Short Bowel Syndrome Market: Glucagon-like Peptide-2 (GLP-2) to Dominate Global Market
Short Bowel Syndrome Market: Introduction
According to the report, the global short bowel syndrome market was valued at US$ 728.3 Mn in 2020 and is projected to expand at a CAGR of 15.9% from 2021 to 2031. Incentives and R&D grants for manufacturers of orphan drugs, rise in prevalence of SBS, and favorable reimbursement scenario are anticipated to propel the global short bowel syndrome market. Japan is likely to be a highly lucrative market for short bowel syndrome drugs from 2021 to 2031. The market in the country is projected to expand at a high CAGR during the forecast period.
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Increase in Demand for SBS Drugs Due to High Cost of Parenteral Nutrition to Drive Market
Most of the short bowel syndrome patients are on parenteral nutrition initially until the patients’ intestine has adopted and hemostasis is being maintained. The cost of parenteral nutrition varies from patient to patient, and ranges between US$ 150,000 and US$ 586,000 per year. The high cost of parenteral nutrition increases demand for short bowel syndrome drugs, which have shown the ability to reduce patient’s dependence on parenteral nutrition during the clinical trials. For instance, apraglutide has the potential to enable patients to minimize the burden from parenteral support by increasing intestinal absorption of fluids, calories, and nutrients. Apraglutide has completed phase 2 studies and is currently being evaluated in a pivotal phase 3 clinical trial. Based on preclinical and clinical data to date, apraglutide has the potential to facilitate the treatment of SBS-IF by establishing less frequent dosing and improving outcomes in a clinically meaningful fashion to address the needs of patients across the anatomical spectrum that characterizes the disease.
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Glucagon-like Peptide-2 (GLP-2) to Dominate Global Market
In terms of product, the global short bowel syndrome market has been classified into glucagon-like peptide-2 (GLP-2), growth hormone, glutamine, and others. The glucagon-like peptide-2 segment dominated the global short bowel syndrome market in 2020, and the trend is projected to continue during the forecast period. The segment’s dominance can be attributed to increase in sales of Gattex/Revestive in the U.S. and Europe. Additionally, it is the only approved drug for the treatment of SBS across the globe.
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Retail Pharmacies to be Highly Lucrative Distribution Channel
Based on distribution channel, the global short bowel syndrome market has been divided into hospital pharmacies, retail pharmacies, and online sales. The retail pharmacies segment dominated the global short bowel syndrome market, and the trend is anticipated to continue during the forecast period. The segment is expected to dominate the global short bowel syndrome market due to higher sales of drugs through retail pharmacies in developed countries including the U.S., Europe, and Canada.
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Key players in the global short bowel syndrome market include Takeda Pharmaceutical Company Limited, Merck KGaA, Zealand Pharma A/S, OxThera, VectivBio AG, 9 Meters Biopharma, Inc., Nutrinia Ltd., Hanmi Pharm.Co., Ltd., and Pharmascience, Inc.
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