Irritable Bowel Syndrome Treatment Market is Estimated To Witness High Growth Owing To Increase In Awareness And Acceptance Of Alternative Treatment Therapy

 The Irritable Bowel Syndrome Treatment Market is estimated to be valued at US$ 1,635.40 Mn or Bn in 2023 and is expected to exhibit a CAGR of 13.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. 
 
 Market Overview:
 Irritable bowel syndrome (IBS) is a chronic condition that causes abdominal pain along with other symptoms like bloating, gas, diarrhea and constipation. The treatment of IBS aims to reduce the symptoms by addressing the underlying problems. Some common treatment options include dietary changes, medications and alternative therapies. Treatment approaches are tailored based on the symptoms experienced by patients.
 
 Market key trends: 
 One of the key trends driving the irritable bowel syndrome treatment market is the increase in awareness and acceptance of alternative treatment therapies like acupuncture, meditation and probiotics. Conventional drugs used for IBS like antidepressants and anti-diarrheal medications often cause side effects. As a result, many patients are looking for alternative natural treatment options. Probiotics in particular have gained popularity due to their effectiveness and minimal side effects. Several clinical studies have found certain probiotic strains to be effective at reducing symptoms of IBS like bloating and abdominal pain. This has led to a rise in demand for probiotic supplements for IBS treatment.
 
 Porter’s Analysis
 
 Threat of new entrants: The presence of stringent regulatory protocols and high capital requirements act as barriers for new companies to enter into the irritable bowel syndrome treatment market. 
 
 Bargaining power of buyers: The bargaining power of buyers in the irritable bowel syndrome treatment market is moderate owing to the availability of various treatment options available for IBS symptoms. 
 
 Bargaining power of suppliers: The presence of established drug manufacturers limits the bargaining power of suppliers in the global irritable bowel syndrome treatment market.
 
 Threat of new substitutes: The threat of new substitutes is low due to lack of innovative therapeutic alternatives for IBS treatment.
 
 Competitive rivalry: High competitive rivalry exists among the existing players.
 
 SWOT Analysis 
 
 Strength: Growing prevalence of irritable bowel syndrome and increasing R&D funding for new drugs.
 
 Weakness: Lack of disease-modifying drugs and high costs associated with therapies. 
 
 Opportunity: Emergence of novel therapies and focus on early diagnosis and treatment.
 
 Threats: Safety concerns regarding existing drugs and stagnant healthcare expenditures.
 
 Key Takeaways
 
 The global irritable bowel syndrome treatment market is expected to witness high growth, exhibiting CAGR of 13.% over the forecast period, due to increasing awareness regarding IBS and availability of treatment options. 
 
 Regionally, North America is expected to dominate the global market through 2030. This is attributed to the presence of advanced healthcare infrastructure and growing awareness about IBS treatment in the region. 
 
 Key players operating in the irritable bowel syndrome treatment market are Abbott, Synergy Pharma, Mallinckrodt, Bausch Health Companies Inc., Ardelyx, Astellas Pharma Inc., Novartis AG, GSK plc., Ironwood Pharmaceuticals, Inc., and Takeda Pharmaceutical Company Limited. Established players are focusing on new product launches and partnerships for sustained market position.