Increase The Prevalence Of Lifestyle Disorders Namely Irritable Bowel Syndrome Market
The Global Irritable Bowel Syndrome Treatment Market by drug type (lubiprostone, linaclotide, eluxadoline, rifaximin, alosetron, and others), medical condition (IBS-constipation and IBS-diarrhea), distribution channel (hospital pharmacies, online pharmacies, and retail pharmacies) and region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 726.1 million in 2016 and is projected to exhibit a CAGR of 12.9% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Growing prevalence of irritable bowel syndrome associated with lifestyle factors, stress, and increasing number of options for the treatment are expected to be the major factors driving the growth of the global irritable bowel syndrome treatment market over the forecast period.
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Manufacturers are focusing on upgrading the available treatment options as well as developing new solutions for symptom specific irritable bowel syndrome. Allergan plc received the U.S. Food & Drug Administration (FDA) approval for Viberzi (eluxadoline) for the treatment of IBS in adult men and women in 2015. Also, the company received approval of Health Canada for IBS-D in 2017. Valeant Pharmaceuticals International, Inc. received approval from the U.S. Food and Drug Administration (FDA) for Xifaxan for the treatment of IBS-D in 2015.
The major players are also expanding the product portfolio and their IBS therapies through mergers and acquisitions. Valeant Pharmaceuticals International, Inc. acquired Salix Pharmaceuticals, Inc. in 2015 along with the latter’s popular brand Xifaxan. The manufacturers are spreading the awareness about IBS through direct-to-consumer campaign advertisements for IBS drugs. For instance, Allergan and Ironwood Pharmaceuticals launched the first DTC campaign for Viberzi in 2015.
Browse 43 Market Data Tables and 34 Figures spread through 194 Pages and in-depth TOC on Irritable Bowel Syndrome Treatment Market by Drug Type (lubiprostone, linaclotide, eluxadoline, rifaximin, alosetron and others), Medical Condition (IBS-constipation and IBS-diarrhea), Distribution Channel (hospital pharmacies, online pharmacies and retail pharmacies) and Region (North America, Latin America, Europe, Asia-Pacific, the Middle East, and, Africa) – Global Forecast to 2025
Manufacturers are focusing on developing novel gastrointestinal therapies for the treatment of irritable bowel syndrome by actively investing in research and development of pipeline products. For instance, Synergy Pharmaceuticals, Inc. announced the acceptance of supplemental new drug application for Trulance (Plecanatide) for IBS treatment in 2017. Furthermore, Sucampo Pharmaceuticals, Inc.’s pipeline products include lubiprostone for pediatric functional constipation (6 years – 17 years) in phase two and lubiprostone alternate formulation for pediatric constipation (6 months – 6 years). Also, Ardelyx, Inc. reported successful phase 3 T3MPO trial of Tenapanor in patients with irritable bowel syndrome with constipation. Astellas Pharma, Inc. is conducting clinical trials for ASP7147, in the treatment of IBS. Norgine B.V. is having Plenvu, as osmotic laxative in clinical trials and the company entered into an agreement with Noventure to commercialize Gelsectan in Spain, Portugal and Andorra in 2017. Synthetic Biologics, Inc. is developing SYN-010 (modified-release reformulation of lovastatin lactone) as a therapy in irritable bowel syndrome with constipation.
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Key Takeaways of the Irritable Bowel Syndrome Treatment Market:
The global irritable bowel syndrome treatment market is expected to exhibit a CAGR of 9% over the forecast period (2017–2025), owing to the presence of high potential markets, especially in Asia Pacific, Latin America, the Middle East, and Africa
Robust developments in drug therapies and increasing knowledge about physiology of the irritable bowel syndrome is expected to drive the global irritable bowel syndrome treatment market
Some major players operating in the irritable bowel syndrome treatment market include Abbott Laboratories, Synergy Pharmaceuticals, Inc., Sucampo Pharmaceuticals, Inc., Valeant Pharmaceuticals International, Inc., Ardelyx, Inc., Astellas Pharma Inc., Novartis AG, GlaxoSmithKline plc., and Ironwood Pharmaceuticals, Inc.
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