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The irritable bowel syndrome (IBS) market has been forecast to rise at a compound annual growth rate (CAGR) of 13.7% over the next six years, rising from a valuation of $722 million in 2011, to be worth a market value of $1.8 billion in 2018.
IBS involves daytime abdominal pain, bloating and discomfort and altered bowel habits (that is, constipation (IBS-c), diarrhoea (IBS-d) or both) without progressive deterioration or detectable structural, mechanical, biochemical or overt inflammatory abnormalities.
It affects 12% of adults in the US, and has an incidence among women twice as high as men. Although not life threatening, IBS can seriously impair overall quality of life, and as a result it is one of the most common reasons for visits to primary care physicians and gastroenterologists in the US. Its pathogenesis remains unclear, although much progress has been made in recent years on this issue.
The market for IBS is being driven by increased stress, unhealthy eating habits, the growth of the global elderly population and an increased level of awareness among the general population, which has spurred on the rise of incidence and diagnosis over the recent past.
This high growth rate is attributed to the strong pipeline dominated by First-In-Class (FIC) molecules such as recently launched Linzess (linaclotide). Others include Plecanatide, Xifaxan (rifaximin), Asimadoline and Naloxegol (PEG-naloxol), most of which have demonstrated high safety and efficacy profiles in clinical trials.
The high prevalence and anticipated launch of new drugs in the developed markets during and post 2012 is expected to drive the growth of the IBS market in the coming years. Lotronex (2000) and Amitiza (2008) are the only drugs presently approved for the treatment of Diarrhea Predominant IBS (IBS-D) and Constipation Predominant IBS (IBS-C), respectively.
There is a significant level of unmet need associated with current treatment options for IBS and constipation, and if these new therapies can address them, they will be able to command a price premium, thus driving the market.
In summary, the IBS market is expected to be a relatively open market for new entrants until 2018, with opportunities for value capture. Therefore, it can be concluded that the high unmet need is generally due to the lack of availability of effective treatment options, difficulties in diagnosis and the moderate safety and efficacy profiles of the marketed drugs.
For more information on the IBS market, see the latest research: IBS Market
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