Irritable Bowel Syndrome Drugs Market Trends

Growth Drivers

• Growing Prevalence of Diarrhea in Children – On account of the increasing prevalence of gastrointestinal disorders in children, including diarrhea, constipation, and bowel incontinence, the market is expected to expand more in the upcoming years. Diarrhea is listed as the second most typical cause of death in children under the age of five by the World Health Organization. Each year, diarrhea kills about 500 000 children under the age of five. Around 2 billion children worldwide have diarrheal sickness every year.
• Rising Geriatric Population – Elderly population is more prone to bowel incontinence and the rising number of elderly populations across the globe is estimated to drive market growth. The percentage of individuals over 60 in the world will nearly double from 12 to 22% between 2015 and 2050. In 2020, there were more people over the age of 60 than children under five and by 2050, it is predicted that 80% of the world's old people will live in low- and middle-income countries.
• Increasing Health Spending – According to the most recent expenditure data, global health spending has grown over the past 20 years, doubling in real terms to reach USD 8.5 trillion in 2019 and 9.8% of GDP, up from 8.5 percent in 2000. It is predicted that this boom would continue over the forecast period.
• Growing Incidences of Spinal Cord Injuries – It is expected that patients with chronic illnesses and disabilities, including spinal cord injuries, experience bowel incontinence more severely, which is anticipated to drive the market growth. It was discovered that between 300,000 and 500,000 people worldwide experience spinal cord injuries every year.
• Rising Cases of Hemorrhoids – Hemorrhoids can also be referred to as piles. Inflamed veins in the lower rectum and anus are hemorrhoids. Bowel incontinence can result from this swelling, thereby raising the need for hemorrhoids drugs, which is anticipated to drive the market growth. At least 50% of Americans over the age of 50 who have hemorrhoids experience obvious symptoms.

Challenges

• Side effects of IBS drugs - The increasing concern amongst individuals for the side effects associated with the consumption of IBS drugs is one of the major factors predicted to slow down the market growth. For instance, pancreatitis, a serious and more common pancreatic inflammation, can arise from the dual mu-opioid nicotinic receptor eluxadoline, which is employed to address digestive problems with incontinence in some people.
• Low awareness among people in low and middle-income countries for these drugs
• Lack of medical reimbursement policies for treatment of IBS