Global inflammatory bowel disease market is estimated to witness high growth owing to increasing prevalence and new product launches
Global inflammatory bowel disease market is estimated to be valued at USD 22.31 Bn in 2024, exhibiting a CAGR of 4.4% over the forecast period (2024-2031). The market growth is driven by increasing prevalence of inflammatory bowel diseases such as ulcerative colitis and Crohn's disease across the globe. Furthermore, continuous launch of innovative biologics for treatment of these chronic conditions can also drive the market growth.
Market Dynamics:
Global inflammatory bowel disease market growth is primarily driven by increasing prevalence of these conditions and the introduction of novel biologics. Rising global incidence of ulcerative colitis and Crohn's disease can boost demand for enhanced treatment options and medications over the forecast period. Introduction of targeted biologics like anti-TNF drugs and anti-integrin drugs by major players can drive the market growth. These biologics offer superior safety, efficacy, and targeted therapeutic responses as compared to conventional drugs. For example, the launch of anti-TNF agents such as Humira and Remicade has significantly transformed IBD treatment. Ongoing development of new mechanisms of action can offer fresh opportunities for market participants in the near future.
Market Driver: Rising Prevalence of Inflammatory Bowel Disease
Global inflammatory bowel disease market growth is primarily driven by rising prevalence of inflammatory bowel diseases such as Crohn's disease and ulcerative colitis across the world. According to World Gastroenterology Organisation, the prevalence of inflammatory bowel disease is highest in developed countries such as North America and Europe. However, prevalence of these diseases is increasing rapidly in developing nations of Asia and South America due to adoption of western lifestyle and diet. Increased risk factors coupled with lack of healthy foods has significantly contributed to rising number of inflammatory bowel disease patients globally. This high prevalence rate has boosted demand for effective treatment solutions and drugs for managing the symptoms of these chronic gastrointestinal disorders.
Market Driver: Research & Development of Advanced Therapies
Extensive research focusing on development of safer and more effective treatment options for inflammatory bowel disease can drive the market growth. Pharmaceutical companies are increasingly investing in R&D activities to develop novel biologic drugs with less severe side effects. Advancements in drug delivery technologies and development of targeted drug delivery systems can enhance treatment outcomes. For example, development of biosimilar drugs, gut-selective anti-inflammatory therapies, and pipeline drugs in clinical trials can revolutionize IBD treatment in the near future. Growing clinical trials for evaluating new compounds and treatment regimens can drive the market growth.
Market Restraint: High Cost of IBD Therapies
Global inflammatory bowel disease market growth can be hampered by high cost associated with IBD treatments. Biologics represent an important class of drugs used for management of moderate to severe cases of Crohn's disease and ulcerative colitis. However, biologics are very expensive and have a negative impact on the affordability of treatment. For instance, a single dose of infliximab costs around US$ 2,000- US$ 3,000 and requires long-term administration. Healthcare systems of underdeveloped countries lack adequate reimbursement policies and universal health coverage for expensive IBD therapies. This makes treatment unaffordable for many patients suffering from these chronic conditions.
Market Restraint: Presence of Alternative Treatment Options
Availability of alternative cost-effective treatment approaches can hamper the global inflammatory bowel disease market growth. For management of mild to moderate IBD cases, alternative options such as nutritional therapies, probiotics, antidepressants, and 5-aminosalicylic acid medicines are widely adopted. These treatment alternatives represent affordable first-line choices and avoid the need for costlier IBD drugs. Herbal supplements and Ayurvedic formulations are also gaining popularity in certain regions due to their effectiveness and minimal side effects. Such alternative remedies can pose challenges for pharmaceutical companies in terms of revenue generation from core IBD drugs.
Market Opportunity: Emergence of Biologics Biosimilars
Emergence of biosimilar drugs can offer growth opportunities for companies operating in the market. Biosimilars provide affordable treatment alternatives to existing branded biologics whose patents are nearing expiration. Introduction of biosimilar versions of infliximab, adalimumab and golimumab can reduce treatment costs to a significant extent. Biosimilar drugs are anticipated to enhance access to biologic therapy for more IBD patients who cannot currently afford branded products. Increasing regulatory approvals and commercial availability of biosimilar versions of blockbuster IBD biologics can drive the market growth.
Market Opportunity: Expanding Patient Base in Emerging Markets
Rising burden of inflammatory bowel diseases in developing regions of Latin America, Asia Pacific and Middle East & Africa presents substantial opportunities for global market stakeholders. These emerging markets are characterized by large population bases and growing healthcare expenditure. However, awareness and diagnosis rates for IBD remain relatively low in these areas compared to developed markets. Significant untapped patient population coupled with increasing discretionary spending on healthcare gives ample room for market players to tap new customers. Moreover, these areas offer scope for introduction of affordable generic and biosimilar treatment options. Injecting resources towards awareness programs and capturing a share in developing markets can boost the overall revenues.
Link: https://www.coherentmarketinsights.com/market-insight/inflammatory-bowel-disease-market-4634
Key Developments
- In May 2024, Johnson & Johnson Services Inc. announced positive phase 3 results for Tremfya in its Crohn’s disease program, demonstrating superiority over Stelara in all endoscopic patients in the trial
- In April 2024, Takeda Pharmaceutical Company Limited received FDA approval for the subcutaneous administration of Entyvio following induction therapy with intravenous Entyvio, for treating patients with severely active Crohn’s Disease
- In October 2023, Johnson & Johnson Services Inc. reported phase 3 trial data for Tremfya in active ulcerative colitis, showing a 77% overall clinical response rate and early symptom improvement
- In June 2023, Lilly's Omvoh (mirikizumab) received market authorization from the U.K.'s MHRA for treating ulcerative colitis
- In February 2023, AbbVie announced that the U.K.'s MHRA had approved RINVOQ, a JAK inhibitor, for moderate to severe Crohn's disease in patients who did not respond adequately to conventional therapy
- In January 2023, Inotrem, a clinical-stage biotechnology company, received funding from the Crohn's & Colitis Foundation to support the development of innovative therapeutic approaches for Crohn's disease and ulcerative colitis
Key Players: AbbVie Inc., Johnson & Johnson Services, Inc., Takeda Pharmaceutical Company Limited, Biogen, Amgen Inc., UCB S.A., Novartis AG, Merck & Co., Inc., Pfizer Inc., Eli Lilly and Company, Gilead Sciences, Bausch Health Companies Inc., Celltrion Healthcare Co., Ltd., CELGENE CORPORATION, COSMO PHARMACEUTICALS, Innovate Biopharmaceuticals, Sandoz, Horizon Therapeutics
