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Irritable Bowel Syndrome Treatment Market to Develop Rapidly by 2022
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The market of irritable bowel syndrome treatment is witnessing positive growth owing to establishment of well-defined diagnosis criteria and exploration of novel therapeutic classes by the key market players. Additionally, change in lifestyle and eating habits increases the incidence of this disorder that may escalate the use of this treatment and hence drive the market growth. However, lack of specific treatment which treat all the symptoms of this disorder may restrain the growth of this market. In addition, higher competition among the key players in terms of pricing is anticipated to hamper overall growth of this market.
Depending on geographic regions, global irritable bowel syndrome treatment market is segmented into five key regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Geographically, North America dominates the global irritable bowel syndrome treatment market.
High degree of therapeutic needs and penetration of generic drugs in North American market is anticipated to drive the growth of this market. Meanwhile, Europe is considered as the second largest market owing to the large patient population undergoing diagnosis of irritable bowel syndrome coupled with the increasing demand for treatment.
Launch of novel drugs with improved efficacy which provide sustained relief from irritable bowel syndrome in APAC region primarily drives the growth of this market. In addition, growing awareness regarding chronic nature of irritable bowel syndrome among the people will further drive the growth of this market in APAC region.
Increased awareness about available treatment among the patients, medical community is one of the major driver in global irritable bowel syndrome treatment market.Increase in the number of patients, rise in the aging population, increasing demand for efficiency, increase in the incidence and prevalence of irritable bowel syndrome cases and increase in awareness, the global irritable bowel syndrome market is expected to have a healthy growth rate in the forecast period.
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Various key players dominating the global irritable bowel syndrome treatment market comprise Valeant Pharmaceuticals International Inc., Sucampo Pharmaceuticals, Inc., Abbott Laboratories, Lexicon Pharmaceuticals, Salix Pharmaceuticals, Ironwood Pharmaceuticals, Inc., GlaxoSmithKline plc. Allergan Plc. among others.
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