The global IBS-C drug market is estimated to grow and record a CAGR of 9.21% during the forecast period, 2020-2028. The factors augmenting the global market growth are growing lifestyle-oriented diseases, an increase in healthcare expenditure, severe gastrointestinal infection, an increasing number of patients suffering from depression, and medical advancements.
Irritable bowel syndrome (IBS) is prevalent in the general population and has affected adversely in terms of substantial and socio-economic impact. There are about 10-20% of the population experiencing symptoms of IBS, but 15% of affected individuals seek medical treatment. Due to highly prevailing modern dietary habits, such as intake of fried foods, insoluble fiber, and excessive consumption of alcohol and caffeine, there is a rise in the number of people suffering from IBS. The factors acting as market constraints are strict FDA regulations and ignorance among people. There are some serious after-effects of the drugs used to treat IBS. Thus, the industry suffers from strict regulations from the FDA and other regulatory authorities, leading to many drugs being called off from the market and or not approved by the FDA. Competition is high among the existing players in the market due to the presence of a few approved therapies. Companies are competing with each other by providing the products with similar features at similar or lower prices, and also by acquiring major companies.
The global IBS-C drug market is analyzed geographically on the basis of markets situated across the region of North America, Europe, Asia Pacific, and the Rest of the World. As of 2019, the region of North America holds the largest market share in terms of revenue, and continues the trend by the end of the forecast period. This is attributed to the government initiative to improve the healthcare sector by providing the latest technological medication and advanced treatment support.
Novartis, Teva Pharmaceutical Industries, Catalent Pharma Solutions, Actavis Nordic, Yuhan Corp., etc. are some of the prominent players registering their presence in the global market.
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- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments