to gain significant traction over the forecast period, owing to increasing number of patients suffering from gastrointestinal tract diseases. According to the Centers of Disease Control and Prevention, in 2016, approximately 34 million Americans were reported to be afflicted from diseases of the digestive system.
North America and Europe to dominate Crohn’s disease treatment market owing to high incidence and prevalence of the disease
The North America and Canada collectively has the highest incidence and prevalence rates of inflammatory bowel disease and Crohn’s disease in the world. According to a study published in the Lancet in October, 2017, around 319 and 322 cases of Crohn’s disease per 1, 00,000 people were reported in the U.S. and Europe respectively. Moreover, according to the Crohn’s and Colitis Foundation, approximately 1.6 million Americans were reported with inflammatory bowel disease in 2011 and around 70,000 new cases are diagnosed each year. Moreover, the new therapies such as biosimilars developed by the market players are also expected to contribute to the growth of global Crohn’s disease market. For instance, in 2017, the U.S. FDA granted approval Cyltezo, developed by Boehringer Ingelheim International GmbH, which is a biosimilar to Humira, for the treatment of Crohn’s disease and ulcerative colitis. Moreover, Pfizer, Inc. also received approval for another therapy Ifixi which is a monoclonal antibody biosimilar to Janssen’s Remicade for the treatment of Crohn’s disease.
Browse 34 Market Data Tables and 38 Figures spread through 150 Pages and in-depth TOC on “Crohn’s Disease Treatment Market”- by Drug Type (Antibiotics, Amino Salicylates, Corticosteroids, Immunomodulators & Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacy and e-Commerce), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026
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Crohn’s disease treatment market is expected to exhibit significant growth, owing to increasing new product launches by key players as well as a large number of drugs completing successful clinical trial phases to receive market approvals. For instance, in September 2016, Johnson & Johnson received FDA approval for the company’s blockbuster drug Stelara for use in adults indicated in treatment of Crohn’s disease in the U.S. In April 2018, Qu Biologics, a Vancouver Canada based biopharmaceutical manufacturer successfully passed through the Phase I clinical trials of FDA and initiated Phase II studies for development of site specific Immunomodulators for the treatment of Crohn’s disease.
Additionally, rising initiatives to spread awareness and conduct educational campaigns undertaken various organizations is also expected to support the market growth in the forecast years. For instance, in July 2016, Takeda and Crohn’s Colitis Foundation of America partnered to introduce “IBD Unmasked” to share stories of patients suffering with the disease for creating awareness and education among populace in the U.S.
Key Takeaways of Crohn’s Disease Treatment Market:
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