Global Irritable Bowel Syndrome Treatment Market, by Drug Type (Lubiprostone, Linaclotide, Eluxadoline, Rifaximin, Alosetron, and Others), by Medical Condition (IBS-constipation and IBS-diarrhea), 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$ 1,444.7 Million in 2022 and is expected to exhibit a CAGR of 13.2% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increased distribution agreements amongst the key players in the market is expected to drive the market growth over the forecast period. For instance, in May 2022, Biome Australia Limited., a company that develops, commercializes and markets innovative, evidence-based live biotherapeutics and complementary medicines, signed a distribution agreement with Australian Pharmaceutical Industries Limited, a health and beauty retailer, to sell its core range of activated probiotics across 370 pharmacies, taking its distribution footprint to roughly 3,000 stores across Australia. The live probiotics range of Biome Australia Limited. It helps prevent and support the management of health concerns, including low mood and sleep, bone health, iron malabsorption, mild eczema, and irritable bowel syndrome (IBS).
Global Irritable Bowel Syndrome Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the 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. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a positive impact on the global irritable bowel syndrome (IBS) treatment market, owing to its possible association with the COVID-19 infection. For instance, according to an article published by the National Center for Biotechnology Information, a series of databases relevant to biotechnology and biomedicine, in November 2021, an impairment of the gut microbiota composition, which is frequently associated to a dysregulation of the overall intestinal homeostasis and gut-brain axis, can participate to the development of IBS. An imbalance of the gut microbiota occurs in SARS-CoV-2-infected individuals. Therefore, it is possible that a COVID-19-induced dysregulation of the gut- microbiota may enhance predisposing circumstances for IBS.
Global Irritable Bowel Syndrome Treatment Market: Key Developments
In March 2022, metaMe Health, Inc., a Prescription Digital Therapeutics (PDT) company and developer of Regulora, the first U.S. Food and Drug Administration authorized PDT specifically for abdominal pain associated with Irritable Bowel Syndrome (IBS) in adults, announced that it had received US$ 2.2Mn in funding in a bridge round led by Hyde Park Angels (HPA), with additional investments from individuals. The funds will be used to continue preparation for Regulora’s market launch.
In August 2021, Dr. Reddy’s Laboratories Ltd., a multinational pharmaceutical company, announced the launch of chlordiazepoxide hydrochloride and clidinium bromide capsules USP, 5 mg/2.5 mg, approved by the U.S. Food and Drug Administration (USFDA). The drug is a therapeutic equivalent generic version of Librax. It is used as an adjunctive therapy in the treatment of peptic ulcer, irritable bowel syndrome (irritable colon, spastic colon, mucous colitis) and acute enterocolitis.
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Irritable Bowel Syndrome Treatment Market”- Forecast to 2030, Global Irritable Bowel Syndrome Treatment Market, by Drug Type (Lubiprostone, Linaclotide, Eluxadoline, Rifaximin, Alosetron, and Others), by Medical Condition (IBS-constipation and IBS-diarrhea), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Irritable Bowel Syndrome Treatment Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/irritable-bowel-syndrome-treatment-market-506
Moreover, increasing adoption of inorganic strategies such as acquisitions is expected to drive the market growth over the forecast period. For instance, in February 2019, Bausch Health Companies Inc., a global company whose mission is to improve people's lives with its health care products, announced the acquisition of certain assets of Synergy Pharma, a speciality pharmaceutical company, including the addition of TRULANCE to its product portfolio, which is a tablet approved for adults with irritable bowel syndrome and chronic idiopathic constipation.
Key Takeaways of the Global Irritable Bowel Syndrome Treatment Market:
- The global irritable bowel syndrome treatment market is expected to exhibit a CAGR of 13.2% during the forecast period due to the increasing adoption of inorganic strategies such as collaborations and agreements by the key players in the market for developing irritable bowel syndrome drugs. For instance, in September 2019, Ironwood Pharmaceuticals, Inc., a healthcare company, and AstraZeneca, a multinational pharmaceutical and biotechnology company, entered into an agreement, by means of which AstraZeneca gained sole responsibility for developing, manufacturing, and marketing an irritable bowel syndrome drug, LINZESS (linaclotide), a first-in-class new treatment for patients with irritable bowel syndrome with constipation (IBS-C) in China.
- Among distribution channel, the hospital pharmacies segment is estimated to hold a dominant position in the global irritable bowel syndrome treatment market over the forecast period, owing to the increased prevalence of irritable bowel syndrome. For instance, according to an article published by the National Center for Biotechnology Information, a series of databases relevant to biotechnology and biomedicine, in May 2018, irritable bowel syndrome is estimated to affect about 7% to 16% of the U.S. population.
- Among regions, North America is estimated to account for the largest market share in the global irritable bowel syndrome treatment market over the forecast period, owing to the increasing net sales of irritable bowel syndrome drugs in the region. For instance, Ironwood Pharmaceuticals, Inc., a healthcare company, earned brand status with more than US$ 1 billion in U.S. net sales in 2021 for LINZESS, a first-in-class new treatment for patients with irritable bowel syndrome with constipation (IBS-C).
- Major players operating in the global irritable bowel syndrome treatment market include Abbott, Synergy Pharma, Mallinckrodt, Bausch Health Companies Inc., Ardelyx, Astellas Pharma Inc., Novartis AG, GSK plc., Ironwood Pharmaceuticals, Inc., and Takeda Pharmaceutical Company Limited.
