IBD Treatment Market Size Projections: Promising Growth and Development Forecast (2023-2035)

New York, United States, Fri, 28 Jul 2023 05:58:57 / Comserve Inc. / -- IBD (Ulcerative Colitis and Crohn's Disease) Treatment Market Size by Research Nester Reveals the Market to Grow with a CAGR of ~8% During 2023-2035 and Attain ~USD 36 Billion by 2035

Research Nester assesses the growth and market size of the global IBD (ulcerative colitis and Crohn's disease) treatment market which is anticipated to be on account of the increasing investments in research and development and favorable government initiatives worldwide.

New York – May 10, 2023 - Research Nester’s recent market research analysis on “IBD (Ulcerative Colitis and Crohn's Disease) Treatment Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global IBD (ulcerative colitis and Crohn's disease) treatment market in terms of market segmentation by drug class, distribution channel, disease indication, and by region.

Increasing Prevalence of IBD to Promote Global Market Share of IBD (Ulcerative Colitis and Crohn's Disease) Treatment

The rising prevalence of IBD worldwide is a significant driver of growth in the IBD treatment market. According to the Crohn's and Colitis Foundation, as many as 3 million adults in the United States alone have been diagnosed with IBD. There is an increasing awareness about IBD, leading to early diagnosis and treatment, which is driving the growth of the IBD treatment market.

The development of novel therapies, such as biologics and biosimilars, has also contributed to the growth of the IBD treatment market. Favorable government initiatives, such as the Affordable Care Act in the United States, have also contributed to the growth of the IBD treatment market. This act has provided access to affordable healthcare to millions of Americans, including those with IBD. The increasing investments in research and the development of new therapies for IBD are other drivers of growth in the IBD treatment market.

Some of the major growth factors and challenges that are associated with the growth of the global IBD (ulcerative colitis and Crohn's disease) treatment market are:

Growth Drivers:

•        Growing Prevalence of Crohn’s Disease

•        Growing Spending on Rare Diseases

Challenges:

IBD (ulcerative colitis and Crohn's disease) treatment becomes expensive since ulcerative colitis and Crohn's disease are chronic diseases that require treatment for a prolonged time. The treatment includes surgery, medicines, bowel rest, and others since no single treatment can cure patients with these diseases. The average cost of Crohn’s disease treatment in the first year of its diagnosis is projected to be around 25,000 U.S. dollars. Lack of awareness among people regarding inflammatory bowel disease (IBD) is some of the major factors anticipated to hamper the global market size of IBD (ulcerative colitis and Crohn's disease) treatment.

By disease indication, the global IBD (ulcerative colitis and Crohn's disease) treatment market is segmented into ulcerative colitis and Crohn’s disease. The Crohn’s disease segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The growth of the segment is driven by the increase in cases of Crohn's disease compared to ulcerative colitis worldwide, supported by the launch of various healthcare programs aimed at early detection and treatment of the disease. For instance, it has been found that nearly 10 in every 100,000 people worldwide are diagnosed with Crohn's disease each year, adding to approximately 30,000 new cases of the disease each year.

By region, the North America IBD (ulcerative colitis and Crohn's disease) treatment market is to generate the highest revenue by the end of 2035. The growth of the market is mainly attributed to the high prevalence and increasing incidence of ulcerative colitis and Crohn's disease in the United States and Canada, along with their developed healthcare systems and high-risk lifestyle-related variables. During the research, it was found that IBD, which includes Crohn's disease and ulcerative colitis, has been diagnosed in approximately 3.1 million people (1%) in the United States, of which approximately 1 million were men and the remainder were reported. The prevalence of IBD can vary based on several factors, including age, race, sociodemographics, education, and economic conditions.

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This report also provides the existing competitive scenario of some of the key players of the global IBD (ulcerative colitis and Crohn's disease) treatment market which includes company profiling of Bausch Health Companies Inc., AbbVie Inc., Novartis AG, UCB Biopharma SRL, Biogen Inc., Pfizer, Inc., Janssen Pharmaceuticals, Inc., Takeda Pharmaceutical Company Limited, and others.     

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