Worldwide Irritable Bowel Syndrome (IBS) Diagnostics Industry to 2028 - Increasing Disposable Incomes Present Opportunities - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Irritable Bowel Syndrome (IBS) Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Diagnosis (Laboratory Tests, Imaging Tests); Indication (Pain and Cramping, Diarrhea, Constipation, Alternating Constipation and Diarrhea), and Geography" report has been added to ResearchAndMarkets.com's offering.
The global irritable bowel syndrome (IBS) diagnostics market is expected to reach US$ 3,880.91 million by 2028 from US$ 2,470.61 million in 2020; it is estimated to grow at a CAGR of 5.80% from 2020 to 2028.
Increasing prevalence of irritable bowel syndrome and associated conditions and increasing number of FDA approvals and diagnostics developments are the factors driving the global irritable bowel syndrome (IBS) diagnostics market. However, the challenges in diagnosis of IBS are hindering the market growth.
Irritable bowel syndrome (IBS) is defined as a gastro-intestinal disorder causing discomfort in the stomach, along with diarrhea, and constipation. IBS can develop after a severe session of diarrhea (gastroenteritis) caused by bacteria or a virus. IBS might also be associated with a surplus of bacteria in the bowels (bacterial overgrowth). People exposed to stressful events, especially in childhood, tend to have more symptoms of IBS. IBS diagnostics is done through medical history, physical exam, and imaging tests. However, IBS is majorly diagnosed by lactose intolerance tests, breath test for bacterial overgrowth, blood test, and stool test. The tests are done based on symptoms such as constipation-predominant, diarrhea-predominant, or mixed. It can also detect by various imaging tests such as CT Scan or X-ray, upper endoscopy, and colonoscopy.
Irritable bowel syndrome is a chronic gastrointestinal condition that is caused due to disturbances in bowel habits and abdominal pain. The disease is also known as spastic colon, irritable colon, mucous colitis, and spastic colitis. Irritable bowel syndrome shows symptoms such as abdominal pain, constipation, diarrhea, and cramping.
People across the world are witnessing considerable incidence of irritable bowel syndrome. According to the data published by International Foundation for Gastrointestinal Disorders, among all irritable bowel syndrome patients, about 40% of people have mild IBS, around 35% have moderate IBS, and an estimated 25% have severe IBS. Food allergies, developing stages of gastroenteritis, sporadic movements of colon, abnormal composition of serotonin in colon, and mild celiac disease are among the risk factors that cause irritable bowel syndrome.
According to a study published on NCBI in 2018, irritable bowel syndrome is estimated to affect around 10-16% of the US population each year. Further, as per the IBS Global Impact Report, in 2016, an estimated mean prevalence of individual countries ranged from 1.1% in France and Iran to 35.5% in Mexico. Latin America had a prevalence rate of 17.5%, Asia 9.6%, North America/Europe/Australia/New Zealand 7.1%, and the Middle East & Africa had a prevalence rate of 5.8%. Such staggering prevalence of irritable bowel syndrome is likely to boost the irritable bowel syndrome (IBS) diagnostics market during the forecast period.
Based on diagnosis, the global irritable bowel syndrome (IBS) diagnostics market is segmented into laboratory tests and imaging tests. In 2020, the laboratory tests segment held the largest share in the market. Moreover, the segment is expected to hold the largest market share by 2028. The market growth is mainly attributed to the growing prevalence of irritable bowel syndrome (IBS) worldwide, which is likely to continue in the coming years due to disturbances in bowel habits and abdominal pain. This, in turn, is boosting the demand for diagnosis of these diseases worldwide.
Based on indication, the global irritable bowel syndrome (IBS) diagnostics market is segmented into pain and cramping, diarrhea, constipation, and alternating constipation and diarrhea. The pain and cramping segment held the largest market share in 2020, and it is further expected to dominate the market by 2028. Antispasmodics and antidepressants are medication used to treat IBS pain and cramping.
- Increasing Prevalence of Irritable Bowel Syndrome and Associated Conditions
- Increasing number of FDA approvals and diagnostics developments
- Challenges in Diagnosis of IBS
- Increasing disposable incomes of the population
- Development of medical devices for the diagnosis of irritable bowel syndrome
- Commonwealth Diagnostics International
- Genova Diagnostics
- Gemelli Biotech
- Prometheus Laboratories
- Inova Diagnostics, Inc.
- Biohit Oyj
- Aerodiagnostics, LLC.
- Metabolic Solutions, Inc.
- Sysmex Corporation
- BUHLMANN Laboratories AG
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