Inflammatory bowel disease (IBD) encompasses chronic inflammation occurring in the small and large intestines. The two major types of IBD include ulcerative colitis and Crohn's disease. Inflammatory bowel diseases require lifelong treatment and management as there are currently no cures available for these diseases. Drugs used for treatment aim to induce and maintain remission.

The global inflammatory bowel disease market is estimated to be valued at US$ 13.7 billion in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The increasing prevalence of inflammatory bowel diseases (IBD) presents a major market opportunity. According to estimates, over 1.5 million Americans suffer from IBD including ulcerative colitis and Crohn's disease. The prevalence of IBD is also rising globally with highest rates observed in developed countries. Advances in medical diagnosis have helped boost disease detection rates further. With no a cure currently available, patients require life-long treatment regimens involving drug therapies and surgery in some severe cases. The growing patient pool diagnosed with these chronic ailments ensures a consistent demand for various drugs and therapies in the inflammatory bowel disease market over the forecast period.

Porter's Analysis
Threat of new entrants: The threat of new entrants in the inflammatory bowel disease market is moderate due to high investment required and stringent regulations.
Bargaining power of buyers: The bargaining power of buyers in the inflammatory bowel disease market is high as there are many established treatment options available.
Bargaining power of suppliers: The bargaining power of suppliers in the inflammatory bowel disease market is low as there are many manufacturers and suppliers.
Threat of new substitutes: The threat of new substitutes in the inflammatory bowel disease market is moderate as new treatment options are continuously emerging.
Competitive rivalry: The competitive rivalry in the inflammatory bowel disease market is high due to presence of many established brands.

SWOT Analysis
Strengths: Extensive R&D, wide product portfolio, increasing awareness.
Weaknesses: High cost of treatment, side effects of drugs, social stigma.
Opportunities: Emerging economies, favorable reimbursement policies, online patient support groups.
Threats: Patent expiries, stringent regulations, alternative treatment options.

Key Takeaways
Global Inflammatory Bowel Disease Market Size is expected to witness high growth during the forecast period of 2023 to 2030.

Regional analysis: North America is expected to dominate the global inflammatory bowel disease market during the forecast period owing to increasing prevalence of IBD, rising research funding, and availability of advanced treatment options in the region. Europe is also estimated to account for a significant share in the market due to growing awareness about IBD. Asia Pacific is anticipated to witness fastest growth due to improving healthcare infrastructure and rapidly changing dietary patterns.

Key players: Key players operating in the inflammatory bowel disease market are Johnson & Johnson, AbbVie, Takeda Pharmaceutical Company Limited, Bausch Health Companies Inc., Pfizer, Allergan, Janssen Biotech, and Novartis AG. Johnson & Johnson dominates the market due to its wide product portfolio for both ulcerative colitis and Crohn's disease treatment.

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