Dublin, May 31, 2024 (GLOBE NEWSWIRE) -- The "Inflammatory Bowel Diseases (IBD) Drugs Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for the Inflammatory Bowel Diseases Drugs Market is forecast to surpass US$29.09 billion in 2024, with strong revenue growth through to 2034.
Rise in IBD Incidence to Boost the Demand of IBD Drugs Market
The global incidence and prevalence of Inflammatory Bowel Disease (IBD) are increasing, with marked variations between developed and developing nations. Crohn's disease and ulcerative colitis are more common in developed countries, potentially due to Western diets and lifestyle factors. Rapid urbanization has also contributed to the rise in autoimmune diseases, including IBD. While the incidence appears stable in the West, it is increasing in the developing countries, possibly due to Westernization and improved disease awareness.
Recent studies show rising incidence rates, especially in regions with previously low rates. Europe has the highest incidence rates, followed by North America and Asia/Middle East. According to EFCCA (European Federation of Crohns and Ulcerative Colitis Associations) in 2022 there were 10 million people living with IBD worldwide. While according to CCFA (Crohn's & Colitis Foundation of America), as many as 70,000 new cases of IBD are diagnosed in the United States each year and estimated that approximately 80,000 children in the U.S. are affected with IBD. The IBD has reported to affect almost 1.6 million Americans, most of whom are diagnosed before the age of 35.
Genetic factors play a role, but changing incidence rates emphasize the significance of environmental factors. Socioeconomic shifts and the spread of Western lifestyle contribute to this rise. Extra intestinal manifestations and complications like colon cancer pose significant risks to patients, with long-term implications of treatment are still being understood. Gastroenterology clinics will face challenges managing both younger IBD patients and an aging population with comorbidities, necessitating careful management strategies.
Significant success in IBD Drug Development to Drive the Market Demand
Previously, the diagnosis rate of Inflammatory Bowel Disease (IBD) was low particularly impacting developing countries. Even in developed nations, diagnosing IBD was challenging, leading to prolonged misdiagnoses for many sufferers. However, recent improvements in diagnostics have expanded the patient pool, consequently driving demand for treatments and boosting market revenue.
There has been a rapid surge in randomized clinical trials for Crohn's disease (CD) and ulcerative colitis (UC) treatments, accompanied by detailed epidemiological studies. Despite initial debates, it's now evident that IBD predominantly affects individuals in industrialized nations, with its incidence on the rise. With the advent of newer technologies, there has been a paradigm shift reported in treatment of IBD. Some of the major recent developments include launch and approval of new drugs for instance:
In February 2024, Pfizer Inc. disclosed that the European Commission (EC) has approved marketing authorization for VELSIPITY (etrasimod) within the European Union for the management of moderately to severely active ulcerative colitis (UC) in patients aged 16 and above. This approval extends to individuals who have shown insufficient response, loss of response, or intolerance to conventional therapy or a biological agent.
In March 2024, Celltrion USA has introduced ZYMFENTRA (infliximab-dyyb), a subcutaneous (SC) version of infliximab, marking a significant advancement in treatment options. ZYMFENTRA stands as the sole subcutaneous infliximab approved by the U.S. Food and Drug Administration (FDA) in 2023.
In July 2023, the launch of Yuflyma (adalimumab-aaty) has been announced by Celltrion USA, presenting patients with a high-concentration (100mg/mL) and citrate-free formulation as an alternative option. Yuflyma is approved for the treatment of eight conditions, which encompass rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn's disease, ulcerative colitis, plaque psoriasis, and hidradenitis suppurativa.
Additionally, Fiberoptic colonoscopy with biopsies and ileocolonoscopy have transformed the diagnosis of both UC and CD globally, particularly in defining disease extent and severity, consequently helping the patients to manage and control IBD.
Key Market Dynamics
Market Driving Factors
- Rise in IBD Incidence to Boost the Demand of IBD Drugs Market
- Significant success in IBD Drug Development to Drive the Market Demand
- Advancements in Oral Drug Delivery for Inflammatory Bowel Disease
Market Restraining Factors
- Lack of Understanding of Disease Aetiology
- Compliance - Frequent Dosing is Inconvenient
- Limitations of IBD Drugs - Side Effect Profiles
Market Opportunities
- Advancements in Biological Drugs to Drive the Market Significantly
- Rising Opportunities for IBD Drugs in Asian Markets
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising Inflammatory Bowel Diseases Drugs prices and recent developments.
Segments Covered in the Report
Indication Outlook
- Crohn's Disease
- Ulcerative Colitis
Route of Administration Outlook
- Oral
- Parenteral
- Rectal
Distribution Channel Outlook
- Hospital Pharmacy
- Retail Pharmacy
- E-commerce Pharmacy
- Others
Drug Class Outlook
- TNF-alpha Blockers
- Integrin Blockers
- Interleukin Inhibitors
- JAK Inhibitors
- S1Ps Modulators and Others
Drugs Outlook
- Cimzia
- Entyvio
- Humira
- Rinvoq
- Skyrizi
- Remicade
- Simponi
- Stelara
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 21 leading national markets.
The report also includes profiles and for some of the leading companies in the Inflammatory Bowel Diseases Drugs Market, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- AbbVie
- Biogen
- Celltrion Healthcare
- F. Hoffmann-La Roche
- Ferring
- Johnsons & Johnsons
- Novartis
- Pfizer
- Takeda Pharmaceutical
- UCB
For more information about this report visit https://www.researchandmarkets.com/r/kk5frt
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