-- Irritable Bowel Syndrome Treatment Market Overview
The irritable bowel syndrome treatment market is growing pervasively. The market growth primarily attributes to the highly prevailing irritable bowel complications that create a vast demand for drugs &therapeutics. Over recent years, many breakthrough drug discoveries and improvements in the treatment have taken place, accelerating the growth of the market. Moreover, a strong drug pipeline for IBS is expected to escalate the market growth to furthered heights.
According to Market Research Future (MRFR), the global irritable bowel syndrome treatment market is poised to create a valuation of USD 2,900 MN by 2023, growing at 7.58% CAGR during the forecast period (2018-2023). The growing awareness about IBS and increased per capita healthcare spending are the major tailwinds behind the market growth. Also, increasing numbers of clinics, research laboratories, and hospitals foster the growth of the market.
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The emergence of notable breakthrough medicine discoveries is a key driving force behind the market growth. Additionally, several risk factors leading to IBS, such as changing dietary patterns, sedentary lifestyle, and extensive use of antibiotics, foster the growth of the market. On the other hand, large unmet clinical needs and lack of awareness for IBS treatments are the factors predicted to impede market growth. Nevertheless, rising uptake of novel therapeutics would support market growth throughout the review period.
Irritable Bowel Syndrome Treatment Market – Segments
The analysis is segmented into four dynamics;
By Type: IBS-D, IBS-C, IBS-M, and other treatments.
By Drug Type: Lubiprostone, Linaclotide, Rifaximin, Eluxadoline, Alosetron, and other medicines.
By End-User: Hospitals, Clinics, Research Laboratories, and others.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Irritable Bowel Syndrome Treatment Market – Regional Analysis
North America dominates the global irritable bowel syndrome treatment market. In 2017, North America accounted for more than 45% of the overall market share. This huge market growth attributes to the presence of a well-established healthcare sector and the growing prevalence of IBS & diseases related to IBS. Besides, factors such as the rising uptake of IBS diagnostics and well-spread awareness among demographics about IBS treatments drive the regional market growth.
Moreover, the presence of major market players and favorable healthcare reimbursement policies foster the growth of the regional market. The US is expected to continue to be a key market for IBS treatments during the forecast. Furthermore, the presence of a vast patient pool and key pharma companies in the region support the growth of the market. The North American irritable bowel syndrome treatment market is estimated to retain its leading position over the next several years.
Europe stands second in the global irritable bowel syndrome treatment market. Factors such as the increasing per capita healthcare expenses and penetration of healthcare sectors in the region boost the market growth. Moreover, the availability of effective medications, proliferating care providers, and R&D funding support from public & private sectors drive regional market growth. Also, Increasing discoveries of novel drugs and a vast patient pool suffering from IBS related issues foster market growth.
Indeed, the resurging economy in the region plays a causal role in the development of the market, allowing access to quality medication and hence, great care. Countries like the UK, Germany, and France, with the breakthrough drug discovery & burgeoning pharmaceutical industry, contribute significantly to the growth of the regional market. The European irritable bowel syndrome treatment market is projected to create a larger revenue pocket over the assessment period.
Irritable bowel syndrome (IBS) treatment market in the Asia Pacific region is growing rapidly. Factors such as the burgeoning pharma sector, increasing healthcare expenditures, and favorable government policies in the region boost market growth.
Rapidly developing countries like India and China contribute to the regional market growth majorly. Furthermore, the unmet clinical needs and raw material advantage required for the manufacturing of medicines foster the market growth in the region. The APAC irritable bowel syndrome treatment market is expected to witness a spurting growth over the projected period.
Global IBS Treatment Market – Competitive Analysis
The well-established IBS treatment market appears to be highly competitive with the presence of several notable players. To gain a larger competitive advantage, market players incorporate strategic initiatives such as mergers & acquisitions, expansions, and product/technology launch. Also, they make substantial investments to drive R&D to develop their capabilities and to expand their global footprints.
Irritable Bowel Syndrome Treatment Market Major Players:
Players leading the global IBS Treatment Market include Allergan Inc., Abbott, Valeant Pharmaceuticals International, Inc., Astellas Pharma, Inc., Nestle Health Science, Lexicon Pharmaceuticals, Inc., Synergy Pharmaceuticals Inc., Ardelyx, Inc., Ironwood Pharmaceuticals, and Mallinckrodt, among others.
IBS Treatment Industry/ Innovation/ Related News:
May 14, 2020 --- SciMount Pharmatech, Co. Ltd., a wholly-owned subsidiary of Xiling Lab (China), announced the US FDA approval for new Investigational New Drug (IND) application for its SMP-100 in Irritable Bowel Syndrome with diarrhea (IBS-D) treatments. SciMount is a clinical-stage drug development company focusing on the discovery of innovative medicines to treat GI diseases and cancer. Moreover, The Company’s pipeline includes SMP-100 and another innovative discovery stage.
This trial would be the first randomized, double-blinded, placebo-controlled Phase I clinical trial investigating the safety and pharmacokinetics. The IND approval is an important step for SciMount in the journey to become a global leader in innovative therapeutics for GI disease treatments.
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