INFLAMMATORY BOWEL DISEASE MARKET ANALYSIS

The side effects associated with various inflammatory bowel disease therapies can hamper the global inflammatory bowel disease market growth. Many of the existing treatment options for conditions like Crohn's disease and ulcerative colitis have severe adverse effects that can negatively impact patients' quality of life. Corticosteroids are commonly used as the first line of treatment for inducing remission during flare-ups of IBD. However, long term use of corticosteroids is associated with several problems like weight gain, mood swings, diabetes, high blood pressure, osteoporosis, cataracts, and others. Their use is often limited to achieving remission from acute symptoms. Biologics like anti-TNF therapies have also revolutionized IBD management but these injectable drugs also have a risk of side effects ranging from injection site reactions, headache and nausea to rare but serious infection risks that require long term monitoring. Immunosuppressants used in combination with biologics to maintain remission too have challenges. Drugs like azathioprine cause adverse gastrointestinal reactions and risk of infection in many patients. Their use further increases the vulnerability to opportunistic infections. All these side effect concerns often lead to non-adherence to treatment protocols. Many patients discontinue medications on their own or demand alternative options. This adversely impacts the potential for repeat prescriptions and growth for pharmaceutical companies.

Market Opportunities: Development of novel biologics and biosimilars

The development of novel biologics and biosimilars can offer opportunities for the global inflammatory bowel disease market growth. Biologics have transformed the treatment of various chronic inflammatory conditions over the last few decades. These complex large molecule drugs offer targeted mechanisms of action with greater effectiveness and fewer side effects compared to traditional small molecule drugs. In the case of inflammatory bowel diseases like Crohn's disease and ulcerative colitis, several biologics targeting tumor necrosis factor alpha (TNFα) like infliximab, adalimumab and golimumab along with novel targets like integrins (vedolizumab) and interleukins (ustekinumab) have shown positive results in achieving remission and mucosal healing in patients with moderate to severe forms of the disease. However, high cost of these biologic therapies has been a major barrier to widespread adoption across countries. This is where biosimilars come into play with their reduced costs while maintaining similar safety and efficacy. The patent expiries of some of the blockbuster biologics in the near future can increase competition from biosimilars. For example, Humira, the bestselling drug worldwide, lost its exclusivity in European markets in 2018. This has led to over 80% price reductions with the introduction of biosimilar versions. Similarly, remicade's exclusivity will expire in key markets by 2023. This influx of affordable biosimilar options can boost the adoption rate of biologic therapies, with an estimated over 60% of prescriptions being accounted for by biosimilars by 2025 according to the WHO.