The Irritable Bowel Syndrome Market is being driven by Increasing prevalence of IBS
The Irritable Bowel Syndrome Market is expected to grow at a CAGR of 9.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1931.9 million. The global Irritable Bowel Syndrome (IBS) market is witnessing a significant trend with an increasing number of regulatory approvals for innovative therapies aimed at managing IBS symptoms. Notable agencies, such as the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA), have expedited the approval process for these treatments due to the substantial impact IBS has on patients' quality of life. In a recent development, Ironwood Pharmaceuticals announced the FDA's approval of a new indication for Linzess (linaclotide) to treat functional constipation in pediatric patients aged 6 to 17 years. This approval underscores the growing recognition of the urgent need for effective treatment options in the IBS market.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
209 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.3% |
Market growth 2024-2028 |
USD 1931.9 million |
Market structure |
concentration |
YoY growth 2023-2024(%) |
9.0 |
Key countries |
US, China, Germany, Japan, UK, India, France, Canada, Australia, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Irritable Bowel Syndrome (IBS) market encompasses various treatments and resources. These include colorectal surgery, mental health interventions, and supplements like probiotics, prebiotics, and fiber. Medications such as antidiarrheal, antispasmodic, anti-anxiety, and pain relievers are also utilized. Digital tools like IBS-specific apps, online resources, community forums, and telemedicine are essential. Patient advocacy, research funding, data collection, bioinformatics, machine learning, artificial intelligence, and precision medicine are pivotal in advancing IBS understanding and treatment. Prevention strategies complete the comprehensive approach to managing IBS.
The Irritable Bowel Syndrome (IBS) market encompasses businesses involved in the research and development (R&D) or production of IBS medications, therapies, and diagnostic tools. According to Technavio, the global pharmaceuticals market, which includes the revenue generated by manufacturers and providers of pharmaceuticals, is projected to expand due to several factors. One significant driver is the increasing aging population, with Europe and the US projected to have over 25% of their populations aged 60 and above by 2030 and 2050, respectively. This demographic shift will lead to a higher demand for IBS treatments and medications to manage symptoms and improve the quality of life for those affected.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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