Irritable Bowel Syndrome Treatment Market Expected to Reach $2,012 Million by 2026
Pune, Maharashtra, India, December 4 2020 (Wiredrelease) Allied Analytics –:According to a new report published by Allied Market Research, titled, “Irritable Bowel Syndrome Treatment Market by Type, Product, and End User: Global Opportunity Analysis and Industry Forecast, 2019–2026,” the global irritable bowel syndrome treatment market size was valued at $ 1,071 million in 2018, and is projected to reach $2,012 million by 2026, growing at a CAGR of 8.2% from 2019 to 2026.
Irritable bowel syndrome is a gastrointestinal tract (GT) illness with the symptoms such as alteration of bowel habits and severe abdominal pain. Usually, the digested food passes through the gastrointestinal tract (GT) and the movement of food is due to intestinal muscle contraction. The irritable bowel syndrome hinders natural movements of that muscle; thus, food material cannot pass through the digestive tract and may result in abdominal pain, diarrhea, mucus in the stool, constipation, bloating & gas, and cramping. The Centers for Disease Control and Prevention (CDC) suggested that nearly 3 million people in the U.S. were reported being treated with irritable bowel syndrome in 2015. The irritable bowel syndrome can be treated by making changes by proper medication, making changes in daily diet, and reducing stress.
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The major factors that boost the growth of the global irritable bowel syndrome treatment market are adoption of sedentary lifestyle, rise in level of stress, unhealthy diet, rise in geriatric population, surge in prevalence of gastrointestinal diseases and disorders such as alteration of bowel habit, & abdominal pain, increase in awareness programs for irritable bowel syndrome treatment, and launches of various developed pipeline drugs for the irritable bowel syndrome treatment during the forecast period. Moreover, increase in prevalence of irritable bowel syndrome in female is expected to further drive the growth of the global irritable bowel treatment market. However, lack of specific treatment which treat all the symptoms of this disorder, and high competition among the key players related to pricing are expected to restrain the irritable bowel syndrome treatment market growth.
Depending on type, the IBS with diarrhea (IBS-D) segment dominated the irritable bowel syndrome treatment market in 2018 due to rise in prevalence of gastrointestinal diseases and disorders such as alteration of bowel habit and abdominal pain, rise in level of stress, and unhealthy diet.
By product, the rifaximin segment accounted for the highest revenue share in the irritable bowel syndrome treatment market in 2018, and is expected to maintain its dominance during the forecast period. This is attributed to adoption of sedentary lifestyle and rise in geriatric population. In addition, launches of various developed pipeline drugs for the irritable bowel syndrome treatment and rise in awareness programs are expected to offer remunerative opportunities for market expansion in the near future.
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Key Findings of the Study:Based on type, the IBS with diarrhea (IBS-D) segment held 47.76% share in the global market in 2018.
Based on product, the rifaximin segment accounted for the largest irritable bowel syndrome treatment market share in 2018 and is expected to remain dominant throughout the forecast period.
Based on end user, the drug stores & retail pharmacies segment held 54.01% share in the global market in 2018.
Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 9.9% during the forecast period.
In 2018, North America accounted for the major share in the irritable bowel syndrome market size and is expected to continue this trend, owing to availability of well-developed infrastructure facilities, presence of majority of the key players, rise in gastrointestinal diseases, and huge availability of trained medical professionals. On the other hand, Asia-Pacific is estimated to register the fastest growth during the forecast period, owing to rise in disposable income, high population base, surge in the geriatric population, and increase in patient awareness toward irritable bowel syndrome treatment.
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