Inflammatory Bowel Disease Treatment Market Will Have Positive Impact Due To Growing Geriatric Popul

The global inflammatory bowel disease treatment market size is expected to reach USD 22.4 billion by 2026, according to a new report by Grand View Research, Inc., registering a 4.4% CAGR during the forecast period. Increasing prevalence and incidence of Crohn's disease and ulcerative colitis is one of the major factors contributing to the market.

According to a study published in the NCBI in 2019, the North America incidence of inflammatory bowel disease (IBD) treatment is around 2.2 to 19.2 cases per 100,000 persons per year. It was also published that around 238 per 100,000 populations in U.S. were suffering from ulcerative colitis. Furthermore, The Centres for Disease Control and Prevention (CDC) estimates that in U.S., every year nearly 1-1.3 million people suffer from inflammatory bowel disease.

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In addition, involvement of regulatory bodies for funding and designation is expected to propel the growth of the market. For instance, the Crohn's and Colitis Foundation offers grants and fellowships for research on inflammatory bowel disease (includes Crohn's disease and ulcerative colitis).

Growing geriatric population is expected to positively impact the overall market. According to an article published in 2018 in the United States Census Bureau, it is estimated that by 2035, the population aged 65 years and above is expected to reach 78 million, whereas children under the age of 18 might be around 76.7million.

Moreover, companies such as Johnson & Johnson Services Inc.; Pfizer Inc.; Takeda Pharmaceutical Company Limited; and AbbVie Inc. are majorly involved in product research and development and this is also considered as one of the major driving factors for the market.

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Further key findings from the report suggest:

• The global inflammatory bowel disease treatment market is anticipated to reach USD 22.4 billion by 2026, exhibiting a CAGR of 4.4% from 2018 to 2026

• Crohn's disease dominated the market by type in 2018 due to increasing incidence of the disease. On the other hand, ulcerative colitis was estimated to be the fastest growing segment owing to presence of strong pipeline products for its treatment

• By route of administration, injectables dominated the IBD treatment market in 2018 while oral was estimated to be the fastest growing segment over the forecast period

• Aminosalicylic acid (ASAs) was considered to be the largest oral segment in 2018 and JAK inhibitors to be the fastest growing segment

• In 2018, TNF-inhibitors dominated the injectables segment while anti-integrins are estimated to be the fastest growing segment

• Hospital pharmacy was the largest segment in 2018 with a market share of 36.6% and online pharmacy was anticipated to be the fastest owing to the comfort, flexibility and convenience provided

• North America held the dominant share in 2018 owing to presence of key companies in this region. Asia Pacific, on the other hand, was estimated to be the fastest growing region

• Some of the key companies operating in this inflammatory bowel disease treatment market are Johnson & Johnson Services Inc.; Pfizer Inc.; Takeda Pharmaceutical Company Limited; AbbVie Inc.; Celltrion Healthcare Co., Ltd.; CELGENE CORPORATION; COSMO PHARMACEUTICALS; Innovate Biopharmaceuticals; UCB S.A.; and Gilead Sciences.