PUBLISHER: The Business Research Company | PRODUCT CODE: 1414147
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414147
“Crohn's Disease Treatment Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on crohn's disease treatment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for crohn's disease treatment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The crohn's disease treatment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Crohn's disease treatment encompasses medical interventions and therapies designed to manage Crohn's disease, a chronic gastrointestinal condition. The primary goals of treatment are to mitigate inflammation in the intestines, prevent symptom flare-ups, and sustain overall recovery.
The key drug categories in Crohn's disease treatment include antibiotics, aminosalicylates, corticosteroids, immunomodulators, and others. Antibiotics are pharmaceuticals utilized for both treating and preventing bacterial infections. These drugs are accessible through diverse channels, including hospital pharmacies, retail pharmacies, and online pharmacies. They find applications in various medical conditions such as neuropathic pain, fibromyalgia, chronic back pain, arthritic pain, migraine, post-operative pain, cancer pain, and other therapeutic areas.
The Crohn's disease treatment market research report is one of a series of new reports from The Business Research Company that provides Crohn's disease treatment market statistics, including Crohn's disease treatment industry global market size, regional shares, competitors with a Crohn's disease treatment market share, detailed Crohn's disease treatment market segments, market trends and opportunities, and any further data you may need to thrive in the Crohn's disease treatment industry. This Crohn's disease treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The crohn's disease treatment market size has grown strongly in recent years. It will grow from $11.82 billion in 2023 to $12.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%.The expansion observed during the historical period can be credited to several factors, including heightened disease prevalence, advancements in diagnostic techniques, increased adoption of biological therapies, improved patient awareness and education, and the progress in clinical research and development.
The crohn's disease treatment market size is expected to see strong growth in the next few years. It will grow to $16.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period can be attributed to the adoption of personalized medicine approaches, the expansion of the biologics market, the evolution of treatment guidelines, increased healthcare spending, and collaborative research efforts. Significant trends expected during the forecast period include the use of telemedicine for patient management, ongoing research on immune modulation strategies, the implementation of patient-centric care models, and the integration of digital health solutions.
The anticipated growth in the Crohn's disease treatment market is fueled by the increasing prevalence of inflammatory bowel disorders. These chronic conditions involve inflammation of the gastrointestinal tract, affecting various segments from the mouth to the anus. Crohn's disease treatment plays a crucial role in reducing intestinal inflammation, preventing symptom flare-ups, and maintaining remission. A global survey conducted by the American Gastroenterological Association in April 2020, covering 73,076 adult respondents across 33 countries, revealed that over 40% of individuals worldwide experience Functional Gastrointestinal Disorders (FGIDs), impacting both quality of life and healthcare utilization. The rising prevalence of inflammatory bowel disorders is a significant driver of the Crohn's disease treatment market.
The projected growth of the Crohn's disease treatment market is propelled by the rising aging population. As demographic shifts lead to an increased proportion of elderly individuals, the prevalence of chronic conditions such as Crohn's disease rises, driving demand for corresponding treatments. According to the World Health Organization's October 2022 projections, by the year 2030, one in six individuals globally will be 60 years old or older. The global population of individuals aged 60 and above is expected to reach 1.4 billion by 2030 and double to 2.1 billion by 2050. This demographic trend contributes significantly to the growth of the Crohn's disease treatment market.
A key trend gaining momentum in the Crohn's disease treatment market is product innovation. Major companies within the sector are dedicated to developing innovative products to enhance their market position. In May 2023, AbbVie Inc., a prominent US-based pharmaceutical company, received U.S. Food and Drug Administration (FDA) approval for Rinvoq (upadacitinib), indicated for treating moderate to highly active Crohn's disease. Rinvoq's approval was based on efficacy and safety assessments in randomized induction studies (CD-1 and CD-2) involving 857 patients with moderately to highly active Crohn's disease.
Major companies in the Crohn's disease treatment market are directing efforts toward the development of new treatment options, including oral medications for moderate-severe Crohn's disease. In March 2022, AbbVie Inc. announced FDA approval for RINVOQ (upadacitinib), the first once-daily oral medication for patients with moderate-to-severe Crohn's disease. This selective Janus kinase (JAK) inhibitor precisely targets inflammation pathways, offering a potential reduction in adverse events linked to immunosuppression.
In March 2022, Pfizer Inc., a prominent US-based biopharmaceutical company, completed the acquisition of Arena Pharmaceuticals Inc. for approximately $6.7 billion. This strategic acquisition aimed to expand Pfizer's inflammation and immunology therapeutic area pipeline portfolio, encompassing conditions such as atopic dermatitis, eosinophilic esophagitis, ulcerative colitis, and Crohn's disease. Arena Pharmaceuticals Inc., a US-based biopharmaceutical company, significantly contributes to Pfizer's presence and offerings in the Crohn's disease treatment market.
Major companies operating in the crohn's disease treatment market report are AbbVie Inc., AstraZeneca plc, Boehringer Ingelheim GmbH, Celgene Corporation, Eli Lilly and Company, Janssen Pharmaceuticals, Pfizer Inc., Takeda Pharmaceutical Company Limited, Biogen Inc., Bristol-Myers Squibb Company, Galapagos NV, Gilead Sciences Inc., Novartis AG, Sanofi S.A., Union Chimique Belge, Astellas Pharma Inc., F. Hoffmann-La Roche Ltd., Vertex Pharmaceuticals Incorporated, Teva Pharmaceutical Industries Ltd., Merck & Co. Inc., Regeneron Pharmaceuticals Inc., Mylan N.V., Glenmark Pharmaceuticals, Tillotts Pharma AG, Dr. Falk Pharma GmbH, Shire Pharmaceuticals, Salix Pharmaceuticals, Prometheus Laboratories Inc., Arena Pharmaceuticals Inc.
North America was the largest region in the global Crohn's disease treatment market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the crohn's disease treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the crohn's disease treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The crohn's disease treatment market consists of sales of vedolizumab, methotrexate, and infliximab. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.