The irritable bowel syndrome (IBS) drugs market is anticipated to garner a large revenue by growing at a significant CAGR over the forecast period i.e. 2021 – 2029. The key factors that are estimated to drive the growth of the market are rise in the geriatric population, increasing prevalence of gastrointestinal diseases, escalating intake of unhealthy foods worldwide and growing stress levels among population globally. It was calculated that about 11% - 14% people in the United States of America suffer from irritable bowel syndrome. In addition to these, hike in availability of over-the-counter medications and surging investments by key players to develop effective cure for IBS are other factors considered to drive market growth. Moreover, rising number of awareness campaigns regarding the treatment of irritable bowel syndrome is expected to offer opportunities for the expansion of market in the near future.
The market is segmented by type into IBS with diarrhea (IBS-D), IBS with constipation (IBS-C), and mixed IBS (IBS-M), out of which, the IBS with diarrhea (IBS-D) segment is anticipated to hold leading share in the irritable bowel syndrome drugs market. This can be accounted to the growing prevalence of constipation and diarrhea and increase in consumption of medicines such as linaclotide and lubiprostone. Furthermore, based on product, the segment for Xifaxan is estimated to gather the largest market share during the forecast period owing to the escalating adoption of the drug and its success to stop the growth of harmful bacteria. However, the Linzess segment is expected to witness highest CAGR in the near future ascribing to the increasing usage of this drug in China, Japan and Europe.
The irritable bowel syndrome drugs market is segmented into five major regions, including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America is projected to lead the worldwide market in terms of share owing to the availability of cheap fast food and growing trend of sedentary lifestyle in the region. In addition to this, Europe region is expected to also hold a significant market share, which can be credited to the presence of the key players who are into manufacturing various medical treatments for IBS. Moreover, Asia-Pacific is predicted to offer attractive prospects for market growth during the forecast period owing to the growing awareness about irritable bowel syndrome and rising acceptance of products used for the treatment of IBS in the region. Expansion of healthcare infrastructure, increasing number of hospitals with specialized medical facilities and surge in innovation in healthcare technologies are also anticipated to drive the growth of the market in the region in the coming years. CLICK TO DOWNLOAD SAMPLE REPORT
The irritable bowel syndrome drugs market is further classified on the basis of region as follows:
Our in-depth analysis of the irritable bowel drugs market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing incidences of irritable bowel syndrome and growing availability of over the counter drugs are estimated to boost market growth.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021 – 2029.
Rising competition among key players and lack of specific treatment for IBS symptoms are estimated to hamper the market growth.
Asia Pacific region will provide more opportunities to the market owing to growing awareness about irritable bowel syndrome and increasing adoption of medications for the same.
The major players in the market are Ardelyx, Inc., Astellas Pharma Inc., AstraZeneca, GlaxoSmithKline Plc, Johnson & Johnson Services, Inc., and others.
The company profiles are selected based on the 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, product, end user, and by region.
The IBS-D segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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