Crohn’s disease treatment market to look at genomes based on artificial intelligence at a compound annual growth rate of 3.0%

Crohn's disease treatment market to look at genomes based on artificial intelligence at a compound annual growth rate of 3.0%

Crohn's disease treatment market to look at genomes based on artificial intelligence at a compound annual growth rate of 3.0%Crohn’s disease treatment market 2022

According to a study by Persistence Market Research (PMR), the demand for anti-inflammatory drugs and biologics to treat Crohn’s disease will gain momentum in the near future. PMR forecasts that the global Crohn’s disease market is set to reach US$4,474.8 million by the end of 2024, at a compound annual growth rate of 3% over the assessment period.

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The new generation of wearable technologies aligns with stress, heart rate and blood oxygen detectors, allowing healthcare professionals to accurately monitor vital signs in real time as well. The current scenario is also seeing an influx of virtual hospital wards, where central communications infrastructure is used to oversee the treatment of many patients, also remotely. This is how the Crohn’s disease treatment market will behave in the near future.

The Crohn’s & Colitis Foundation of America (CCFA) states that more than 1 million Americans have been diagnosed with Crohn’s disorders and ulcerative colitis, most of them over the age of 30. The increasing incidence of Crohn’s disease has increased the demand for its treatments. A survey conducted by the US Center for Disease Control (CDC) found that the incidence of Crohn’s disease in the country ranges from 3.1 to 14.6 new cases per 100,000 population annually. The disease is highly prevalent in developed countries, especially among individuals who smoke. According to a study by Persistence Market Research (PMR), the demand for anti-inflammatory drugs and biologics to treat Crohn’s disease will gain momentum in the near future. PMR forecasts that the global Crohn’s disease market is set to reach US$4,474.8 million by the end of 2024, at a compound annual growth rate of 3% over the assessment period.

The increasing demand for biopharmaceuticals to treat bowel disorders such as ulcers and Crohn’s disease is driving the overall growth of the Crohn’s disease market. Moreover, pharmaceutical manufacturers are actively focusing on advanced products with high efficiency. The increasing number of patients is an additional factor that is expected to influence the growth of the market between 2016 and 2024. Therefore, the greater use and preference for biological pharmacological and anti-inflammatories along with the increasing popularity of biosimilars is expected to play an important role in shaping the future market.

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The high cost of treatment will remain a major obstacle to the market. Moreover, patient expiration of popular drugs and lack of early diagnosis especially in third world countries are some of the other obstacles that are likely to prevent market growth during the forecast period.

Main directions

High preference for symptomatic therapies and drugs over surgeries, better treatment management for inflammatory bowel diseases, and market access of improved drugs due to health investments in research and development programs are some of the major trends governing the market.

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Company Profile:

  • Allergan, Inc.
  • UCB SA
  • AbbVie Inc.
  • Perrigo plc
  • Takeda Pharmaceutical Co., Ltd.
  • Pfizer Inc
  • Johnson & Johnson Services, Inc.
  • Bayer AG
  • Ferring BV

Market Overview

While biopharmaceuticals will continue to be the most preferred type of drug for both healthcare professionals and patients, the demand for anti-inflammatory drugs will also see a significant acceleration during the forecast period. Depending on the drug type, the anti-inflammatory drug segment is expected to reach a market valuation of US$1095.9 million by the end of the evaluation period.

Based on the distribution channel, hospital pharmacies will continue to be the leading segment of the market during the forecast period. Whereas, the retail pharmacy segment is expected to register the highest growth rate, with a market valuation of $1,470.2 million by 2024.

The PMR results based on the regional assessment indicate that the North American Crohn’s disease market will continue to lead the group during the forecast period. The region market is expected to be worth $3,149.8 million during 2014. However, the Asia Pacific region is expected to experience the highest compound annual growth rate during the forecast period. The Asia Pacific region market is expected to create an absolute opportunity of USD 13.2 million in 2017 compared to 2016.

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The main questions have been answered in this report.

  • What is the market growth rate in the future?
  • What are the key factors driving the global market?
  • Who are the major manufacturers in the market space?
  • What are the opportunities and threats faced by the vendors in the global industry?
  • What are sales, revenue, and price analysis by industry regions?

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