Crohn's Disease Treatment Market Progresses for Huge Profits during 2018 - 2025
Crohn’s Disease is a type of inflammatory bowel disease (IBD) causing inflammation and damage to the digestive tract usually affecting the end of small intestine and beginning of colon, but inflammation may occur anywhere along the digestive tract. The disease may be hereditary or grow due to the malfunctioning of the immune system. It includes some risk factors, such as genetics, combined with an overactive immune system & the environmental changes, and certain bacteria, like, mycobacterium, etc.
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Demand Scenario
The global Crohn’s disease treatment market was USD 9,674 million in 2018 and is estimated to reach USD 12,834 million by 2025 at a CAGR of 4.12% during the forecast period
Growth by Region
North America accounted for the largest market share in 2018 due to the largest contribution from the growing US market. Growth in Europe is driven by the higher per capita income and strong healthcare penetration in the region. Asia Pacific is likely to create significant growth opportunities for the market players owing to develop infrastructure, R&D activities related to biologics and increase in prevalence of Crohn’s disease in the region. Emerging countries such as India and China are expected to show the fastest growth owing to increase in R&D investment and healthcare expenditure in these countries.
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Drivers and Restraints
The major driver for Crohn’s disease treatment market is increase in number of people being infected by the disease. Moreover, increase in demand for biologics and high unmet needs within the anti-TNF refractory patient group that presents untapped market opportunities. Moreover, strong pipeline and novel mechanisms to treat Crohn’s disease are boosting the growth of the market. However, patent expiry of the important drugs, high cost of treatment, high R&D investment for development of biological drugs and unknown aetiology of the Crohn’s disease are the factors hindering the market growth.
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Industry Trends and Updates
In 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. In 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) that they have developed to treat the complex perianal fistulae in adult patients with non-active(mildly active) luminal Crohn’s disease. This is the initial allogeneic stem cell therapy (originating from donor stem cells) to receive central marketing authorisation (MA) approval in Europe.