Global Crohn’s Disease Market - Overview
Crohn’s Disease, a type of inflammatory bowel disease (IBD) affecting GI (gastrointestinal) tract, has some risk factors leading to it, such as genetics, combined with an overactive immune system & the environmental changes, and certain bacteria, like, mycobacterium, etc. Over the period, there have been many novel medicines & therapies developed to treat the disease.
For instance, barium enema, barium, colonoscopy and X-ray of the small bowel are its diagnosis methods. Whereas topical antibiotics, 5-ASA compounds & corticosteroids, immunomodulators and drugs like biosimilars can suppress inflammation in the immune system. Moreover, antibiotics and surgical procedures have been developed to ease the Crohn’s Disease conditions. With these, the global Crohn’s Market has become a well-established & pervasively growing market.
Acknowledging the prominence and the value this market is garnering currently and the growth prospect the market is demonstrating, Market Research Future (MRFR), recently published a brilliant study report giving out the complete market prognosis up till 2023. According to MRFR, the Global Crohn's Disease Drug Market is expected to grow exponentially, registering a phenomenal CAGR during the forecasted period (2017 -2023).
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Other factors propelling the market growth include increasing risk factors, proliferating healthcare sector along with the increasing number of advanced HC facilities and the increasing awareness about the treatment method. Improving economic conditions that enable access to the quality life & to the improved healthcare worldwide are proving impetus to the market growth.
Advancements in surgeries especially, in the minimally invasive surgeries, fuel the market growth. Technological advancements transpired in the medical science backed by the substantial investments in the R&D activities for the innovation & development of the medical devices, treatments & medicines foster the market growth of Crohn’s Disease, excellently.
On the other hand the factors such as incidents of drug resistance, unmet clinical needs, and complications occurring during surgeries coupled with the high cost associated with the treatments are expected to restrict the market growth. Nevertheless, emergence of Biosimilars would certainly avail affordable, cost effective medical products, which, in turn will propel the market growth of Crohn’s Disease.
Crohn’s Disease Market - Competitive Analysis
The global Crohn’s Disease market is a fragmented market with a large number of players. Product development strategy has been curtailed by the excellent efficiency and efficacy of drugs. However, the rise of drug resistance has opened doors for new drug development and is an opportunity for a new market leader. The rise of spurious and counterfeit medicines have reduced the total market revenues and at the same time displaced standard drugs off the market.
Industry/Innovations/Related News:
March 27, 2018 – Researchers at the University of Alberta (Canada), published the study of the potential biomarkers they have developed to help reduce the suffering of Crohn’s disease patients. These scientists used high performance liquid chromatography with mass spectrometry and created a profile of potential biomarkers.
April 03, 2018 - TiGenix NV (Belgium), a global cell therapy company and Takeda Pharmaceutical (Japan), the largest global pharmaceutical company, together announced approval from the EC (European Commission) for the treatment Alofisel (darvadstrocel) they have developed to treat the complex perianal fistulae in adult patients with non-active(mildly active) luminal Crohn’s disease. This is the first allogeneic stem cell therapy (originating from donor stem cells) to receive central marketing authorisation (MA) approval in Europe.
Global Crohn’s Disease Market – Segments
Global Crohn’s Disease Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
By Procedures: Comprises - Colonoscopy, Flexible Sigmoidoscopy, Magnetic Resonance Imaging (MRI), Computerized Tomography (CT), Capsule Endoscopy, and Small Bowel Imaging & Double-Balloon Endoscopy among others.
By Drug Types: Anti-Diarrheal, Antibiotics, Immune System Suppressors, Anti-Inflammatory Drugs Pain Relievers among others.
By Regions: North America, Europe, APAC and Rest of the World.
Crohn’s Disease Market - Regional Analysis
North America accounts for the largest market share of the global Crohn’s market followed by the Europe & Asia Pacific regions. The North America market is growing due to the largest contribution from the significantly growing market of the US.
On the other hand, growth of the world’s second largest market for Crohn’s Disease, (Europe) is driven by the higher per capita income and strong healthcare penetration in the region.
While Asia Pacific market for the Crohn’s Disease is expected to perceive an exponential growth. The market growth will be led by China and India owing to the huge population and the low cost of Crohn’s drugs.
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