Irritable Bowel Syndrome Treatment Market Size, Share & Trends Analysis Report By Product (Rifaximin, Eluxadoline, Lubiprostone, Linaclotide, Others), By Type (IBS with Diarrhea (IBS-D), IBS with Constipation (IBS-C), Mixed IBS), By Distribution Channel (Hospitals pharmacies, Drug Stores and Retail Pharmacies, Online pharmacies) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global irritable bowel syndrome treatment market size was valued at USD 1,444.7 million in 2022. It is estimated to reach USD 4,409.56 million by 2031, growing at a CAGR of 13.2% during the forecast period (2023–2031). Several pharmaceuticals in the pipeline, including perfect drugs in the later phases of development, are anticipated to have good potential for expanding the irritable bowel syndrome treatment market.

Irritable bowel syndrome is an illness that affects the digestive tract and is characterized by altered bowel patterns and abdominal pain. IBS is abbreviated as IBS. The acronym IBS-D is another name for irritable bowel syndrome. It prevents the normal mobility of the muscle linings of the intestinal tract, which reduces the rate at which food moves through the digestive system. The degree to which an individual is affected by the symptoms of irritable bowel syndrome can determine whether they have the mild or severe subtype of the condition. These symptoms include cramping in the abdominal region, discomfort in the abdominal region, bloating, and gas, mucus in the stool, constipation, and diarrhea. Other symptoms include bloating and gas.

Irritable bowel syndrome is a situation that is defined by increased awareness of one's bodily functions as well as abnormal motions of the gastrointestinal tract; however, the precise source of the condition is unknown. Irritable bowel syndrome (IBS) can be diagnosed using various methods, including endoscopic procedures, blood tests, stool testing, and external imaging studies.

Market Dynamics

Global Irritable Bowel Syndrome Treatment Market Drivers:

Rise in Geriatric Population

The proportion of older adults in the world's population is growing significantly. Irritable bowel syndrome therapy items are in higher demand because older adults are more likely to develop serious gastrointestinal disorders, which drives up the need for these treatments. In addition, other age-related changes, including incapacity to consume meals, insufficient consumption of fluids, and diverticular illness, damage the gastrointestinal tract (GT) system, which drives the demand for treatment of irritable bowel syndrome.

As a result, the growth in the global prevalence rate of chronic diseases is placing a greater burden on healthcare systems worldwide. This is a direct result of the growing number of older people worldwide. As a result, it is anticipated that an increase in the global population of people aged 65 and older will fuel demand for treatments that treat irritable bowel syndrome.

Increase in the Number of Pipeline Drugs

Irritable bowel syndrome (IBS) has a prevalence of 1% to 20% across the globe, and the National Center for Biotechnology Information reports that women are three to four times more likely to be affected by the condition than males. The growing incidence of gastrointestinal conditions has encouraged many pharmaceutical companies to investigate and develop new remedies. Several pharmaceutical companies are currently engaged in the research and development of medications for the treatment of irritable bowel syndrome (IBS), and a variety of IBS therapeutic drugs are currently in the pipeline despite being in varying stages of development. Cilansetron, plecanatide, elobixibat, and tenapanor are potential medications under phase III testing. As a result, several pharmaceuticals in the pipeline, including perfect drugs in the later phases of development, are anticipated to have good potential for expanding the market.

Global Irritable Bowel Syndrome Treatment Market Restraint:

Poor Demand in Underdeveloped Countries

The market expansion for treating irritable bowel syndrome in underdeveloped countries in Asia and Africa is limited by a lack of financial resources, poor incomes, and ignorance about current medical conditions. In addition, the absence of appropriate healthcare services coverage, a low diagnosis rate, and a shortage of practitioners have hindered the expansion of the market for treating irritable bowel syndrome in underdeveloped nations such as Ethiopia, Afghanistan, and Guinea. These countries are amongst the poorest in the world.

Global Irritable Bowel Syndrome Treatment Market Opportunities:

Untapped Opportunities in Developing Economies

The availability of enhanced healthcare infrastructure, unmet healthcare demands, and an increase in the prevalence of cardiovascular diseases all contribute to the fact that emerging economies have a significant capacity for future expansion. Furthermore, developing countries such as China and India present lucrative opportunities for the key players operating in the irritable bowel syndrome treatment market. This is due to a large population base, increased awareness regarding treatments for irritable bowel syndrome, and increased demand for more advanced treatments.

A significant increase in the demand for advanced healthcare services, significant investments by the governments of developing countries to improve healthcare infrastructure, and the development of the medical tourism industry in emerging economies are all contributing factors to the rapid expansion of the healthcare industry in emerging economies. Therefore, the combination of these variables is anticipated to produce lucrative prospects for irritable bowel syndrome treatment market growth during the period covered by the forecast.

Regional Analysis

North America Dominates the Global Market

Based on region, the global irritable bowel syndrome treatment market share is bifurcated into North America, Europe, Asia-Pacific, and LAMEA.

North America is the most significant global market fpr irritable bowel syndrome treatment shareholder and is estimated to exhibit a CAGR of 7.3% over the forecast period. The treatment market for irritable bowel syndrome in North America generated the biggest market share, and it is anticipated to demonstrate continuous expansion shortly. This is primarily attributable to the development of technologically advanced treatment products, an increase in the adoption of irritable bowel syndrome treatment products for the treatment of gastrointestinal disorders, an increase in patient awareness toward irritable bowel syndrome treatment, an increase in the incidence of gastrointestinal diseases, and an increase in the number of older adults in the population.

In addition, the favorable payment policy for irritable bowel syndrome treatment adopted by the Centers for Medicare and Medicaid Services (CMS) was another factor that led to the expansion of the irritable bowel syndrome treatment industry in the United States.

Europe is anticipated to exhibit a CAGR of 8.1% over the forecast period. The market for treating irritable bowel syndrome in European nations is anticipated to expand steadily throughout the forecast period. Increased demand for products to treat irritable bowel syndrome, an increase in the prevalence of gastrointestinal conditions like constipation and diarrhea as a result of changing lifestyles, and the dominance of major market players like Allergan Plc, AstraZeneca plc, GlaxoSmithKline Plc, and Novartis AG all have an impact on the market's expansion in this region. Irritable Bowel Syndrome Treatment Products are Commercially Marketed in the European Union (EU) with the Conformité Européene (CE) Marking following the Current Regulatory Process. Through consistent application and continued monitoring of product performance across the EU, this rule aims to improve patient safety and public health dramatically.

Additionally, the market for treating irritable bowel syndrome in Europe is expanding due to increased consumer awareness of treatments for chronic gastrointestinal illnesses, a large population base, a rise in disposable income, an increase in older adults, and rising demand for newly introduced medicines. Due to several major players and the availability of sophisticated healthcare infrastructure with cutting-edge technology, the market for treating irritable bowel syndrome in Germany, France, and the UK is predicted to rise significantly.

Asia-Pacific's market growth can be attributed to its large patient population, growing awareness of irritable bowel syndrome treatment, and rising demand for the goods it uses. India and China are the most populous nations in the Asia-Pacific region, with a dense population overall. These countries have enormous populations and a high frequency of cardiovascular illnesses. Due to improvements in healthcare infrastructure, an increase in the number of hospitals with cutting-edge medical equipment, the growing R&D industry, an increase in healthcare reforms, and technological developments, Asia-Pacific is anticipated to experience the fastest market growth during the forecast period. Leading manufacturers increasingly concentrate on increasing their geographic reach in developing Asia-Pacific nations to seize market possibilities with high growth rates.

In LAMEA, The market for treating irritable bowel syndrome is still in its infancy because there are not enough hospitals in the region with technologically sophisticated healthcare facilities and enough qualified medical experts. LAMEA is a market that is just starting to emerge, and it is anticipated to give attractive growth prospects to the leading companies. This is because there will be a rise in the number of people who need treatment for irritable bowel syndrome, as well as an increase in awareness of the condition and because healthcare infrastructure will continue to improve. Irritable bowel syndrome treatment has gained popularity in Latin America, the Middle East, and Africa, expanding the market for these products. Moreover, the region has seen more patients suffering from gastrointestinal diseases.

Segmental Analysis

The global irritable bowel syndrome treatment market is bifurcated into product, type, and distribution channels.

Based on the product, the global market for irritable bowel syndrome treatment is bifurcated into rifaximin, eluxadoline, lubiprostone, linaclotide, and others. 

The Rifaximin segment dominates the global market and is projected to exhibit a CAGR of 9.4% over the forecast period. Rifamycin SV is the source of the nonsystemic antibiotic known as rifaximin, which is contained in rifaximin. Intestinal bacterial infection can be treated with this medication, which is an antibiotic. The mechanism of action of rifaximin is distinct from that of other antibiotics because it is not absorbed into the bloodstream after passing through the stomach and the intestines. Rifaximin is effective against infections in the digestive tract; however, it is not effective against infections found in other body regions. In addition, it can treat irritable bowel syndrome with diarrhea, also known as IBS-D, brought on by Escherichia coli in adults and children. In addition, it can minimize the risk of hepatic encephalopathy (HE) recurrence in adults and the likelihood of a loss in brain function in adult patients suffering from liver failure.

Based on type, the global irritable bowel syndrome treatment market is segmented into IBS with Diarrhea (IBS-D), IBS with Constipation (IBS-C), and Mixed IBS. 

The IBS with Diarrhea segment dominates the global market and is predicted to exhibit a CAGR of 9.0% during the forecast period. IBS with diarrhea (IBS-D) is a kind of IBS that also includes bloating or abdominal pain and more frequent feces than usual. Although it can affect persons of any age and gender, young women are more likely to be impacted than men or older adults. Even though the precise origins of IBS-D are unknown, several contributing variables may include fast GI tract muscle contractions, abnormal nerve responses in the colon, and tampered brain-gut signaling. Moreover, IBS-D symptoms could be impacted by changes in the quantity or nature of the normal bacteria in the gut. Dietary changes, psychological counseling, lifestyle changes, and medication are all part of the treatment for IBS-D. Alosetron hydrochloride, rifaximin, eluxadoline, and diphenoxylate/atropine are prescription drugs for IBS-C that have FDA approval.

Additionally, over-the-counter (OTC) medications for treating IBS-C include bismuth subsalicylate, loperamide, and simethicone. The prevalence of IBS-D is increasing, the geriatric population is growing, and prescription medications like Rifaximin and Eluxadoline are becoming more widely used. These are the main factors driving the expansion of the irritable bowel syndrome treatment market. Introducing medicines with specific indications is another element supporting the market's expansion.

Based on the distribution channel, the global irritable bowel syndrome treatment industry is bifurcated into hospital pharmacies, Drug Stores and Retail Pharmacies, and Online pharmacies. 

The Drug Stores and Retail Pharmacies segment owns the highest market share and is predicted to exhibit a CAGR of 7.5% over the forecast period. A drug store, often known as a retail pharmacy, is a specific kind that deals in the distribution and retail sale of a wide range of therapeutic goods. In addition, pharmacies may also sell cosmetics, first-aid supplies, patent medications, over-the-counter drugs, and medications that do not require a prescription from a doctor.

In addition, retail pharmacists provide patients with information regarding general health and conduct consultations with patients regarding the use of over-the-counter pharmaceuticals. The drug stores and retail pharmacies sector is a significant contributor to total revenue, and it is anticipated that this sector will lead the market for the forecast period. It is reasonable to anticipate that this will be the situation given the widespread presence of retail pharmacies worldwide and the ease of access they provide.

Recent Developments

• October 2022- Intrinsic Medicine and Phoenix Biotech Acquisition Corp. announced they had entered into a definitive business combination agreement.
• September 2022- Novome Biotechnologies, Inc., a biotechnology company engineering first-in-class living medicines for chronic diseases, announced the closing of a USD 43.5 million Series B financing.