The Global Crohn’s Disease Market Report is expected to exhibit a solid 3% CAGR over the forecast period from 2016 to 2022, according to a new research report from Market Research Future (MRFR). The Global Crohn’s Disease Market is mainly driven by the growing awareness about Crohn’s and other inflammatory bowel diseases.Crohn’s disease is an inflammatory bowel disease that can affect any part of the gastrointestinal tract. Around 1.4 million Americans suffer from either Crohn’s disease or ulcerative colitis, signifying its growing prevalence and threat. The growing awareness about inflammatory bowel diseases is likely to be a major driver for the global Crohn’s disease market over the forecast period.
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The increasing demand for biologics to treat Crohn’s disease is likely to be a prominent feature of the global Crohn’s disease market over the forecast period. Biologics offer a more comprehensive solution to the incidence of Crohn’s disease, including safer action and more effective eradication of the disease. Increasing interest in biologics and their high potential in curing a number of diseases has resulted in a growing demand for biologics for the treatment of Crohn’s disease.
On the other hand, the high cost of current treatments has held back the global Crohn’s disease market and is likely to remain a significant restraint on the market in the short term, till biologics can be developed on an industrial scale and brought into mass circulation.
Leading players in the Global Crohn’s Disease Market include
· Allergan Inc.
· Takeda Pharmaceutical Company Limited
· UCB S.A.
· Pfizer Inc.
· Ferring B.V.
· Johnson & Johnson Services Inc.
· Perrigo Company plc
· Bayer AG
· AbbVie Inc.
Initiating genetic research into the development and treatment of Crohn’s disease is likely to prove to be a fruitful avenue for market players over the forecast period. Market players could even attempt to collaborate with established research institutions such as institutes and universities to come up with novel research to treat Crohn’s disease. The role played by genetic components in the development of Crohn’s disease is strong; as a result, genetics is likely to play a key role in the development of the antidote to the disease.
The Global Crohn’s Disease Market Report is segmented on the basis of procedure, drugs, and region.
By procedure, the global Crohn’s disease market is segmented into colonoscopy, flexible sigmoidoscopy, CT, MRI, capsule endoscopy, double-balloon endoscopy, and small bowel imaging. Colonoscopy, flexible sigmoidoscopy, and computed tomography (CT) are likely to remain the leading procedures used to diagnose Crohn’s disease.
By drugs, the global Crohn’s disease market is segmented into anti-diarrheal drugs, antibiotics, pain relievers, immune system suppressors, and anti-inflammatory drugs.
North America is likely to dominate the global Crohn’s disease market over the forecast period due to the growing prevalence of the disease in North America, the growing awareness about Crohn’s disease and other inflammatory bowel diseases, and the rising establishment of genetic research facilities in the U.S. and Canada.
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Crohn’s disease is more prevalent in developed European and North American economies than in underdeveloped Asian or Latin American countries, leading to the former two regions accounting for the major shares in the global Crohn’s disease market over the forecast period. Large-scale availability of effective Crohn’s disease medication, easy linkup between genetic research and day-to-day healthcare sector operations, and the growing spending capacity of consumers in North America are likely to ensure the region’s dominance in the global Crohn’s disease market over the forecast period. In Asia Pacific, China is likely to be a major consumer for Crohn’s disease testing and medication over the forecast period.