The Latin America, Middle East and Africa Inflammatory Bowel Disease Treatment Market would witness market growth of 12.5% CAGR during the forecast period (2021-2027).
Sometimes, people suffering from inflammatory bowel disease have active lifestyle. However, the symptoms of ulcerative colitis and Crohn’s disease disrupt life. Many people opt for surgery as an option to cure the disease whereas some people take medications and go into remission. The healthcare providers also recommend some of the changes in the lifestyle and diet to control inflammatory bowel disease.
Further, biosimilars like Renflexis, Hyrimoz, Inflectra, and Imraldi are increasingly receiving approvals that are anticipated to fuel the adoption of efficacious treatment as it offers several benefits in comparison to the conventional treatment options. Additionally, biosimilar products such as Hulio, IXIFI, Cyltezo, and Avsola have also received approval and are also anticipated to gain traction and receive high demand in the coming years. Thus, the demand for biosimilars would rise in developing nations. Moreover, the biosimilars that are used for pediatric Crohn’s disease are increasingly receiving approvals, which will support the growth of the market across the world.
The inflammatory bowel disease treatment market is likely to grow at a moderate pace in LAMEA. The factors contributing to the growth of the regional market are the prevalence of anxiety & depression, advancements in medical technology, government support for inflammatory bowel disease treatment research, and the growing prevalence of Crohn's Disease and Ulcerative Colitis. Additionally, the unhealthy lifestyle of people, increase in alcohol consumption and cigarette smoking, and irregular food habits are other factors supporting the growth of the market.
Moreover, the growing popularity of prebiotic and probiotic foods, rise in investments in building a robust pipeline for IBD, and increase in lifestyle-related risk factors would accelerate the growth of the market in the upcoming years. Further, the increase in the expenditure in the healthcare sector in the region, growing geriatric population base, and increasing prevalence of Crohn's disease and Ulcerative Colitis are also contributing to the growth of the regional inflammatory bowel disease treatment market in the forthcoming years.
The Brazil market dominated the LAMEA Ulcerative Colitis Market by Country 2020, thereby, achieving a market value of $206 million by 2027. The Argentina market would witness a CAGR of 13.9% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 13.2% during (2021 - 2027).
Based on Type, the market is segmented into Crohn's Disease and Ulcerative Colitis. Based on Distribution Channel, the market is segmented into Hospital Pharmacy, Retail Pharmacy and Online Pharmacy. Based on Route of Administration, the market is segmented into Injectable and Oral. Based on Drug Class, the market is segmented into TNF inhibitors, Anti-integrin, IL inhibitors, Corticosteroids, JAK inhibitors, Aminosalicylates and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Inflammatory Bowel Disease Treatment Market is Predict to reach $29.2 Billion by 2027, at a CAGR of 8.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Allergan PLC (AbbVie), Johnson & Johnson, Merck Group, Amgen, Inc., Eli Lilly and Company, Biogen, Inc., Pfizer, Inc., Novartis AG, Takeda Pharmaceutical Company Limited, and UCB S.A.
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