Global Irritable Bowel Syndrome Treatment Market is Estimated to Witness High Growth Owing to Rising Global Prevalence and Increasing Diagnosis Rates
The Global Irritable Bowel Syndrome Treatment Market is estimated to be valued at USD 3.70 Bn in 2024, exhibiting a CAGR of 8.9% over the forecast period (2024-2031). Furthermore, the rising prevalence of irritable bowel syndrome (IBS) across the globe and improved diagnosis rates are expected to augment market growth.
Market Dynamics:
The growth of the global irritable bowel syndrome treatment market is driven by rising global prevalence of IBS and increasing diagnosis rates. The prevalence of IBS has been steadily increasing worldwide due to changing lifestyles, dietary habits, and high stress levels. Additionally, greater awareness about the disease and its symptoms along with easier access to healthcare services have led to higher diagnosis rates over the years. This has significantly boosted the demand for effective IBS treatment options such as probiotics, antispasmodic, antidiarrheal, and low-fermentation fiber supplements. However, the lack of approved drug therapies for IBS and high reliance on symptom-based treatments continue to limit the market's growth prospects to some extent.
Emerging Novel Drugs and Novel Drug Delivery Systems are Driving the Market Growth
The irritable bowel syndrome treatment market is witnessing significant growth due to the emergence of novel drugs and novel drug delivery systems for irritable bowel syndrome. Several pharmaceutical companies are investing heavily in research and development activities to develop more effective and innovative treatment options for irritable bowel syndrome. For example, companies are developing drugs that target specific mechanisms like 5-HT4 receptors, 5-HT3 receptors, guanylate cyclase-C agonists, bile acid sequestrants, etc.
Novel drug delivery systems like colon-targeted drug delivery and site-specific drug release are also fueling market growth. These advanced drug delivery technologies help ensure drugs are delivered directly to the colon for maximum absorption and effectiveness in treating IBS symptoms. Sustained and controlled drug release also helps improve patient compliance and treatment outcomes. The introduction of novel treatment options is enhancing disease management and providing relief from chronic abdominal pain and discomfort experienced by IBS patients.
High Research and Development Cost and Long Development Timelines Pose Significant Challenges
Developing new drugs and therapies for irritable bowel syndrome treatment is an expensive and time-consuming process which acts as a major market restraint. IBS being a complex functional gastrointestinal disorder, it is difficult to identify specific pathways and develop targeted drugs. Extensive clinical research and testing are required to establish drug safety and efficacy for regulatory approval. Failures and setbacks during the drug development process increases the costs substantially.
The average out-of-pocket cost to develop a new prescription drug is estimated to be over US$ 2.6 billion. Moreover, it takes 10-15 years for a new potential medicine to move from the research lab to patients’ medicine cabinets. The stringent rules and regulations by health authorities also prolong the approval timelines. The high costs and risks involved in IBS drug R&D discourage small pharmaceutical companies and act as a barrier to the market.
Growing Awareness and Diagnosis Rates Present Significant Market Opportunities
Increased awareness about irritable bowel syndrome as a debilitating chronic condition is recognized as a major market opportunity. Rising knowledge among patients and physicians has improved diagnosis rates globally in recent years. According to American College of Gastroenterology estimates, in January 2021, only 30–50% of IBS patients have been formally diagnosed. As more people are diagnosed, the potential patient pool for existing and emerging IBS treatment therapies will expand significantly.
Public and private initiatives to educate people through social media campaigns, awareness programs, etc. are positively influencing the market potential. Government support in terms of research funding and reimbursement policies is also encouraging the development of new treatment innovations. This, along with a growing geriatric population suffering from IBS, signifies immense growth opportunities over the forecast period.
Growing Use of Complementary and Alternative Medicine Treatments Could Impact Market Share
The use of complementary and alternative medicine (CAM) therapies like probiotics, herbal medicines, acupuncture, yoga, etc. for managing IBS symptoms is increasing globally. Many patients resort to CAM due to perceived benefits of natural remedies and dissatisfaction with existing pharmacological treatments. Several clinical trials have demonstrated the efficacy of CAM in reducing abdominal pain, improving stool consistency and quality of life in mild-moderate IBS cases.
The market could witness some fluctuations as more patients opt for OTC complementary treatments rather than prescription drugs. Pharmaceutical manufacturers may have to substantiate their products' superior efficacy through robust clinical data and differentiate their offerings to maintain patient loyalty. However, the integration of CAM into mainstream IBS management will present hybrid treatment options and fuel overall market growth in the long run.
Link: https://www.coherentmarketinsights.com/market-insight/irritable-bowel-syndrome-treatment-market-506
Key Developments:
- In June 2023, Ironwood Pharmaceuticals announced USFDA approval for LINZESS (linaclotide) to treat functional constipation in children aged 6-17, expanding its use beyond IBS-C treatment in adults. This approval, based on successful clinical trials, provides a crucial new option for pediatric care.
- In October 2023, Sanofi and Teva Pharmaceuticals entered a partnership to develop TEV’574, an anti-TL1A therapy aimed at treating inflammatory bowel diseases such as ulcerative colitis and Crohn’s disease. This collaboration highlights their commitment to addressing unmet needs in the treatment of IBS and related inflammatory conditions.
- In April 2022, Ardelyx, Inc., a biopharmaceutical company, launched IBSRELA, the first USFDA-approved NHE3 inhibitor for treating irritable bowel syndrome with constipation (IBS-C) in adults. This marks Ardelyx's debut commercial product and introduces a breakthrough therapy for IBS-C after more than a decade, effectively targeting symptoms like abdominal pain, bloating, and constipation.
Key Players:
Ironwood Pharmaceuticals, Inc., AbbVie Inc., Astellas Pharma, Inc., Takeda Pharmaceutical Company Limited, AstraZeneca Plc., Sebela Pharmaceuticals, Inc., Bausch Health Companies Inc., Theriva Biologics, Inc., Ardelyx, Inc., Salix Pharmaceuticals, Inc., Mallinckrodt Pharmaceuticals, Abbott Laboratories, Lexicon Pharmaceuticals, Inc., GSK plc, and Johnson & Johnson Services, Inc.
