The Latin America, Middle East and Africa Inflammatory Bowel Disease Treatment Market is expected to witness market growth of 12.5% CAGR during the forecast period (2021-2027).
Sometimes, people suffering from inflammatory bowel disease have active lifestyle. However, the symptoms of ulcerative colitis and Crohn’s disease disrupt life. Many people opt for surgery as an option to cure the disease whereas some people take medications and go into remission. The healthcare providers also recommend some of the changes in the lifestyle and diet to control inflammatory bowel disease.
Further, biosimilars like Renflexis, Hyrimoz, Inflectra, and Imraldi are increasingly receiving approvals that are anticipated to fuel the adoption of efficacious treatment as it offers several benefits in comparison to the conventional treatment options. Additionally, biosimilar products such as Hulio, IXIFI, Cyltezo, and Avsola have also received approval and are also anticipated to gain traction and receive high demand in the coming years. Thus, the demand for biosimilars is expected to rise in developing nations. Moreover, the biosimilars that are used for pediatric Crohn’s disease are increasingly receiving approvals, which will support the growth of the market across the world.
The inflammatory bowel disease treatment market is likely to grow at a moderate pace in LAMEA. The factors contributing to the growth of the regional market are the prevalence of anxiety & depression, advancements in medical technology, government support for inflammatory bowel disease treatment research, and the growing prevalence of Crohn's Disease and Ulcerative Colitis. Additionally, the unhealthy lifestyle of people, increase in alcohol consumption and cigarette smoking, and irregular food habits are other factors supporting the growth of the market.
Moreover, the growing popularity of prebiotic and probiotic foods, rise in investments in building a robust pipeline for IBD, and increase in lifestyle-related risk factors is expected to accelerate the growth of the market in the upcoming years. Further, the increase in the expenditure in the healthcare sector in the region, growing geriatric population base, and increasing prevalence of Crohn's disease and Ulcerative Colitis are also contributing to the growth of the regional inflammatory bowel disease treatment market in the forthcoming years.
The Brazil market dominated the LAMEA Ulcerative Colitis Market by Country 2020, thereby, achieving a market value of $206 million by 2027. The Argentina market is expected to witness a CAGR of 13.9% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 13.2% during (2021 - 2027).
Based on Type, the market is segmented into Crohn's Disease and Ulcerative Colitis. Based on Distribution Channel, the market is segmented into Hospital Pharmacy, Retail Pharmacy and Online Pharmacy. Based on Route of Administration, the market is segmented into Injectable and Oral. Based on Drug Class, the market is segmented into TNF inhibitors, Anti-integrin, IL inhibitors, Corticosteroids, JAK inhibitors, Aminosalicylates and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Allergan PLC (AbbVie), Johnson & Johnson, Merck Group, Amgen, Inc., Eli Lilly and Company, Biogen, Inc., Pfizer, Inc., Novartis AG, Takeda Pharmaceutical Company Limited, and UCB S.A.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Crohn's Disease and
- Ulcerative Colitis
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
By Route of Administration
- Injectable
- Oral
By Drug Class
- TNF inhibitors
- Anti-integrin
- IL inhibitors
- Corticosteroids
- JAK inhibitors
- Aminosalicylates
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Allergan PLC (AbbVie)
- Johnson & Johnson
- Merck Group
- Amgen, Inc.
- Eli Lilly and Company
- Biogen, Inc.
- Pfizer, Inc.
- Novartis AG
- Takeda Pharmaceutical Company Limited
- UCB S.A.
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Table of Contents
Companies Mentioned
- Allergan PLC (AbbVie)
- Johnson & Johnson
- Merck Group
- Amgen, Inc.
- Eli Lilly and Company
- Biogen, Inc.
- Pfizer, Inc.
- Novartis AG
- Takeda Pharmaceutical Company Limited
- UCB S.A.
Methodology
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