Global Crohn's Disease Treatment Market Is Estimated To Witness Growth Due To Increasing Technological Advancement And Growing Prevalence Of Chronic Disease

Crohn's Disease Treatment Market
 Crohn's Disease Treatment Market

Overview:

Crohn's disease affects the gastrointestinal (GI) tract. Its symptoms can range from mild to severe. The condition is usually diagnosed after ruling out other possible causes. An upper GI endoscopy can be done to examine the lining of the small intestine. A balloon-assisted enteroscopy is an option for patients with suspected abnormalities.

Although there is no known cure, a number of treatments can help control symptoms and reduce complications. Medications may be used to relieve inflammation. This can relieve some of the more common symptoms of Crohn's disease, such as abdominal pain and diarrhea. Some medications can also be used to prevent infections. Lifestyle changes can help decrease Crohn's symptoms. These include exercise, staying hydrated, and changing diet.

Market Dynamics:

Growing partnerships among key players is anticipated to propel growth of the global Crohn's Disease Treatment Market over the forecast period. For instance, an Israeli technology start-up CytoReason, partnered up with a Switzerland-based multinational pharmaceutical company Ferring Pharmaceuticals in May 2021. This partnership is aiming to develop new inflammatory bowel disease treatments using artificial intelligence technology. Moreover, lack of awareness regarding treatment options is estimated to hinder growth of the global Crohn's disease treatment for market over the forecast period.

Impact of COVID-19:

The pandemic was first reported in China in 2019 and it was then transmitted to many nations. IN 2020, this outbreak was declared as a public health emergency by the World Health Organization. This outbreak affected many nations like China, India, the US, Spain, Italy, France, Australia, UAE, and many more. The healthcare facilities of many nations was under immense pressure while battling the virus. This led to prioritizing COVID-19 patients over other diseases. Many hospitals were running on full capacity, so patients suffering from other diseases were either treated remotely or the treatments were postponed. This had a negative impact on the global Crohn's Disease Treatment Market. However, in the post-pandemic ear conditions are much better and the market is estimated to witness growth again.

Key Takeaways:

The global Crohn's Disease Treatment Market is anticipated to witness significant growth, exhibiting CAGR at high rate over the forecast period, owing to growing product approvals.

For instance, a biopharmaceutical company, AbbVie Inc., declared that the .S. Food and Drug Administration has approved their first and only specific interleukin-23 (IL-23) inhibitor SKYRIZI in June 2022. North America is anticipated to witness significant growth in the global Crohn's disease treatment market over the forecast period, due growing presence of advanced healthcare infrastructure and rising awareness regarding oral health in the region.

Major players operating in the global Crohn's disease treatment for market are AbbVie Inc., Amgen Inc., AstraZeneca, Janssen Biotech, Inc., Mylan N.V., Bristol-Myers Squibb Company, Takeda Pharmaceutical Company Ltd, Boehringer Ingelheim GmbH, Sanofi, Pfizer Inc., Novartis AG, and Eli Lilly and Company.

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