The UK 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 4.7% during the forecast period.
IBD is one of the key chronic inflammatory digestive disease prevalent in the country. The disease is caused by several factors including the changing lifestyle of the population, prevalence of Crohn’s disease in the country are few of the key reasons which are expected to promote the demand of treatment and diagnostic services for IBD. The research on autoimmune diseases has gained momentum in the UK. Although the inflammatory and immune diseases register only a small portion in the research funding by the public, it is expected to increase in the coming years. For instance, the department of health’ National Institute of health research allocated a budget of $52.6 million in 2014-2015 for research on inflammatory and immune diseases. This budget also included research on inflammatory diseases in the country. On the similar lines, the medical research council also contributed $44.4 million for research on immunology. As these research funding increase in the coming years to decrease the mortality rate due to these chronic diseases, it is expected to further increase the opportunities for the market in the near future.
Market Growth Drivers
The market for inflammatory bowel disease treatment is growing in UK 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.