Asia Pacific Irritable Bowel Syndrome Treatment Market Forecast 2021-2028
The Asia Pacific irritable bowel syndrome treatment market is predicted to project a CAGR of 8.92% during the forecast period, 2021-2028. The primary factors contributing to the market growth include the increasing focus of eminent manufacturers on geographical expansion and the developing R&D sector.
India, Japan, China, Vietnam, Australia & New Zealand, Indonesia, Thailand, South Korea, and Rest of Asia Pacific are analyzed for the Asia Pacific irritable bowel syndrome treatment market growth evaluation. According to a 2019 study, in Japan, the prevalence of functional constipation (FC) and irritable bowel syndrome (IBS-C) was 8.76% and 4.97%, respectively. IBS-C resulted in more symptoms than FC, leading to impairment of quality of life. The increasing life expectancy in the country is set to result in an increased geriatric population. According to the Statistics Bureau, Ministry of Internal Affairs and Communications, the aged population in 2019 constituted around 28% of the total population. Such factors are expected to increase market growth.
In Australia, one in five people has experienced the symptoms of IBS at some point in time. These are mucus in stools, alternating diarrhea, constipation, and abdominal pain. There is an increasingly aging population in the country. As per the Australian Institute of Health and Welfare, the aging population graph is expected to grow further. In New Zealand, IBS is a relatively common condition. At the same time, it is difficult to gauge the numbers due to the low turn up of people for diagnosis. The geriatric population of the country constitutes 15% of the total population as per the Statistics New Zealand. Such factors are evaluated to drive market growth in Australia & New Zealand.
Some of the key players in the market include, Novartis AG, Lannett Company Inc, Takeda, Pharmaceutical Company Ltd, Synthetic Biologics Inc, Sebela Pharmaceuticals Inc, etc.
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