The global inflammatory bowel disease treatment market size was valued at USD 16.9 billion in 2019 and is expected to reach XX million by 2028, registering a CAGR of 4.4% from 2019 to 2028.
Emergence of biosimilars is also one of the major factors governing the overall market. Biosimilars are expected to be less costly than biologics, making them more accessible in developing countries. The expected patent expiration of some of the drugs is one of the factors responsible for the launch of new biosimilars.
For instance, in 2016, the U.S. FDA approved a biosimilar Inflectra, which is similar to Remicade with lower competitive pricing. Remicade, a biologic drug manufactured by Janssen Non-surgical and approved in 1998, is majorly used for the treatment of Crohn’s disease and ulcerative colitis.
The market for inflammatory bowel disease treatment is growing worldwide due to factors such as the increasing prevalence of ulcerative colitis and Crohn’s disease, advances in medical technology, government support for inflammatory bowel disease treatment research, and the ubiquity of anxiety and depression. Moreover, increasing number of drugs in clinical trial and growing popularity of prebiotic and probiotic foods is likely to spur market growth. However, high capital investments required for drug discovery, unsatisfactory effectiveness of treatment, and stringent drug regulatory policies are restraining the growth of the inflammatory bowel disease treatment market.
Type of Inflammatory Bowel Disease:
Crohn’s disease and ulcerative colitis are two major types of IBDs. Crohn’s disease was the largest segment in 2019 due to increasing prevalence of the condition. According to an article published in the Jobson Medical Information LLC, in 2019, the incidence of CD was found to be around 3.1 to 14.6 cases per 100,000 people every year and the prevalence was approximately 201 cases per 100,000 adults in U.S.
Ulcerative colitis is estimated to be the fastest growing segment over the forecast year owing to presence of strong pipeline products for its treatment. Moreover, increasing involvement of key players in product development related in the field is anticipated to drive the segment. In March 2019, Johnson & Johnson Services Inc. announced new data from its Phase III UNIFI study showing positive results of STELARA in adults suffering from moderate to severe ulcerative colitis.