According to Market Research Future (MRFR)’s new study, the global irritable bowel syndrome treatment market is projected to thrive at a CAGR of 7.58% during the forecast period 2018 to 2023. The valuation of the global market has been estimated to reach USD 2,988.6 Mn towards the end of 2023 from USD 1,890.9 Mn in 2017. It is presumed to scale new heights over the next few years owing to the consolidation of a substantial patient population.
The constantly increasing economic burden of IBS affects work productivity and leads to an increase in healthcare costs. This, in turn, has raised awareness about the disorder, thus, favoring the expansion of the global market. In addition, the large-scale prevalence of anxiety and depression is anticipated to catalyze the growth of the irritable bowel syndrome treatment market over the assessment period.
The key players are continually investing in drug development for capitalizing on the rising patient pool. Furthermore, the collaborations among the key players are supposed to have a positive influence on the proliferation of the irritable bowel syndrome treatment market. On the flip side, stringent regulations framed by governments and limited patient satisfaction are predicted to hinder the proliferation of the market during the assessment period.
Global Market for Irritable Bowel Syndrome Treatment – Segmental analysis:
This MRFR report offers a detailed segmental analysis of the global irritable bowel syndrome treatment market based on type, drug type, and end-user. By type, the market has been segmented into IBS-C, IBS-D, and IBS-M. Among these, IBS-D segment is currently dominating the global market and is projected to retain its dominance in the upcoming years. Its valuation is poised to reach USD 1790.6 Mn striking a CAGR of 8.31% over the assessment period.
By drug type, the irritable bowel syndrome treatment market has been segmented into lubiprostone, linaclotide, eluxadoline, rifaximin, alosetron, and others. The linaclotide segment is expected to grow significantly in the foreseeable future. It is anticipated to mark a relatively higher CAGR of 7.95% through the projection period. The growth trajectory of the segment is forecasted to be dictated by the increasing collaborations among the key players.
By end-user, the market is segmented into hospitals, clinics, research laboratories, and others. Among these, the hospital segment accounts for the maximum share of the irritable bowel syndrome treatment market and is presumed to thrive at a comparatively higher CAGR across the review period. The factors that are likely to drive the expansion of the segment in the forthcoming years include the rising number of hospitals, increasing demand for affordable treatments, and growing patient population.
The Global Irritable Bowel Syndrome Treatment Market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is the largest market for irritable bowel syndrome treatment. The regional market is likely to benefit from the rising awareness about IBS, increasing patient pool, presence of a developed healthcare sector, rising burden of IBS, etc. The valuation of the market is estimated to grow from USD 851.1 Mn in 2017 to USD 1,416.2 Mn by the end of 2023, striking a CAGR of 8.69% through the assessment period. North America is poised to command a larger share of the regional market than South America over the next few years.
Europe resonates promising potential for growth and is prognosticated to accelerate revenue creation for market participants in the forthcoming years. Factors such as rising research & development expenditure, the presence of a huge patient population, growing demand for treatment options are expected to catapult the irritable bowel syndrome treatment market in the region on an upward trajectory.
The irritable bowel syndrome treatment market in Asia Pacific is poised to witness significant growth in the upcoming years. The rapid developments in the healthcare sector coupled with rising healthcare expenditure is projected to provide an impetus to the market expansion.
Global Market for Irritable Bowel Syndrome Treatment – Competitive Dashboard:
Some of the key players profiled in the report are Abbott, Allergan Inc., Ardelyx Inc., Astellas Pharma, Inc., Ironwood Pharmaceuticals, Lexicon Pharmaceuticals, Inc., Mallinckrodt, Nestle Health Science, Synergy Pharmaceuticals Inc., and Valeant Pharmaceuticals International, Inc.
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