Global Inflammatory Bowel Disease Market, by Drug Class (Corticosteroids, Aminosalicylates, TNF Inhibitors, Immunosuppressant, Antibiotics, and Others), by Disease Indication (Ulcerative Colitis and Crohn’s Disease), by Route of Administration (Oral and Injectable), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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).
Rising number of research and development activities with new indications is expected to drive growth of the global inflammatory bowel disease market during the forecast period. For instance, on May 22, 2021, Eli Lilly and Company, a global health care leader, announced that Mirikizumab, a humanized IgG4 monoclonal antibody that binds to Interleukin 23, improved fatigue in patients with moderately to severely active Crohn's disease (CD) at 12 weeks, as measured by the mean change in FACIT-Fatigue scores compared to placebo, with improvements lasting up to one year, in a pre-specified analysis of the Phase II SERENITY study.
Increase in number of awareness programs by market players and government organizations is expected to propel the growth of the global inflammatory bowel disease market during the forecast period. For instance, on May 19, 2020, which is celebrated as the World Inflammatory Bowel Disease (IBD) Day, colleagues at Pfizer Inc., a pharmaceutical company, decided to shine a light on the “invisible heroes” of the IBD community who encourage, educate, and empower one another: caregivers who recognize the physical and emotional impacts of these inflammatory diseases; advocates who strive for change; and, most importantly, patients who lift each other and don’t let their disease define them. The World IBD Day is an annual global initiative sponsored by the European Federation of Crohn's and Ulcerative Colitis Associations (EFCCA) to raise awareness of aspects of IBD that are frequently misunderstood and overlooked by the general public.
Global Inflammatory Bowel Disease Market- Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the global inflammatory bowel disease market. The COVID-19 pandemic has affected the demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets. 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, owing to increasing risk of severe COVID-19 due to medications of inflammatory bowel disease (IBD). For instance, according to article published in March 2021, in British Medical Journal, based on data from Surveillance Epidemiology of Coronavirus Under Research Exclusion for Inflammatory Bowel Disease (SECURE-IBD) a large, international registry, over 1400 patients with IBD from 47 countries using thiopurine monotherapy and the combination of thiopurines with TNF antagonists were found to be associated with a significantly increased risk of severe COVID-19.
Browse 33 Market Data Tables and 25 Figures spread through 167 Pages and in-depth TOC on Global Inflammatory Bowel Disease Market, by Drug Class (Corticosteroids, Aminosalicylates, TNF Inhibitors, Immunosuppressant, Antibiotics, and Others), by Disease Indication (Ulcerative Colitis and Crohn’s Disease), by Route of Administration (Oral and Injectable), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Inflammatory Bowel Disease Market:
- The global inflammatory bowel disease market is expected to exhibit a CAGR of 4.9% over the forecast period (2021-2028). North America is expected to account for major market share over the forecast period (2021-2028), owing to the rising acquisitions and contract agreements within the market players. For instance, on June 17, 2021, Synlogic, Inc., a clinical-stage company bringing the transformative potential of synthetic biology to medicine based in Massachusetts, U.S., announced the signing of a research collaboration agreement with Roche Holding AG, a multinational healthcare company, for the development of a novel Synthetic Biotic medicine for the treatment of inflammatory bowel disease (IBD). Synthetic biotic medicines are intended to be taken orally and work in the gut to convert toxic metabolites into non-toxic byproducts.
- Some of the 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.
