The irritable bowel syndrome (IBS) treatment market was valued at US$ 2,153.89 million in 2020 and is projected to reach US$ 4,600.30 million by 2028; it is expected to grow at a CAGR of 10.1% from 2021 to 2028.
The report highlights the key factors driving the market growth and prominent players with their developments in the market.
The major factors such as the increasing prevalence of irritable bowel syndrome diseases and rising research & development activities drive the market growth. However, the limited number of product availability and treatment inefficiency restrain the market growth. IBS is a common chronic condition that affects the abdominal organ, large intestine. It is also known as spastic colon, mucous colitis, irritable colon, and spastic colitis. The condition is much different than inflammatory bowel disease. It shows symptoms such as cramping, abdominal pain, bloating, gas, and diarrhea or constipation, or both at the same. If the symptoms are mild, they can be managed by changing stress, lifestyle, and diet. On the other side, severe symptoms are treated with medication and counseling.
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Increasing Prevalence of Irritable Bowel Syndrome and Associated Conditions
Irritable bowel syndrome is a majorly observed chronic gastrointestinal condition that is caused due to disturbances in bowel habits and abdominal pain. The disease is also known as spastic colon, irritable colon, mucous colitis, and spastic colitis. Irritable bowel syndrome shows symptoms such as abdominal pain, constipation, diarrhea, and cramping. Health systems across the regions are witnessing considerable growth in the incidence of irritable bowel syndrome. A data published by International Foundation for Gastrointestinal Disorders states that among all IBS patients, about 40% patients have mild IBS, around 35% have moderate IBS, and an estimated 25% suffer from severe IBS. Many people don’t recognize IBS symptoms.
Certain factors such as food allergies, developing stages of gastroenteritis, sporadic movements of colon, abnormal composition of serotonin in colon, and mild celiac disease are among the risk factors that can cause IBS. These factors are projected to accelerate the rate of IBS prevalence across the world. For instance, according to a study published on NCBI in 2018, IBS is estimated to affect around 10% to 16% of the US population each year. Such staggering prevalence of IBS is likely to boost the irritable bowel syndrome (IBS) treatment market during the forecast period.
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.
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Irritable Bowel Syndrome (IBS) Treatment Market: Competitive Landscape and Key Developments
Ironwood Pharmaceuticals, Inc.; AbbVie.; Sebela Pharmaceuticals, Inc.; Takeda Pharmaceutical Company Limited; Alfasigma S.p.A.; Astellas Pharma Inc.; AstraZeneca; Synthetic Biologics, Inc.; Bausch + Lomb Incorporated; and Lannett Company Inc are among the leading companies operating in the market.
Based on type, the irritable bowel syndrome (IBS) treatment market is segmented into mixed IBS (IBS-M), IBS with diarrhea (IBS-D), and IBS with constipation (IBS-C). The mixed IBS (IBS-M) segment held the largest share of the market in 2020. Also, the same segment is expected to register the highest CAGR during 2021–2028. In the coming years, the rising prevalence of IBS among women and men is anticipated to propel the demand for the medicines that can treat combined symptoms of constipation and diarrhea. According to updated Rome IV criteria, the reverse condition of IBS-M is described as a model of hard or irregular stools in more than 25% of bowel movements. The prevalence is higher in the geriatric population. Therefore, the demand for medicines to treat mixed IBS is likely to grow significantly during the forecast period,
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