A three-pronged approach was followed for deducing the inflammatory bowel disease treatment market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for inflammatory bowel disease treatment market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of inflammatory bowel disease treatment market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The inflammatory bowel disease treatment market was categorized into five segments, namely type (Crohn's Disease, Ulcerative Colitis), drug class (Aminosalicylates, Corticosteroids, TNF inhibitors, IL inhibitors, Anti-integrin, JAK inhibitors), distribution channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), route of administration (Oral, Injectable), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).
The inflammatory bowel disease treatment market was segmented into type, drug class, distribution channel, route of administration, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The inflammatory bowel disease treatment market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-four countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; India; China; Japan; Australia; South Korea; Singapore; Thailand; Brazil; Mexico; Argentina; Saudi Arabia; UAE; South Africa; Kuwait.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The inflammatory bowel disease treatment market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Johnson & Johnson Services, Inc. -Johnson & Johnson Services, Inc. is a manufacturer of medical devices, pharmaceuticals, and consumer healthcare products. The company’s business is divided into three segments: Consumer health, medical devices, and pharmaceuticals. The consumer health segment provides an array of products, such as oral healthcare, baby, skin & beauty, wound, and eye care products. The medical devices segment offers products for cancer surgeries, neurological disorders, cardiovascular diseases, bariatric & metabolic surgeries, hernia repairs, wound closures, gynecology, and diabetes care. Janssen Pharmaceuticals, Inc. is a subsidiary of Johnson & Johnson Services, Inc., which is involved in the production of pharmaceuticals and consumer products. The pharmaceuticals division consists of a number of drugs for neurological conditions, pain management, cancers, and autoimmune diseases.
Pfizer, Inc. - Pfizer, Inc. is multinational American pharmaceutical company. The company is into discovery, development and manufacture of pharmaceutical products. It provides medical devices, vaccines, and consumer healthcare products. It offers products in cardiovascular, oncology, inflammation, immunology, rare diseases, and internal medicine. It operates through two business segments: Essential Health (EH) and Innovative Health (IH). The Essential Health segment comprises branded generics, biosimilars, infusion systems, generic sterile injectable products, and legacy brands. The Innovative Health segment focuses on commercialization and development of medicines & vaccines. The company has 42 manufacturing facilities & operates in over 125 countries, employing approximately 78,500 people worldwide.
Takeda Pharmaceutical Company Limited - Takeda Pharmaceutical Company Limited is a global research-based pharmaceutical company. The company has five core business areas: Rare diseases, oncology, GI, PDT, and neuroscience. The majority of its revenue is generated from 14 global brands, including Entyvio and Natpara. Its IBD treatment product, Entyvio, is approved in over 70 countries. Takeda’s drugs are marketed in around 100 countries worldwide. The company has presence in over 80 nations across Europe, the U.S., Japan, Africa, Asia Pacific, and the Middle East. The company employs around 47,000 people, globally
AbbVie, Inc. - AbbVie, Inc. is a biopharmaceutical company that focuses on various therapeutic areas, such as immunology, oncology, virology, neuroscience, and general medicine. Formerly, the company was in collaboration with Abbott. It provides various products for ulcerative colitis, immune-mediated diseases, rheumatoid arthritis, Crohn’s disease, uveitis, and others. In addition, it has formed various ventures with ALECTOR, AM-Pharma, APOGEN, artios, carisma Therapeutics, LODO Therapeutics, and PALLEON Pharmaceuticals, focused on early-stage opportunities in oncology, immunology, & neuroscience. The company has over 47,000 employees in over 70 nations. Its products cater to patients across 175 nations. AbbVie owns eight primary research and 14 manufacturing facilities across the world
Cosmo Pharmaceuticals - Cosmo Pharmaceuticals is a specialty pharmaceutical company that develops, manufactures, and distributes pharmaceutical products across the globe. It is mainly involved in the development of treatments for gastrointestinal diseases. The company has pipeline products for IBD, colon infections, and colon cancer diagnosis. It focuses on endoscopic and oral treatment of colonic diseases. In addition, it has strategic collaborations with various other pharmaceutical companies for distribution purposes. The company develops a range of pharmaceutical products based on its Multi Matrix MMX technology. It primarily outsources clinical trials; has four products currently in various development phases. The company has strong presence in the U.S. & Europe and employs more than 300 people worldwide.
Merck & Co., Inc. - Merck provides health solutions through vaccines, biological therapies, prescription medicines, and health products. It is a healthcare solutions provider in four segments: Pharmaceuticals, healthcare services, animal health, and alliances. The company's pharmaceutical division includes vaccines and human health pharmaceuticals. The company operates in more than 140 countries with offices in 51 countries. Furthermore, the company provides therapeutics for cancer, infectious diseases, and cardio-metabolic disorders.
UCB S.A. - UCB S.A. is a global biopharmaceutical company focusing on immunology and neurology. It leverages scientific advancements & skills in areas such as genetic, biomarkers, and human biology. It offers drugs for treatment of epilepsy, Parkinson’s disease, rheumatoid arthritis, osteoporosis, Crohn’s disease, lupus, and psoriasis. It has presence in more than 70 countries and has employed 8,600 people across the globe.
Biogen - Biogen is a U.S. multinational company that is engaged in discovering, developing, manufacturing, and distributing novel therapies for treatment of neurodegenerative diseases, autoimmune disorders, and hemophilia. Biogen has a portfolio of medicines for multiple sclerosis. It also commercializes biologics & biosimilars of advanced biologics and is focused on advancing research programs in multiple sclerosis & other neurological/autoimmune disorders. The company has manufacturing facilities in the U.S. and offices in Canada, Australia, Japan, and across Europe. It directly markets products in more than 29 countries and has distribution partners in more than 70 additional countries, including Eastern Europe, Brazil, China, and India.
Celltrion Healthcare Co., Ltd. - Celltrion Healthcare Co., Ltd. is a South Korean biopharmaceutical company that develops biosimilars in the country and exports them globally. The company has various partners, including Hospira, Perrigo, iQONE, iHL, BIOMM, SAVAL, AURIGA, and ORION Pharma. It has a distribution network in more than 110 countries for biological therapeutics. The company focuses on treatments of cancers, autoimmune diseases, and other chronic diseases. Moreover, the company has the production capacity of 190,000 L with sales permit in more than 190 countries. The company is headquartered in Incheon, South Korea and has 2,145 employees across the globe.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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