Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
The Crohn's disease treatment market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. Increasing incidence of bowel disorders such as Crohn's disease due to lifestyle changes, rising awareness about Crohn's disease and the availability of treatments is expected to fuel this market progress. The growth of the market can also be attributed to the rising prevalence of Crohn’s disease amongst individuals on a global level. The National Institute of Health stated that Crohn's disease and ulcerative colitis affected 1.5 million people in North America and 2.5 million people in Europe in 2015. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of type, the market is segmented into Ileocolitis, Ileitis, Granulomatous colitis, Gastroduodenal Crohn’s Disease, Jejunoileitis, and Perianal Crohn’s Disease. Out of which, the Ileocolitis segment is anticipated to garner largest share as this is the most common type of Crohn’s disease. It causes inflammation of the lower portion of the small intestine, or ileum, and the large intestine, or colon.
On the basis of treatment, the market is segmented into surgical and non-surgical. Out of these two, non-surgical holds the highest share, over the forecast period. Non-surgical is further divided into anti-inflammatory, immune system suppressors, antibiotics, and others. In 2020, the anti-inflammatory segment was the largest segment of the market due to its greater efficacy compared to analgesic and immunosuppressants, while the immune system suppressors segment is expected to be the fastest-growing segment due to the reduction in surgeries and hospitalization rates.
On the basis of end users, the market is segmented into hospitals and clinics, research institutes, and others. The hospitals segment is expected to hold the highest share of the market as a considerable portion of the population with Crohn’s disease on a global level tend to choose healthcare facilities specializing in its treatment.
Crohn’s Disease Treatment Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing awareness about Crohn’s disease and the need to develop innovative inflammatory bowel disease treatment solutions in the region. Increasing R&D of biosimilars for the treatment of Crohn’s disease is expected to boost growth of the market in the Asia Pacific. In 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the R&D of novel biosimilars and drugs for the Crohn’s disease treatment. For instance, in August 2016, the U.S. Food and Drug Administration (FDA) approved two biosimilars Amjevita and Erelzi, manufactured by Amgen to treat inflammatory bowel disease.
The global Crohn’s disease treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global Crohn’s disease treatment market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing incidence of bowel disorders such as Crohn’s disease due to lifestyle changes and increasing awareness about Crohn’s disease, and the availability of treatments.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
High cost of treatment and delay in diagnosis are estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the increasing awareness about chron’s disease.
The major players dominating the chron’s disease treatment market are Pfizer Inc., Allergan, AbbVie Inc., Bayer AG, Amgen Inc., Takeda Pharmaceutical Company Limited, UCB S.A., Ferring B.V., Eli Lilly Company, Hoffman-La Roche, Bristol-Myers Squibb among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, treatment, end user and region.
With respect to application, the speciality hospitals segment is anticipated to hold the largest market share owing to the growing preference among individuals for speciality treatment facilities for diseases.
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