The latest market report published by Credence Research, Inc. “Global Irritable Bowel Syndrome with Diarrhea (IBS-D) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016-2022,” the irritable bowel syndrome with diarrhea (IBS-D) drugs market was valued at USD 289.3 Mn in 2015, and is expected to reach USD 1,115.06 Mn by 2022, expanding at a CAGR of 13.89% from 2016 to 2022.
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Recent approvals for two new prescription drugs to treat irritable bowel syndrome with diarrhea (IBS-D) have become the biggest phenomenon in the IBS-D drugs market. These approvals are viewed as breakthrough step in the long struggle to discover effective treatment for IBS-D.
Viberzi (eluxadoline) assists in controlling bowel contractions thus containing diarrhea, whereas Xifaxan (rifaximin) is an antibiotic that treats diarrhea by altering the gut flora. Xifaxan had been used off label for treating IBS-D, thus direct approval for treating IBS-D will lead to growth in demand for Xifaxan during the forecast period. Drugs such as loperamide will experience a slack in demand due to the introduction of the said novel drugs.
Geographically, North America is the largest market for IBS-D drugs. Higher awareness about the disease, expected prompt availability of the newly approved drugs, better reimbursement system and higher IBS prevalence are the prime factors that drive the IBS-D drugs market in North America. On the other hand, Asia Pacific is expected to be the fastest growing regional market for IBS-D drugs. It is estimated that Asia Pacific market will progress at a CAGR of approximately 17% during the forecast period 2016-2022. Japan with its largest pool of geriatric population and with the anticipated approval for Xifaxan in 2018 makes the country the largest national market in Asia Pacific region. In addition, it is also estimated that due to factors such as moderate purchasing power in the patient population, lower diagnosis rates and poor disease awareness will contribute to sustained demand for OTC IBS-D drugs in the region. Regions such as Latin America and MENA are believed to follow the trends in Europe and North America market.
Commenting on the competitive scenario, the IBS-D drugs market is fragmented with no clear leader in terms of market revenue share. However, it is expected that with gradual approvals in the international markets, Valeant (Salix Pharmaceuticals) will emerge the market leader in the overall IBS drugs market with products for both IBS-D and IBS-C treatment.
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