Inflammatory Bowel Disease Drugs Market Expected to Reach $34.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Inflammatory Bowel Disease Drugs Market," The inflammatory bowel disease drugs market size was valued at $21 billion in 2021, and is estimated to reach $34.5 billion by 2031, growing at a CAGR of 5.1% from 2022 to 2031.

Inflammatory bowel disease is an idiopathic disease which is caused by dysregulated immune response of gastrointestinal tract. Ulcerative colitis is an inflammatory bowel disease that affects the colon and rectum of the human body. The disease affects people of any age and most commonly it begins during adolescence and early adulthood, but it may also occur later in life. Ulcerative colitis is highly prevalent in the U.S., England, and northern Europe. The most commonly preferred treatment options for ulcerative colitis are traditional medications made of biologics and small molecules. The Crohn’s disease is also the disorder which is related to gastrointestinal tract and these both ulcerative colitis and Crohn’s disease is collectively known as inflammatory bowel disease.

Factor that drives the growth of the global inflammatory bowel disease drugs market size include increase in number of patients with inflammatory bowel disease. In addition, rise in number of ulcerative colitis incidences propels the growth of the market. Furthermore, the Food and Drug Administration (FDA) aims to enhance availability of reliable and effective drugs to meet public health needs and increase access to treat consumers. In addition, the pharmaceutical sector has opened new approaches and collaborations in the industry to respond to the urgent needs of the pandemic. For instance, in addition, in June 2019, Abbvie completed the acquisition of Allergan to expand its product portfolio to offer extensively advanced treatments for patients. Allergan launched a monoclonal antibody called brazikumab, which is used in the treatment of ulcerative colitis. Thus, increase in development of new drugs drives the substantial growth of the market during forecast period. Thus, increase in number of partnerships and acquisitions among key players to expand its business in the area of treatment, is one of the prominent inflammatory bowel disease drugs market trends.

Furthermore, the presence of vast drug under pipeline for the treatment of inflammatory bowel disease is escalating the growth of the market. For instance, in October 2019, according to National Library of Medicine there were about 730 clinical trials being conducted on drug development related to inflammatory bowel disease in U.S, which is anticipated to foster the growth of the inflammatory bowel disease drugs market. In addition, according to Crohn’s and Colitis Foundation, around 25% of patients who suffer from Crohn’s disease in the U.S are prescribed with biologics. Also, there was high prevalence of Crohn’s disease in North America was about 319 per 100,000 population. These aforementioned factors increase the demand for inflammatory bowel disease drugs escalating the growth of the market.

Increase in government support for management of inflammatory bowel disease and surge in demand for effective prevention treatment are the major factors that drive the growth of the global inflammatory bowel disease drugs market. In addition, key players, such as AbbVie Inc., Takeda Pharmaceuticals, Pfizer Inc., and Bristol Myers Squibb contribute toward the market growth. However, high cost of drugs and limited reimbursement policies restricts the growth of the market. On the contrary, increase in number of drug manufacturing plants surge the demand for the treatment of inflammatory bowel disease drugs creating an opportunity for the manufacturers to tap and capitalize on the market.

The inflammatory bowel disease drugs market is studied across by type, drug class and distribution channel. On the basis of type, the market is segmented into ulcerative colitis and Crohn’s disease. By drug class, the market is fragmented into TNF inhibitors, Corticosteroids, Aminosalicylates, JAK inhibitors, Anti-integrin, IL inhibitors, and others. By distribution channel, it is categorized into hospital pharmacy, drug store & retail pharmacy and online pharmacy. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

By type, the Crohn’s disease segment dominated the global market in 2021 and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of Crohn’s disease. In addition, the ulcerative colitis segment is expected to register higher CAGR during the forecast period owing to rise in cases of ulcerative colitis.

On the basis of drug class, the TNF inhibitor segment acquired the largest share of the inflammatory bowel disease drugs industry in 2021, and is expected to remain dominant throughout the forecast period. This is attributed to the increase in number of product approval.

By distribution channel drug store and retail pharmacy acquired the largest share in 2021, and is expected to remain dominant throughout the forecast period. This is attributed to the surge in demand for the drugs for the treatment of inflammatory bowel disease. 

By region, the inflammatory bowel disease drugs industry is studied across North America, Europe, Asia-Pacific, and LAMEA. By Region, North America accounted for the largest inflammatory bowel disease drugs market share in 2021, and is expected to remain dominant throughout the forecast period. This was attributed to the presence of giant biopharmaceutical companies in the countries such as the U.S. In addition, increase in frequency of major pharmaceutical companies and their R&D activities drive the demand for therapeutic treatment in the region during the inflammatory bowel disease drugs market forecast.

KEY FINDINGS OF THE STUDY

• By type, the Crohn’s disease segment was the highest contributor according to the inflammatory bowel disease drugs market analysis in 2021.
• By drug class, the TNF inhibitor segment was the highest contributor to the market in 2021
• By distribution channel, the drug store & retail pharmacy segment dominate the growth of the market.
• North America accounted for a majority of the inflammatory bowel disease drugs market share in 2021, and is anticipated to remain dominant during the forecast period.