The Americas IBS treatment market is expected to grow at a CAGR of 9.3% during the forecast period 2017-2023.
There are wide market for irritable bowel syndrome treatment in the Americas owing to increasing prevalence of patients suffering with anxiety, people feel the effects of stress in many way and one of the common symptom is irritable bowel syndrome . Anxiety can worsen symptoms of abdominal cramps and pain and make one feel sick in the stomach. Rising prevalence of population suffering with anxiety are the leading causes for the growth of Americas IBS market. According to updated report by Anxiety and Depression Association of America, in 2017, approximately 30 % of the adult population in North America has anxiety disorder issues. Presence of huge patient population with anxiety, have increased the chance of occurrence IBS in this region. Thus, big players are focusing on better treatment option in order to serve the patient suffering from irritable bowel syndrome .
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Major Players in the IBS treatment Market
Some of the key players in this market are Allergan Plc (Ireland), Sucampo Pharmaceuticals (U.S.), Ironwood Pharmaceuticals, Inc. (U.S.), Astellas Pharma Inc. (Japan), Valeant Pharmaceuticals (Canada), Abbott Laboratories (U.S.), Synergy Pharmaceuticals, Inc. (U.S.), Ardelyx, Inc. (U.S.), Nestle (Switzerland), Sebela Pharmaceuticals (Ireland), Probi (Sweden), Alfasigma USA, Inc. (Italy), RedHill Biopharma Ltd. (Israel), AstraZeneca (U.K), Ipsen (France), Novartis AG (Switzerland), Takeda Pharmaceutical Company Ltd (Japan), Synthetic Biologics, Inc. (U.S.), Protagonist Therapeutics Inc. (U.S.), Pfizer Inc (U.S.), Lexicon Pharmaceuticals, Inc. (U.S.), Innovate Biopharmaceuticals (U.S.), 4D pharma plc (U.K).
Considering the Americas irritable bowel syndrome treatment market, there are two main regions: North America, and South America. North America consists of United States and Canada. United States holds largest market share due to the increasing burden of diseases, the share for functional gastrointestinal disorder is also increasing. According to a report published by the International Foundation for Functional Gastrointestinal Disorders, in 2016, functional gastrointestinal (GI) and motility disorders are the most common GI disorders which accounted for 1 in 4 people or more in the United States.
Canada is the second-largest market for irritable bowel syndrome owing to presence of patient population. Moreover, Increasing investment by organizations in the field of irritable bowel syndrome serves as a significant driver for the Canada, the market of IBS is expected to grow at a CAGR of 6.1%.
North America holds the major share of the market whereas, South America shows the fastest growth across the Americas region owing to the presence of an opportunity for the development of the market.
The Americas IBS treatment market is segmented on the basis of types, drugs type, and end user. On the basis the types, it is segmented into IBS-D, IBS-C, IBS-M. On the basis of the drug type, it is segmented into lubiprostone, linaclotide, eluxadoline, rifaximin, alosetron, and others. On the basis of the end users, it is segmented into hospitals, clinics, and research laboratories.
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Hence, most of the companies are more into mergers, acquisition, and collaboration activity in order to provide better treatment procedure. In this regards, Allergan Plc. in January 2017, entered into a licensing agreement with Assembly Biosciences, Inc. for worldwide rights to Assembly’s micro biome GI development programs. Also, in October 2016, Allergan Plc. announced the formation of the IBS CounSEL, group of experts dedicated to improve diagnosis and management of irritable bowel syndrome (IBS) by providing support. These merger and acquisition help the companies to introduce quality treatment and expand the product line within the region. Companies are also focusing on research and development activities to get better approach to treat IBS. In this regards, in September 2017, Sucampo Pharmaceuticals announced that the U.S. Food and Drug Administration (FDA) have accepted the application of supplemental new drug application (sNDA) for lubiprostone (AMITIZA) in children.
Furthermore, increasing consumer awareness about the irritable bowel syndrome increase the footfall of patient in clinics and hospitals. Furthermore, increasing spending in the healthcare domain fuelling the growth of the IBS treatment market. According to the Centers for Medicare & Medicaid Services, in 2015, the U.S. healthcare spending increased by 5.8% reaching USD 3.2 trillion. In 2016, the healthcare spending in North America had increased to some extent.
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