Crohn’s Disease Treatment Market to Grow with a CAGR of 3.45% through 2028
Rising
aging
population's growing dental needs are expected to drive the Global Crohn’s
Disease Treatment Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Crohn’s
Disease Treatment Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Crohn’s
Disease Treatment Market stood at USD 11.01 billion in 2022 and is anticipated
to grow with a CAGR of 3.37% in the forecast period, 2024-2028. Crohn's
disease, a chronic inflammatory bowel disease (IBD), has witnessed significant
advancements in its treatment landscape over the years. These advancements are
fueled by various market drivers that have not only improved the quality of
life for patients but also expanded the global market for Crohn's disease
treatment. Crohn's disease
has seen a steady rise in its prevalence globally. According to the Crohn's
& Colitis Foundation, more than 3 million people in the United States alone
are affected by IBD, with Crohn's disease accounting for a significant portion
of these cases. A similar trend is observed in other regions, including Europe
and Asia. This growing patient population is a primary driver for the expansion
of the Crohn's disease treatment market.
Ongoing research into the underlying mechanisms of
Crohn's disease has led to the development of novel therapies. Researchers have
gained a better understanding of the immune system's role in the disease,
leading to the emergence of biologic drugs that target specific inflammatory
pathways. These advancements have not only improved treatment efficacy but have
also expanded the range of treatment options available to patients. Biologics
have transformed the treatment landscape for Crohn's disease. Drugs like
infliximab, adalimumab, and ustekinumab have shown remarkable success in
inducing and maintaining remission in patients with moderate to severe disease.
Biologics offer targeted therapy with fewer side effects compared to
traditional immunosuppressive drugs, making them a preferred choice for many
patients and healthcare providers.
The focus on patient-centered care has driven the
development of personalized treatment plans. Healthcare providers are
increasingly tailoring treatment regimens to individual patient needs, taking
into account factors such as disease severity, genetics, and lifestyle. This
approach enhances treatment outcomes and patient satisfaction. The global
increase in healthcare expenditure, coupled with improved reimbursement
policies, has made advanced treatments more accessible to Crohn's disease
patients. This has allowed patients to access costly but highly effective
biologics and other innovative therapies.
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Technological innovations have played a pivotal role
in the Crohn's disease treatment market. Diagnostic tools such as endoscopy and
imaging techniques have become more precise and less invasive, aiding in the
early diagnosis and monitoring of the disease. Telemedicine and remote
monitoring have also become integral in providing continuous care to patients,
especially in the wake of the COVID-19 pandemic.
The Global Crohn’s Disease Treatment Market is
segmented into Product & Service, Application, End -User, Regional
Distribution, And Company.
Based on the Drug Type, Others segment
emerged as the dominant segment in the global market for Global Crohn’s Disease
Treatment Market in 2022. Others include drug types such as biologic therapies
and are crucial in the treatment of Crohn's disease, have gained immense
popularity and have become the cornerstone of Crohn's disease treatment.
Biologics have demonstrated impressive results in inducing and maintaining
remission in patients with moderate to severe Crohn's disease. They
specifically target inflammatory molecules and pathways, leading to better
symptom control and disease management. Biologics offer a significant advantage
over traditional treatments like corticosteroids and immunomodulators because
they have a more targeted approach. As a result, they often come with fewer
systemic side effects, making them a preferred choice for many patients. Some
patients do not respond adequately to other drug types like amino salicylates,
corticosteroids, and immunomodulators. In such cases, biologic therapies often
provide a lifeline, offering a higher likelihood of achieving remission. Effective
use of biologics can sometimes reduce the need for surgical interventions to
manage complications, such as strictures or fistulas, which can arise from
Crohn's disease.
Based on the Distribution Channel, the
Retail pharmacies segment emerged as the dominant player in the global market
for Global Crohn’s Disease Treatment Market in 2022. Retail pharmacies are
easily accessible to patients in both urban and rural areas. Patients can visit
these brick-and-mortar stores to fill their prescriptions conveniently. This
accessibility ensures that a wider patient population can obtain their
prescribed Crohn's disease medications promptly. Retail pharmacies typically
maintain a stock of commonly prescribed Crohn's disease medications, ensuring
immediate availability when patients need them. This is crucial for patients
experiencing sudden symptoms or requiring urgent refills. Retail pharmacies
offer the advantage of face-to-face interactions between pharmacists and
patients. Pharmacists can provide essential counselling, guidance on medication
usage, and address any concerns or questions patients may have about their
Crohn's disease treatments. This personalized approach enhances patient
understanding and adherence to treatment regimens.
North America emerged as the dominant player in the
global Crohn’s Disease Treatment Market in 2022, holding the largest market
share. The region boasts advanced healthcare infrastructure and robust research
and development capabilities, facilitating the rapid adoption of cutting-edge
therapies. Furthermore, a high prevalence of Crohn's disease cases in North
America has driven demand for innovative treatments. Additionally, favorable
reimbursement policies and increased awareness of the disease have further
solidified North America's position as a leader in the global market.
Major companies operating in Global Crohn’s
Disease Treatment Market are:
- Eli Lilly and Company
- AbbVie Inc.
- AstraZeneca plc
- Boehringer Ingelheim GmbH
- Celgene Corporation
- Novartis AG
- Sanofi SA
- Takeda Pharmaceutical Company Limited
- Mylan N.V.
- Amgen Inc
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“The Global
Crohn's Disease Treatment Market is poised for substantial growth in the coming
years. This anticipation is driven by several factors, including ongoing
advancements in medical research, the emergence of targeted and biologic
therapies, and a growing awareness of the disease. The development of more
effective and personalized treatment approaches is improving patient outcomes
and quality of life, driving the demand for innovative therapies. Additionally,
the global prevalence of Crohn's disease is steadily rising, underscoring the
need for expanded treatment options and services. Furthermore, increasing
healthcare investments, coupled with patient advocacy efforts, are creating a
conducive environment for the market's expansion.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Crohn’s Disease Treatment Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Drug
Type (Antibiotics, Amino Salicylates, Corticosteroids, Immunomodulator, Other),
By Application (Neuropathic Pain, Fibromyalgia, Chronic Back Pain, Arthritic
Pain, Migraine Post-Operative Pain, Cancer Pain, Other), By Distribution
Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) By Region
and Competition”, has evaluated the future growth potential of Global
Crohn’s Disease Treatment Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Crohn’s
Disease Treatment Market.
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