Global Irritable Bowel Syndrome Treatment Market Size, Share, Forecast Report, 2020-2027
The irritable bowel syndrome treatment market size was valued at $1,071 million in 2018, and is estimated to reach at $2,012 million by 2026, registering a CAGR of 8.2% from 2019 to 2026.
Irritable bowel syndrome (IBS) is a common gastrointestinal disorder that affects the large intestine. Signs & symptoms include abdominal pain, bloating, gas, cramping, and constipation or diarrhea. There are three types of irritable bowel syndrome such as IBS with diarrhea (IBS-D), IBS with constipation (IBS-C), and Mixed IBS. Treatment of irritable bowel syndrome consist of stress relief, change in diet, proper medicines, and counselling. Medications available for the treatment of irritable bowel syndrome include rifaximin, eluxadoline, lubiprostone, linaclotide, and others. Furthermore, antispasmodics are also used for the treatment of irritable bowel syndrome, which include dicyclomine, peppermint oil, and hyoscyamine.
Rise in geriatric population, increase in prevalence of gastrointestinal diseases and disorders such as alteration of bowel habit and abdominal pain, surge in level of stress, and unhealthy diet are the major factors that drive the growth of the irritable bowel syndrome treatment market. In addition, increase in awareness programs regarding the treatment and management of irritable bowel syndrome and surge in inclination toward IBS products that enhance therapeutic outcome are other factors that contribute toward the growth of the market. Furthermore, untapped potential offered by the developing economies present lucrative opportunities for the growth of the market during the forecast period. However, lack of specific treatment that treat all the symptoms of the IBS disorder and high competition among the key players related to pricing are expected to restrain the growth of the market.
Irritable Bowel Syndrome Treatment Market Segmentation
The irritable bowel syndrome treatment market is segmented into type, product, end user, and region. Depending on type, the market is categorized into IBS with diarrhea (IBS-D), IBS with constipation (IBS-C), and Mixed IBS. On the basis of product, the market is bifurcated into rifaximin, eluxadoline, lubiprostone, linaclotide, and others. On the basis of end user, the market is divided into hospitals pharmacies, drug stores & retail pharmacies, and online pharmacies. On the basis of region, the irritable bowel syndrome treatment market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Segment Review
Based on type, the market is segmented into IBS with diarrhea (IBS-D), IBS with constipation (IBS-C), and Mixed IBS. The IBS with diarrhea (IBS-D) segment acquired the largest irritable bowel syndrome treatment market share in 2018. Furthermore, this segment is also expected to experience growth at the fastest rate during the forecast period, owing to increase in prevalence of gastrointestinal diseases such as constipation and diarrhea due to change in lifestyles, increase in geriatric population, surge in uptake of drugs such as linaclotide and lubiprostone, and rise in patient awareness toward the treatment of irritable bowel syndrome.
According to product, the rifaximin segment generated the highest revenue in 2018 and is expected to maintain its dominance throughout the forecast period. This is attributed to increase in prevalence of irritable bowel syndrome, surge in adoption of the irritable bowel syndrome products, rise in geriatric population, increase in awareness toward irritable bowel syndrome and improved diagnosis, and development of technological advanced treatment products that has driven the demand for use of irritable bowel syndrome treatment market products worldwide.
Snapshot of Asia-Pacific Irritable Bowel Syndrome Treatment Market
Asia-Pacific presents lucrative opportunities for the key players operating in the irritable bowel syndrome treatment market, growth in awareness regarding the treatment of irritable bowel syndrome, and rise in adoption of irritable bowel syndrome treatment products. Moreover, improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced medical facilities, the developing R&D sector, rise in healthcare reforms, and technological advancements in the field of healthcare further contributes to the market growth. Some other factors such as surge in focus of leading manufacturers on expanding their geographic presence in emerging Asia-Pacific countries to capture high growth opportunities in the market, high population base, and high disposable incomes are expected to drive the growth of the irritable bowel syndrome treatment market in Asia-Pacific.
The key players profiled in this report include Abbott Laboratories, Allergan plc, Ardelyx Inc., Astellas Pharma Inc., AstraZeneca plc, GlaxoSmithKline Plc, Johnson & Johnson (McNeil Consumer Healthcare), Novartis AG, Sebela Pharmaceuticals Inc., and Takeda Pharmaceutical Company Ltd.
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