Crohn’s Disease Treatment Market 2022
According to a study conducted by Persistence Market Research (PMR), the demand for anti-inflammatories and biologics for the treatment of Crohn’s disease will gain momentum in the near future. PMR forecasts the global Crohn’s Disease Market to reach USD 4,474.8 million by the end of 2024, growing at a CAGR of 3% during the assessment period.
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Next-generation wearable technologies are aware of stress, heart rate, and blood oxygen sensors, allowing medical professionals to accurately monitor vital signs, that too, in real time. The current scenario also sees an influx of virtual hospital wards, in which a centralized communication infrastructure is used to oversee the treatment of many patients, that too remotely. This is how the Crohn’s disease treatment market would behave in the near future.
The Crohn’s & Colitis Foundation of America (CCFA) said more than one million Americans have been diagnosed with Crohn’s disease and ulcerative colitis, most of them over the age of 30. The increasing occurrence of Crohn’s disease has triggered a high demand for its treatments. A survey conducted by the US Centers for Disease Control (CDC) revealed that the incidence rate of Crohn’s disease in the country is 3.1 to 14.6 new cases per 100,000 population per year. The disease is widespread in developed countries, especially among smokers. According to a study conducted by Persistence Market Research (PMR), the demand for anti-inflammatories and biologics for the treatment of Crohn’s disease will gain momentum in the near future. PMR forecasts the global Crohn’s Disease Market to reach USD 4,474.8 million by the end of 2024, growing at a CAGR of 3% during the assessment period.
Rising demand for biologics for the treatment of bowel disorders such as ulcerative snacks and Crohn’s disease is propelling the overall Crohn’s disease market growth. Moreover, drug manufacturers are actively focusing on advanced products with higher efficacy. Growing patient population is an additional factor that is expected to influence the growth of the market between 2016 and 2024. Hence, increased usage and preference for biologics and anti-inflammatory drugs coupled with rising popularity of biosimilars is expected to play a important role in shaping the market for the future.
The high cost of treatment will remain a major obstacle for the market. Furthermore, patient expiration of blockbuster drugs and lack of early diagnosis, especially in third world countries, are some of the other hurdles that are likely to inhibit the market growth over the forecast period.
A greater preference for symptomatic therapeutics and drugs over surgeries, better management of the treatment of inflammatory bowel diseases, the arrival of improved drugs on the market thanks to sounder investments in R&D programs are some of the major trends driving the market.
- Allergan, Inc.,
- UCB SA
- AbbVie Inc.
- Perrigo Company plc
- Takeda Pharmaceutical Company Limited
- Pfizer Inc.
- Johnson & Johnson Services, Inc.
- Bayer AG
- Ferring B.V.
While biologics will remain the preferred type of medicine among healthcare professionals and patients, the demand for anti-inflammatories will also witness a rampant acceleration during the forecast period. By drug type, the anti-inflammatory segment is expected to reach a market valuation of US$1,095.9 million by the end of the assessment period.
Based on distribution channel, hospital pharmacies will continue to be the major market segment during the forecast period. While the retail pharmacy segment is expected to show the highest growth, reaching a market valuation of US$1,470.2 million by 2024.
PMR’s findings based on regional assessment suggest that the North America Crohn’s disease market will continue to lead the pack during the forecast period. The region’s market is expected to grow to US$3,149.8 million in 2014. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period. The APAC market is expected to create an absolute dollar opportunity of US$13.2 million in 2017 compared to 2016.
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Answers to key questions in this report.
- What will be the growth rate of the market in the future?
- What are the key factors driving the global market?
- Who are the major manufacturers in the Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by industry regions?
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