The North America Inflammatory Bowel Disease Treatment Market would witness market growth of 6.7% CAGR during the forecast period (2021-2027).
Inflammatory bowel disease is a condition that remains for a longer period wherein a patient suffers from inflammation of the gut or digestive tract. Based on the report by the Centers for Disease Control and Prevention (CDC), in the US, around 3 million Trusted Source people are suffering from inflammatory bowel disease. Among these people, most of them had been diagnosed with the disease before they reached 30 years of age.
Moreover, the existence of strong pipeline products for treating patients suffering from inflammatory bowel disease would surge the growth of the market in the coming years. As per the report by the US National Library of Medicine, in 2019, approximately 730 clinical trials comprising observational studies, drug development, and others, were conducted for inflammatory bowel disease and among these 268 clinical trials were conducted across the US.
The inflammatory bowel disease treatment market is growing rapidly in North America. The factors contributing to the growth of the regional market are developed healthcare facilities, the presence of key players in the region, high prevalence & incidence rates of inflammatory bowel disease, and new product development and approvals. In addition to this, increased investment in research and development activities, a rise in an unhealthy lifestyle, and new pipeline products are also accountable to accelerate the market growth in the coming years.
Moreover, North America is a highly developed region, and people residing in this region are focusing on living a luxurious life. Governments in this region are also offering various reimbursement policies to the patients, which is attracting patients to go for treatments. Further, there is a huge availability of novel drugs for inflammatory bowel disease. Therefore, it is anticipated that the inflammatory bowel disease treatment market will continue growing at the fastest pace in the region.
The US market dominated the North America Retail Pharmacy Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3003.9 million by 2027. The Canada market is experiencing a CAGR of 9.8% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 8.9% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Inflammatory Bowel Disease Treatment Market is Estimated 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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