Irritable Bowel Syndrome (IBS) Diagnostics Market Worth US$ 3,117.79 Million by 2028 at a CAGR of 4.7% Globally, COVID-19 Impact and Analysis by The Insight Partners
NEW YORK, Sept. 17, 2021 /PRNewswire/ -- According to new research study on "Irritable Bowel Syndrome (IBS) Diagnostics Market to 2027 – Global Analysis and Forecast – by Diagnosis and Indication," the market is expected to reach US$ 3,880.91 million in 2028 from US$ 2,470.61 million in 2020. The market is estimated to grow at a CAGR of 5.9% from 2021 to 2028. The growth of the market can be attributed to factors such as increasing prevalence of irritable bowel syndrome and associated conditions and rising number of FDA approvals and diagnostics developments. On the other hand, challenges in the diagnosis of IBS such as lack of specific treatment that treat all the symptoms are likely to restrain the growth of the market during the forecast period.
In 2021, North America dominated the global irritable bowel syndrome (IBS) diagnostics market. The growth of the market is driven by factors such as a rise in the adoption of irritable bowel syndrome (IBS) diagnostics in the US, an increase in public health awareness, a rise in strategic activities by the government, and the presence of leading players.
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Asia Pacific is expected to be the fastest-growing region. The market in Asia Pacific is expected to grow at a faster pace, owing to the growing prevalence of gastrointestinal disorders in countries such as Australia and India. Furthermore, increasing product approvals are expected to provide a lucrative market growth scenario in the region. Additionally, developing healthcare infrastructure and increasing investments to boost the research activities are projected to drive the Asia Pacific irritable bowel syndrome (IBS) diagnostics market during the forecast period.
Based on diagnosis, the irritable bowel syndrome (IBS) diagnostics market was segmented into laboratory tests and imaging tests. In 2021, the laboratory tests segment held the largest share of the market, and the same segment is expected to grow at the fastest rate during the coming years. There are no definitive diagnostic tests for the detection of irritable bowel syndrome (IBS). Laboratory tests help to primarily exclude alternative diagnostics. Patients suffering from IBS are exposed to tests that involve complete blood count. This helps to confirm the main symptoms of the disease. The laboratory tests check the sample of blood, body tissues, or urine to see if the results of the patients fall in the normal range. The laboratory tests segment is further subsegmented into lactose intolerance tests, breath tests for bacterial overgrowth, stool tests, and blood tests.
Development of Medical Devices for Diagnosis of Irritable Bowel Syndrome Fuels Irritable Bowel Syndrome (IBS) Diagnostics Market Growth
Companies are focusing on introducing innovative medical devices to diagnose irritable bowel syndrome. These devices are likely to offer superior diagnosis and earlier detection of the disease. The industry players are engaged in the utilization of chemiluminescent technology to diagnose irritable bowel syndrome. For instance, in October 2018, Inova Diagnostics launched the first FDA-cleared calprotectin extraction device with QUANTA Flash chemiluminescent (CIA) technology that delivers confident results. Semi-quantitative assays offer precise quantification, broad analytical measuring ranges, and rapid turn-around time.
The Commonwealth Diagnostics International (CDI), Inc. has developed a Validated At-Home Collection Kit for IBSchek to diagnose irritable bowel syndrome. The device is the first clinically validated biomarker blood test for diarrhea-predominant and mixed-type irritable bowel syndrome (IBS-D, IBS-M) in a new at-home capillary collection kit.
Such devices hold the potential to offer excellent diagnosis and operating efficiency over the conventional methods. Moreover, the adoption of such devices drastically reduces the risk of side effects. Thus, the increase in research activities, coupled with product innovations, is expected to reshape the irritable bowel syndrome (IBS) diagnostics market in years to come.
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Irritable Bowel Syndrome (IBS) Diagnostics Market: Segmental Overview
In terms of indication, the pain and cramping segment held the largest share of the market in 2020, and the same segment is anticipated to register the highest CAGR of 6.5% in the market during the forecast period. IBS is characterized by abdominal pain and cramping. IBS patients can experience stomach cramps or the sensation that their bowel movement is incomplete. Many people who have IBS, experience gassiness and find bloating in their abdomen. After consuming certain foods, the person can experience cramping pain. Abdominal pain and cramping refer to discomfort felt in the region of the trunk between the ribs and the pelvis.
The COVID-19 pandemic outbreak in late 2019 disturbed various trades and businesses across the world. The approach of the COVID-19 pandemic is expected to open new opportunities for the current IBS diagnostics market landscape players. With the spread of the COVID-19 pandemic, it was discovered that a significant number of people around the world were suffering from irritable bowel syndrome (IBS) such as abdominal pain, cramps, or bloating, diarrhea or constipation, and mucus in the stool as COVID-19 pandemic has affected the psychological health of people, resulting in a higher level of stress. Stress can exaggerate the symptoms of irritable bowel syndrome (IBS). Thus, the impact of COVID-19 is so far considered positive on the market.
Irritable Bowel Syndrome (IBS) Diagnostics Market: Competition Landscape and Key Developments
Commonwealth Diagnostics International; Genova Diagnostics; Gemelli Biotech; Prometheus Laboratories; Inova Diagnostics, Inc.; Biohit Oyj; Aerodiagnostics, LLC.; Metabolic Solutions, Inc.; Sysmex Corporation; and BÜHLMANN Laboratories AG are among the key companies operating in the global irritable bowel syndrome (IBS) diagnostics market. Leading players are focusing on the expansion and diversification of their market presence and acquisition of a new customer base, thereby tapping prevailing business opportunities.
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In November 2020, Cellesce Ltd. entered into a partnership with Manchester BIOGEL to develop fully synthetic animal-free three-dimensional (3D) scaffolds that mimic the physiological environment in the human body and enable manufacture, scale-up, and enhanced reproducibility of patient-derived irritable bowel syndrome (IBS) diagnostics.
In June 2019, BÜHLMANN Laboratories AG received US Food and Drug Administration (FDA) 510(k) clearance for its BÜHLMANN fCAL turbo. The BÜHLMANN fCAL turbo is an in vitro diagnostic assay intended for the quantitative measurement of fecal calprotectin (fCAL), a neutrophilic protein that is a marker of intestinal mucosal inflammation, in human stool. The BÜHLMANN fCAL turbo aids in the diagnosis of inflammatory bowel disease (IBD)—specifically Crohn's disease (CD) and ulcerative colitis (UC)—and helps in the differentiation of IBD from irritable bowel syndrome (IBS) in conjunction with other laboratory and clinical findings.
In October 2019, Gemelli Biotech—producer of the ibs-smart blood test for irritable bowel syndrome with a diarrheal component (IBS-D and IBS-M)—announced the formalization of a Scientific Advisory Board to support the company's expansion into new markets and new offerings.
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