Crohn’s Disease Market Size, Insights and Trends Analysis By Drugs (Immune System Suppressors, Antibiotics, Anti-Diarrheal, Pain Relievers, Anti-Inflammatory Drugs), Procedures (Computerized Tomography (Ct), Colonoscopy, Flexible Sigmoidoscopy, Magnetic Resonance Imaging (MRI), Capsule Endoscopy, Double-Balloon Endoscopy, Small Bowel Imaging), Region and Key Players, Forecast To 2022
According to Market Research Future (MRFR), the Global Crohn’s Disease Market size is expected to register a CAGR of 3% during the forecast period (2016 – 2022). The availability of Crohn’s disease therapeutics, drugs and devices is a key driving force accelerating the growth of the market on a global level. The Global Crohn’s Disease Market share is growing pervasively owing to rising prevalence of Crohn’s disease, inflammatory bowel disease (IBD), and other GI tract & bladder related disorders. Over recent years, there has been a in risk factors that fosters the growth of the market. Some of the risk factors leading to the condition are genetics, overactive immune system, environmental changes, and bacteria like mycobacterium.
At the same time, there have been many novel medicines & therapies available in the market to treat the disease. For instance, diagnosis methods such as barium enema, barium, colonoscopy, and X-ray of the small bowel, etc. have been emerged recently. Moreover, various antibiotics and surgical procedures have been developed to ease the condition. For instance, topical antibiotics, 5-ASA compounds & corticosteroids, immunomodulators, and biosimilars, that are designed to suppress inflammation in the immune system.
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Crohn’s disease market is projected to grow rapidly owing to rising include the proliferating healthcare sector, increasing numbers of advanced care units, and growing awareness among people about the disease and the availability of treatments. Improving economic conditions worldwide are providing impetus to market growth, enabling access to quality healthcare. Besides, advancements in minimally invasive surgeries stimulate Crohn’s disease market growth.
Moreover, technological advancements transpired in medical science and substantial investments to drive R&D activities for the development of medical devices, treatments, and medicines, boost market growth.
Moreover, rise of spurious and counterfeit medicines has reduced the total market revenues, displacing standard drugs off the market. Also, rising incidences of drug resistance and complications arising during surgeries, alongside unmet clinical needs and high costs associated with the treatments, are estimated to obstruct the market growth. Nevertheless, the emergence of biosimilars would support Crohn’s disease market, availing affordable, and cost-effective medical products.
Crohn’s Disease Market Segmentations
The Crohn’s Disease market is segmented by Procedures and Drug Types
By Procedures, the Crohn’s Disease market is segmented into Flexible Sigmoidoscopy, Colonoscopy, Magnetic Resonance Imaging (MRI), Capsule Endoscopy, Computerized Tomography (CT), Small Bowel Imaging & Double-Balloon Endoscopy, and others.
By Drug Types, the Crohn’s Disease market is segmented into Anti-Diarrheal, Antibiotics, Immune System Suppressors, Anti-Inflammatory Drugs Pain Relievers, and others.
Crohn’s Disease Market Regional Analysis
North America leads the global Crohn’s disease market, receiving immense contributions from the significantly growing US market. The largest share of the market attributes to the growing prevalence of Crohn’s disease, IBD, and other GI tract & bladder related disorders. Also, factors such as the high per capita healthcare expenditures, advances in medical science, and substantial investments into R&D are substantiating the regional market growth. A well-developed healthcare framework and a large number of active players foster the growth of the Crohn’s disease market in North America.
Crohn’s disease market in the European region stands second on a global level, following the North America region. Rising incidences of Crohn’s disease are contributing to the market growth in this region, generating massive demand for the management of the condition.
Additionally, factors such as financial support from the government to drive R&D activities to discover novel therapeutics & drugs drive the market growth in the region. Besides, the increasing demand for new treatments, medicines, and devices to manage the condition is impacting the regional market growth positively.
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The Asia Pacific Crohn’s disease market size is growing rapidly, mainly due to the availability of reimbursement policies for specific treatment options and the rising prevalence of the condition. Moreover, rising healthcare expenditures and spreading awareness about the disease & its treatments foster market growth in the region.
Simultaneously, increasing governmental funding for drug discovery and the availability of low-cost yet quality disease management methods accelerate the regional market growth. Besides, rising geriatric population and high unmet needs, drive the growth of the APAC Crohn’s disease market, offering multiple growth opportunities to the market players.
Crohn’s Disease Market Competitive Analysis
Highly competitive, players in the Crohn’s disease market appear to be fragmented. In order to gain a substantially larger share in the market, players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and new therapeutics & technology launch. They invest heavily in R&D and clinical trials to develop effective drugs.
Pharmaceutical companies are collaborating with partners in academic circles and the biotech industry who can contribute specialized knowledge & cutting-edge technologies. The drug development strategy has been reformed with excellent efficiency. However, increasing drug resistance cases are prompting the need for new drug developments and, therefore, opportunities for new players.
Players leading the Crohn’s disease market include AbbVie Inc., Allergan, Inc., Takeda Pharmaceutical Company Limited, UCB SA, Bayer AG, Perrigo Company plc, Johnson & Johnson Services, Inc., Pfizer Inc., and Ferring BV, among others.
Innovations/ Industry News:
Takeda Pharmaceutical Company Ltd. (Japan), one of the largest pharmaceutical companies in Asia, announced its collaboration with Prometheus Biosciences (the US), a biopharmaceutical company to drive the discovery and development of novel inflammatory bowel disease (IBD) targets.
The collaboration aligns with Takeda’s IBD strategy. The company has won FDA approval for its integrin therapy – Entyvio for ulcerative colitis and Crohn’s disease. Takeda is co-developing the Enterome drug, which is for Crohn’s disease and is in its early-phase development.
According to the IBD R&D pact, Prometheus would identify and validate three IBD drug targets in return for up to USD 420 MN in milestones. Takeda will handle all drug development and commercialization from discovery onward, resulting in an arrangement designed to tap into the partner company’s respective strengths.
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