Global Short Bowel Syndrome Market: Rising Initiatives and Awareness Drives Shed Light on Treatment with Effective Drugs, notes TMR
Albany, NY -- (SBWIRE) -- 03/08/2018 -- The competitive landscape of the global short bowel syndrome market is quite consolidated with Shire Plc. holding about 50% share in the overall market in 2015. Transparency Market Research states that strategic acquisitions have strengthened the company's foothold in the market over the past few years. In the coming years, Shire is expected to focus on delivering innovating therapies with a special focus on gastrointestinal diseases. "Other players will steer emphasis on manufacturing and marketing over-the-counter dietary supplements to garner significant consumer base," states the lead author of this research report.
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GLP-2 Drug Shows Steady Growth during Forecast Period due to Popularity
According to the research report, the global short bowel syndrome (SBS) market is expected to be worth US$2.6 bn by the end of 2024 as compared to be US$312.7 mn in 2016. Between the years of 2016 and 2024, the global market is expected to rise at a CAGR of 30.4%.
On the basis of drug class, the global market is segmented into GLP-2, glutamine, and growth hormone. Of these, the GLP-2 drug is estimated to rise at a CAGR of 36.0% between 2016 and 2024. Sold under the brand name of Gattex in the U.S. and Revestive in Europe, the GLP-2 drug is expected to make a significant contribution to the rising revenue of the global market due to its exclusivity. On the basis of geography, North America is anticipated to lead the global market as it progresses at a CAGR of 32.7% between 2016 and 2024.
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High Cost of Parenteral Nutrition Steers Attention toward SBS Drugs
The high cost of parenteral nutrition, which is administered to the patient to allow the intestine to adapt to the changes and to maintain hemostasis, is anticipated drive the global market. The unaffordability of parenteral nutrition has significantly spiked the demand for short bowel syndrome drugs as they also help in reducing patient's dependence on parenteral nutrition, as has been observed in the clinical trials. The overall market is also being driven by the growing number of favorable reimbursements offered by the governments across North America. Additionally, assistance offered to patients on Gattex by Shire PLc is also estimated to work in favor of the market's growth.
Due to the rarity of this disease, the rate of diagnosis has been relatively low for short bowel syndrome. Furthermore, the approved drugs for SBS are not easily available across the globe, which has resulted in a significant pool of unmet clinical needs. In light of these reasons, the global market is expected to find several lucrative opportunities in the coming years. The growing investments and focus of several associations and foundations in raising awareness about short bowel syndrome has played a crucial role in defining the positive trajectory of the global market. Currently, The National Organization for Rare Disorders and its member organizations, such as the Association of Gastrointestinal Motility Disorders, Inc., the Oley Foundation, the SBS Cure Project, and the Short Bowel Syndrome Foundation, Inc. are raising awareness about the diseases amongst people. Drug manufacturers are also initiating awareness programs to offer assistance to patients and earn high revenues.
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Adverse Side Effects of SBS Drugs to Restrain Market Growth
The key drawback for the global short bowel syndrome market is the side-effect of taking short bowel syndrome drugs. The drugs approved for treating SBS are associated with a wide range of side effects that can lead to several health complications. For instance, the commonly seen effects of Revestive or Gattex are nausea, abdominal pain, cold, flu, and headache among others. These medicines can also lead to complications pertaining to blockage of the bowel, polyps in the colon, abnormal cell growth resulting in cancer, and inflammation or blockage of gallbladder or pancreas. The market is also likely to be affected by the high mortality rate associated with SBS and non-availability of approved drugs, especially in the developing economies.
About Transparency Market Research
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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