The global inflammatory bowel disease market is estimated to be valued at $1.8 million and will surpass $2.5M by 2028, according to a Sept. 21 report from India-based global market intelligence firm Coherent Market Insights.
Driving the growth is an increase in cases of inflammatory bowel diseases, product launches and an increase in collaborative research programs, according to the report.
Johnson & Johnson, AbbVie, Takeda Pharmaceutical Company, UCB Pharma S.A., Pfizer, Bristol Myers Squibb, Roche Holding AG, GlaxoSmithKline, Eli Lilly & Company and Novartis International AG were named as key players in the market.
The company cited a February article published in the Journal of Crohn’s and Colitis, which found that the incidence of Crohn's disease in Europe ranged from 0.4 to 22.8 per 100,000 person each year, and the incidence of ulcerative colitis ranged from 2.4 to 44 per 100,000 person each year.
The company also referenced AbbVie's Humira being approved by the FDA to treat active ulcerative colitis in pediatric patients 5 years of age and older.
In November 2020, New York University, Columbia University and Takeda Pharmaceutical Co.partnered to advance gastroenterology research programs that will result in new therapies for patients with gastrointestinal and liver disorders.