Indian Inflammatory Bowel Disease drugs market size stood at USD xx billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 6.2% during the forecast period.
India has among the highest reported prevalence and incidence rates of IBD across the globe. The Indian pharmaceutical industry has been consistently growing with the public and private investments, making India as a potential market for the treatment of prevailing diseases such as IBD. Additionally, healthcare expenditure is playing a critical role in fueling the IBD therapeutics market in India. Various aspects in which the Indian healthcare sector is improving upon includes a number of healthcare services, advanced diagnostic centers, induction of advanced treatment process, international collaborations, and developing infrastructure for healthcare services that further provide a significant opportunity to the market growth.
Market Growth Drivers
The major growth drivers of inflammatory bowel disease is irregular food habits and unhealthy lifestyle of people, and the increased level of pollution. The increase in alcohol consumption and cigarette smoking are also important driving factors for the IBD market. Additionally, healthcare expenditure is also playing an important role in fueling the IBD market in India. As the substantial healthcare expenditure and various insurance schemes likewise, PMJAY and Ayushman Bharat-National Health Protection Mission, the healthcare sector is improving on various fronts in India. Above this, increasing involvement of key players in the development of product in the field is anticipated to drive the segment.