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Global IBS Treatment Market was Valued at US$ XX Bn in 2019 and it is Expected to Reach More than US$ 4.14 Bn by 2028, Likely to Grow with the CAGR of 10.7% During the Forecast Period.
The global IBS Treatment market is at its initial stage and it is anticipated to gain momentum in the coming years. Some of the factors fuelling the growth of the global market include rising occurrences of a targeted disease, technological advancements, and product innovations.
Rising Occurrences of Target Disease and Wide Adoption from the Pharmaceutical Industry is Anticipated to Fuel the Demand for IBS Treatment Across the Globe
IBS is also referred to as irritable bowel syndrome. It is one of the most commonly intestinal syndromes, with an estimated rate of more than 15% of global population. According to a study conducted by IFFGD (International Foundation for Gastrointestinal Disorders), in 2016 more than 30 million IBS affected cases were in the United States in which almost 80% of patients were female. Most of these patients were the age below 50 years. This shows the necessity of IBS treatment at a larger extent. Moreover, the rising advertising and promotional activities are resulting in increased commercialization of these products. For instance, Linzess is significantly used in Japan, U.S., and Europe. In 2019, it got approval in China also which is further expected to fuel the growth of the global market.
The IBS-C Segment Held prominent Share in Global IBS Treatment Market in 2019
Based on product type, IBS-C (Constipation-predominant) is the largest shareholder in global IBS treatment market. This is mainly due to the rising adoption of drugs like Amitiza, Constella, and Linzess. The segment is expected to witness impressive growth in the coming years. The growth of the segment is propelled by the consistent product launches such as Tenapanor and SYN-010. These drugs are currently under clinical trial and it is expected to be launched commercially very soon. Some of the major companies offering these products include AstraZeneca, Allergan, Astellas, and Ironwood.
Furthermore, in the IBS-C segment, the Linzess segment is expected to hold maximum share throughout the forecast period. This is due to rising adoption from several continents including Japan, U.S., Italy, U.K., Spain, and Germany. The segment is expected to show tremendous growth in the coming years.
Europe IBS treatment Market is Projected to Witness Rapid Growth During the Forecast Period
By geography, North America is estimated to hold maximum share throughout the forecast period. The region is anticipated to dominate the global IBS treatment market during the research timespan. Some of the factors fuelling the growth of the region include significant availability of novel products, the strong presence of market players, rising awareness regarding the necessity of IBS treatment among patients, and well-developed healthcare infrastructure.
On the other hand, Europe is projected to witness rapid growth during the forecast period of 2019-2027. The growth of the region is fuelled by the rising commercialization of IBS treatment products and a large consumer base due to the rising occurrences of target diseases. Moreover, the significant initiatives taken by private and public figures to increase awareness regarding IBS syndrome and its treatment are expected to propel the growth of the IBS treatment market in Europe.
The global IBS syndrome market is consolidated with few players. The companies are focused on expanding their product portfolio by launching new products and conducting successful clinical trials to gain a competitive edge. Moreover, the companies are expanding their presence globally aimed at expanding their customer base across the globe.
Some of the major players operating in the global market include Ardelyx, Ironwood Pharmaceuticals, Inc., Synthetic Biologics, Inc., Allergan, Synergy Pharmaceuticals In. Bausch Health, Astellas Pharma, Inc., Sebela Pharmaceuticals Inc. AstraZeneca, and Takeda Pharmaceutical Company Limited.
Global IBS Treatment Market by Product Type
Global IBS Treatment Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America