U.S. Center for Disease Control in a survey highlighted that Crohn’s disease’s incidence rate per 100,000 population in the country is 3.1 to 14.6 cases per annum. The Crohn’s & Colitis Foundation of America (CCFA) stated that over one million Americans over the age of 30 were diagnosed with Crohn’s & ulcerative colitis disorders in the coming years. In addition, the disease is relatively high in developing countries with increasing number of smokers.
Trends and Factors Fuelling Growth of the Market
Moreover, growing prevalence of disorders such as Crohn’s diseases and ulcerative collates are fuelling demand for biologics significantly over the coming years. Moreover, manufacturers of drugs are mainly focusing on developed products with relatively high efficiency. Growing popularity of biosimilars, increasing application and preference for anti-inflammatory drug therapies and biologics will impact growth of the global crohn’s disease market significantly. Customers mainly preference drugs and symptomatic therapeutic as compared to surgeries, enhanced treatment management of inflammatory bowel. Moreover, availability of improved drugs in the market due to increasing investment in research and development programs will be the major trends leading the global crohn’s market in the coming years.
Pfizer launched Inflectra for the treatment of inflammatory diseases such as Chron’s disease, which was shipped to the U.S. wholesalers in 2016. Moreover, Inflectra was further approved by the FDA, which is chemically similar to Remicade and treats most of the similar inflammatory diseases. TiGenix has recently hired Lonza and Takeda in order to launch trial of its off-the-shelf stem cell therapy for complications related to crohn’s disease.
Manufacturers operating in the crohn’s disease market will mainly focus on commercial distribution of medicines through commercial channels such as online portals and retail pharmacies. The commercial channels distributes corticosteroid and anti-inflammatory drugs with and without the prescription globally. Such factors are likely to impact the crohn’s disease market positively over the coming years.
In contrast to this, relatively high cost of treatment will remain a major restraint in the global Crohn’s disease market in the span of next seven years. Moreover, the patient expiry of blockbuster drugs and lack of early diagnosis, particularly in the developing countries will hinder growth of the market significantly in the coming years.
Hospital pharmacies among other distribution channels will represent a prominent segment of the global crohn’s disease market in the span of next seven years. Retail pharmacies will represent relatively high growth, and account for US$ 1,470.2 Mn by the end of 2024. Biologics among other medicines will be relatively more preferred among other types of drugs in the global crohn’s disease market in the coming years. Anti-inflammatory drugs among others will hold a market value of US$ 1,095.9 Mn over the coming years.
North America among other regions will retain dominance in the market in the span of next seven years. Whereas, APAC will register a relatively high CAGR in the coming years. Moreover, the crohn’s disease market in APAC will create an absolute $ opportunity of US$ 13.2 Mn in 2017 over 2016.
A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/9665
Majority of the leading players are mainly emphasizing on developing innovative therapies, enhancing management of supply chain to expand their presence and enhancing product offerings by taking joint initiatives. For treatment purposes, the healthcare practitioners mainly prescribe anti-inflammatory drugs such as Budesonide, Budesonide-MMX and Prednisone for anti-inflammatory drug therapies.