Global Crohn’s Disease (CD) Treatment Market to reach US$ 17.80 billion by 2033; growing at a 4.3% CAGR: Future Market Insights, Inc. Study
North American Crohn's Disease Treatment Market is expected to proliferate at a CAGR of 4.9% from 2023 to 2033. With a 27.3% global market share in 2023, the hospital pharmacy segment by distribution channel will hold the second-largest segment throughout the projected period.
NEWARK, Del, March 22, 2023 (GLOBE NEWSWIRE) -- By the end of 2023, the worldwide Crohn's Disease (CD) Treatment Market is expected to be worth US$ 11.68 billion. According to Future Market Insights, the market is expected to grow at a 4.3% CAGR from 2023 to 2033, with a market worth approximately US$ 17.80 billion by the end of 2033.
The incidence of ulcerative colitis and Crohn's disease is on the rise, which is a significant factor driving the growth of the global market for treatments for the condition. A few other factors that should be considered when creating a Crohn's disease therapy to support market expansion are the increasing prevalence of the disease and the growing awareness of it worldwide.
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The availability of drugs to manage the symptoms of inflammatory bowel disease, such as adalimumab, infliximab, certolizumab, and golimumab, also contributes to the market's expansion. Also, according to an article from NCBI 2020, ulcerative colitis is thought to affect 9 to 20 people per 100,000 people year, with 156 to 291 instances occurring in the regions of North America and Europe. Therefore, increasing ulcerative colitis instances result in increased demand for Crohn's disease treatments, which in turn propels the expansion of the Crohn's disease medications market.
The development of new therapeutic approaches for various Inflammatory Bowel Diseases (IBD) like ulcerative colitis and crohn's disease through key players' collaborations is expected to increase the adoption of inorganic strategies within the global market for treating crohn's disease over the course of the forecast period. For example, the Crohn's & Colitis Foundation and Inotrem, a biotech company in advanced clinical stages that specializes in immune checkpoint inhibitors for chronic as well as acute inflammatory syndromes, declared a scientific and technological collaboration agreement in April 2022 to support the development of a novel therapeutic strategy for Crohn's disease. Such developments are anticipated to open up new opportunities in the global market for Crohn’s disease treatment during the forecast period.
Key Takeaways from the Market Study
The Crohn's disease treatment market expanded historically between 2018 and 2022 at a CAGR of 3.2%.
More than $11.2 billion is presently spent on treating Crohn's disease globally.
Immunomodulators are predicted to lead the medication type sector in 2023 with a 53% revenue share.
The hospital pharmacy sector by distribution channel will maintain the second-largest segment during the anticipated period, with a global market share of 27.3% in 2023.
From 2023 to 2033, the North American region is expected to expand at a constant CAGR of 4.9%.
From 2023 to 2033, the Asia Pacific Crohn's Disease Treatment Market is anticipated to expand at a stable CAGR of 3.6%.
“The increasing prevalence of ulcerative colitis and Crohn’s disease along with innovative pipeline of biological therapies and medications are expected to accelerate the growth during the forecast period,” comments a Future Market Insights analyst.
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Competitive Landscape
Some of the top players in the global intraocular lymphoma disease market are:
Abbvie Inc.
Celgene Corporation
Genetech
Johnson & Johnson
Pfizer
Prometheus Laboratories Inc. (Nestle)
Salix Pharmaceuticals Inc.
Takeda's Pharmaceutical Ltd
Janssen Pharmaceuticals
Biogen
AstraZeneca
Some of the recent developments in this domain are:
In 2022, AbbVie said that SKYRIZI® (risankizumab-rzaa) has received FDA approval to be used in the management of moderately to highly active Crohn's disease. The interleukin-23 (IL-23) inhibitor SKYRIZI binds to the p19 component of IL-23 to specifically inhibit it. A variety of chronic immune-mediated disorders, including Crohn's disease, are suspected to be related to IL-23, a cytokine implicated in inflammatory processes.
Tiziana Life Sciences, a biotechnology firm that enables breakthrough immunotherapies through innovative modes of monoclonal antibody administration, announced the start of a Phase 1b clinical study in 2022 to test foralumab enteric-coated capsules orally delivered in people who have mild to moderate Crohn's Disease (CD). A unique method of inducing an anti-inflammatory immune reaction by site-targeted immunomodulation in the intestine is oral administration of foralumab.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global intraocular lymphoma treatment market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
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To understand opportunities in the intraocular lymphoma treatment, the market is segmented on the basis of drug type (Antibiotics, Amino Salicylates, Corticosteroids, Immunomodulators, Others), distribution channel (hospital pharmacies, retail pharmacies and online pharmacies) and across major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Key Segments Covered in the Crohn's Disease Treatment Market Report
By Drug Type:
Antibiotics
Amino Salicylates
Corticosteroids
Immunomodulators
Others
By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
By Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa
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Table of Content
1. Executive Summary | Crohn’s Disease (CD) Treatment Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
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