Crohn's Disease Drug Market Research Report on Industry Dynamics With Growth Forecast To 2027
The global Crohn's disease drug market is forecast to reach USD 13.72 Billion by 2027, according to a new report by Reports and Data. Crohn's disease is a chronic condition, which can be defined as an inflammatory bowel disease (IBD). It is also known as regional enteritis or ileitis. The condition results in bowel, intestine, or other areas of the digestive tract to become ulcerated and inflamed. It usually affects the ileum and the beginning of the colon. There is no one specific test for diagnosing the disease. Doctors often combine various tests to confirm the diagnosis of the condition like tests for infection or anemia and fecal occult blood test. There is no cure for the Chrohn's disease at present, and no one standardized treatment works for all the care users.
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The goal of the prescribed medications for the condition is minimizing inflammation that triggers the symptoms and signs of the disease. The medicines are also prescribed, aiming at reducing symptoms of diarrhea, pain, bleeding, and eliminate nutritional deficiencies. Treatment of the illness may also involve nutritional supplements, surgery, drugs, or a combination of these therapies. There are various types of medications prescribed for treating the condition. A large number of care users are usually treated with sulfasalazine (Azulfidine). Another frequently prescribed medication is 5-aminosalicylic acid or 5-ASA medication. These medications are effective in reducing inflammation.
Further key findings from the report suggest
- The Crohn's Disease Drug market held a market share of USD 9.96 Billion in the year 2018 that is forecasted to grow at a rate of 3.6% during the forecast period.
- In context to Drug Type, the Anti-Interleukin Biologics segment is projected to witness the fastest growth rate of 25.0% during the forecast period, which is expected to occupy 8.0% of the market by 2027. Advancements in this type of drug, associated with new launches and its effectiveness in reducing inflammation associated with the condition is resulting in its growing demand, also contributes to the growth rate of this segment.
- In context to Route of Administration, the Oral segment is projected to witness a faster growth rate of 4.3% during the forecast period, which is expected to occupy 45.0% of the market by 2027. The growth rate witnessed by the segment is attributed to the presence of strong pipeline products and continuous development in various drugs like JAK inhibitors. The ease of its consumption over injectable has a positive impact on the growth rate of this segment.
- In context to Distribution Channel, the Hospitals Pharmacy segment held the largest market share of 40.0% in 2018, with a CAGR of 3.4% during the forecast period. The market share occupied by the Hospitals Pharmacy segment is resultant of rising incidence rate of the condition, increase in the number of in-patient and out-patients, elevation in the number of hospitalization associated with the disease, which results in high demand for medications of the disease from this distribution channel.
- In regards to the region, Asia Pacific is projected to witness the fastest growth rate of 4.1% during the forecast, which is expected to hold 0% of the market by 2027. The growth rate witnessed by the region is resultant of changing lifestyle that triggers the number of patients affected by this condition along with expansion of the health care sector, which is supporting the market growth in this region.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
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The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Johnson & Johnson, AbbVie Inc., Galapagos, Celgene, Gilead, Genentech, RedHill Biopharma, Mesoblast, Takeda, and Shire.
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Crohn's Disease Drug Market Segmentation:
Drug Type Outlook (Revenue, USD Billion; 2016-2027)
- Anti-TNF Biologics
- Anti-Integrin Biologics
- Anti-Interleukin Biologics
- JAK Inhibitors
- Smad7 Inhibitors
Route of Administration Outlook (Revenue, USD Billion; 2016-2027)
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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