Irritable Bowel Syndrome Drugs Market Size

Irritable Bowel Syndrome Drugs Market size was over USD 3.79 Billion in 2023 and is expected to exceed USD 10.61 Billion by the end of 2036, growing at over 8.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of irritable bowel syndrome drugs is evaluated at USD 4.1 Billion. The growth of the market can be attributed to the increasing number of elderly people who are prone to different types of gastrointestinal diseases. Further, the growing prevalence of gastrointestinal diseases amongst other population group, an increase in the consumption of unhealthy foods, and rising stress levels among people across the globe are also expected to add to the market growth. The estimated prevalence of irritable bowel syndrome in the United States is between 11% and 14% and this share is predicted to increase further in the years to come.

In addition to these, factors that are believed to fuel the market growth of irritable bowel syndrome drugs include the rise in over-the-counter drug availability, soaring investments, and collaboration between major key players to discover effective treatments for IBS. For instance, on June 9, 2022, the biopharmaceutical company Ferring B.V. announced a strategic partnership with the innovation-focused global biopharma company I-MAB Biopharma Co., Ltd. to advance the development of olamkicept, a selective interleukin-6 (IL-6) trans-signaling inhibitor for inflammatory bowel disease (IBD) and associated inflammatory conditions. Additionally, the growing number of awareness campaigns on the management of irritable bowel syndrome is predicted to present the potential for market expansion over the projected period.