Increase in geriatric population, rise in the prevalence of gastrointestinal disorders, and surge in the number of pipeline drugs have boosted the growth of the global irritable bowel syndrome treatment market
PORTLAND, Oregon, Feb. 17, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Irritable Bowel Syndrome Treatment Market by Type (IBS with Diarrhea (IBS-D), IBS with Constipation (IBS-C), and Mixed IBS (IBS-M), Product (Rifaximin, Eluxadoline, Lubiprostone, Linaclotide, and Others), and End User (Hospitals Pharmacies, Drug Stores & Retail Pharmacies, and Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2019-2026". According to the report, the global irritable bowel syndrome treatment industry was pegged at $1.07 billion in 2018 and is expected to reach $2.01 billion by 2026, registering a CAGR of 8.2% from 2019 to 2026.
Incentives for market growth
Increase in geriatric population, rise in the prevalence of gastrointestinal disorders, and surge in the number of pipeline drugs have boosted the growth of the global irritable bowel syndrome treatment market. However, poor demand from under-developed countries hampers the market growth. On the contrary, untapped potential in the developing economies is expected to create lucrative opportunities in the near future.
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The rifaximin segment dominated the market
By product, the Rifaximin segment held the largest share in 2018, accounted for more than one-third of the global irritable bowel syndrome treatment market. Moreover, the segment is expected to register the largest CAGR of 9.4% during the forecast period, due to increased demand to treat IBS with Diarrhea (IBS-D) caused by Escherichia coli (E. coli) bacteria in adults and children. The report includes an analysis of other segments such as Eluxadoline, Lubiprostone, Linaclotide, and others.
The online pharmacies segment to manifest the fastest CAGR through 2026
The online pharmacies segment is anticipated to register the fastest CAGR of 9.9% from 2019 to 2026, owing to rise in preference for online purchasing of drugs over the traditional methods, surge in awareness regarding online pharmacies, and increase in the number of Internet users. However, the drug stores and retail pharmacies segment held the largest share in 2018, accounting for more than half of the global irritable bowel syndrome treatment market, due to strong presence of retail pharmacies around the globe and the convenience offered by them.
North America held the lion's share
The global irritable bowel syndrome treatment market across North America held the largest share in 2018, accounting for nearly half of the market, owing to rise in gastrointestinal diseases such as abdominal pain, diarrhea, and constipation and presence of advanced healthcare facilities with trained medical professionals. However, the market across the Asia-Pacific region is projected to register the fastest CAGR of 9.9% during the forecast period. This is due to improvement in healthcare infrastructure, rise in the number of hospitals equipped with advanced medical facilities, presence of the developing R&D sector, and increase in healthcare reforms.
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Major market players
- Abbott Laboratories
- Ardelyx Inc.
- Allergan plc
- AstraZeneca plc
- Astellas Pharma Inc.
- Johnson & Johnson (McNeil Consumer Healthcare)
- GlaxoSmithKline Plc
- Sebela Pharmaceuticals Inc.
- Novartis AG
- Takeda Pharmaceutical Company Ltd.
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