PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550600
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550600
Global inflammatory bowel disease market is estimated to be valued at USD 22.31 Bn in 2024 and is expected to reach USD 30.10 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 22.31 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: | 4.40% | 2031 Value Projection: | US$ 30.10 Bn |
Inflammatory bowel disease (IBD) refers to two conditions - Crohn's disease and ulcerative colitis - that are characterized by chronic inflammation within the gastrointestinal tract. IBD predominantly affects the small and large intestines but can sometimes extend throughout other areas of the digestive system. Typical symptoms of IBD vary between patients but often include recurring abdominal pain, diarrhea, vomiting, weight loss, and fatigue. While the precise etiologies remain unclear, IBD is believed to arise due to inappropriately regulated immune responses to environmental triggers in genetically susceptible individuals. Currently available treatment options aim to induce and maintain remission by targeting different components of the immune system. As these approaches are not curative, IBD poses a substantial clinical and economic burden worldwide.
Global inflammatory bowel disease market growth is primarily driven by rising prevalence of Crohn's disease and ulcerative colitis due to lifestyle changes, growing environmental risks, and prolonged lifespan in developed nations. Increasing research activities focused on developing novel selective and personalized therapies, growing awareness about early diagnosis and management of IBD, and rising healthcare expenditure across major markets can also drive the market growth. However, stringent drug development regulations and high costs associated with IBD diagnostic tools and medications can hamper the market growth. Ongoing R&D in biologics, stem cell and gene-based therapies can offer lucrative opportunities for stakeholders.
Detailed Segmentation-