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Crohn's Disease (CD) Treatment Market Key Drivers, Size, Trends, Growth, Outlook 2024-2033
Crohn's Disease (CD) Treatment Market Key Drivers
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According to The Business Research Company's, The crohn's disease (cd) treatment market size has grown strongly in recent years. It will grow from $11.13 billion in 2023 to $11.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to rising prevalence of crohn's disease, growing awareness of the disease, government initiatives, changing lifestyle.
The crohn's disease (cd) treatment market size is expected to see steady growth in the next few years. It will grow to $14.22 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to growing demand for combination therapies, increasing adoption of biologics, investments in research and development on crohn's disease (cd) treatments. Major trends in the forecast period include development biologic drugs, innovative products, advanced diagnostic tools, biosimilars adoption.
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Market Drivers and Trends:
The increasing prevalence of inflammatory bowel diseases is expected to propel the growth of the Crohn's disease (CD) treatment market going forward. Inflammatory bowel disease (IBD) is a group of chronic inflammatory disorders primarily affecting the gastrointestinal (GI) tract. Crohn's disease (CD) treatment offers relief from symptoms, reduces inflammation, promotes remission and enhances the overall quality of life for individuals suffering from chronic inflammatory bowel disease. For instance, in May 2021, according to BioMed Central Ltd., a UK-based scientific open-access publisher, it is expected that between 2020 and 2035, there will be 69 thousand Inflammatory bowel disease cases in Iran, 220 thousand cases in the Middle East, 2.2 million cases in India and 4.5 million cases in East Asia. Therefore, the increasing prevalence of inflammatory bowel diseases drives the Crohn's disease (CD) treatment market.
Major companies operating in the Crohn's disease (CD) treatment market are introducing new technologies, such as IBDSENSE, to sustain their position in the market. For instance, in March 2023, The IRR Chemistry Hub, a Scotland-based interdisciplinary hub, developed IBDSENSE. This technology aims to improve inflammatory bowel disease diagnosis and monitoring using non-invasive methods, including Crohn's disease. The project uses fluorescence-based technology to measure the enzyme activity of Granzyme B (GzmB) in patient biosamples. This technology aims to improve the patient experience and treatment choices.
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Crohn's Disease (CD) Treatment Global Market Report 2024
Pfizer Inc., Johnson and Johnson Ltd., Merck and Co. Inc., AbbVie Inc., Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, Abbott Laboratories, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Amgen Inc., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Mylan N.V., Bausch Health Companies Inc., UCB S.A., Sun Pharmaceutical Industries Ltd., Perrigo Company PLC, Dr. Reddy's Laboratories Ltd., Aurobindo Pharma Limited, Cipla Limited, Ferring B.V., Hikma Pharmaceuticals PLC, Amneal Pharmaceuticals LLC.
Crohn's Disease (CD) Treatment Market 2024 Key Insights:
• The crohn's disease (cd) treatment market size is expected to see steady growth in the next few years. It will grow to $14.22 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%.
• Increasing Prevalence Of Inflammatory Bowel Diseases Fuels Growth In The Crohn'S Disease Treatment Market
• Market Leaders Innovate With Ibdsense Technology In The Crohn'S Disease Treatment Market
• North America was the largest region in the Crohn's disease (CD) treatment market in 2023
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Pfizer
Sanofi
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GSK
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Market segment by Regions/Countries, this report covers
United States
EU
Japan
China
India
Southeast Asia
Market segment by Type, Crohn Disease can be split into
Small Intestine and Ileocephalitis
Colon Disease
Market segment…
