New York, USA, May 08, 2023 (GLOBE NEWSWIRE) -- Ulcerative Colitis Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR),”Ulcerative Colitis Market Information By Type, By Medication, And By Region – Market Forecast Till 2030”, the market is projected to grow from USD 7.57 Billion in 2023 to USD 10.26 billion by 2030, exhibiting a CAGR of 5.20% during the forecast period (2023 - 2030).
Market Scope:
The most prevalent type of inflammatory bowel illness that affects many people is ulcerative colitis. In the digestive tract, it produces inflammation and ulcers. The rectum and large intestine's innermost lining are both impacted by ulcerative colitis. Although ulcerative colitis can occur at any age, it most frequently affects adults between the ages of 15 and 30. Individuals with ulcerative colitis may have diarrhea, passing blood with their stools, or an immunological reaction in their abdomen.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 10.26 Billion |
| CAGR | 5.20% |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type and Medication |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The rise in the incidence of inflammatory gastrointestinal illness |
| Rising prevalence of inflammatory bowel disease. |
Ulcerative Colitis Market Competitive Outlooks:
Major market companies are investing heavily in R&D to expand their product portfolios, which will spur further expansion of the ulcerative colitis industry. With significant industry changes including the introduction of new products, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations, market participants are also undertaking a variety of strategic activities to expand their global presence. In order to grow and remain in a market that is becoming more and more competitive, Ulcerative Colitis competitors must provide affordable products.
One of the main business tactics manufacturers use in the Ulcerative Colitis industry to assist customers and grow the market sector is to manufacture locally to cut operational costs. Some of the most important advancements in medicine have recently come from the ulcerative colitis sector.
Key Companies in the Ulcerative Colitis market include
- Salix Pharmaceuticals
- Abbott Laboratories
- Mitsubishi Tanabe Pharma Corporation
- Celgene Corporation
- InDex Pharmaceuticals Holding AB
- BioLineRx Ltd
- Sanofi Aventis A/S
- Merck & Co
- Eli Lilly
- Johnson & Johnson
Ulcerative Colitis Market Trends:
Market Drivers
The prevalence of inflammatory gastrointestinal disease is increasing, there are more cases of ulcerative colitis, and several significant businesses are developing drugs to treat ulcerative colitis, all of which are fueling the market's expansion. As inflammatory bowel illness becomes more common, it is projected that demand for ulcerative colitis will increase. The launch of biosimilars is encouraging market growth. In comparison to large pharmacies, biosimilars are projected to be more accessible and cheaper in poor countries. The projected patent expiration of several pharmaceuticals is one of the factors behind the launch of new biosimilars. Due to major companies' increased interest in developing domain-related goods, this market is predicted to expand.
The causes behind the expansion include the development of innovative medicines with a better clinical profile and patient-friendly RoA, as well as the growing acceptance of targeted and advanced therapies. The primary drivers driving the growth of the ulcerative colitis market are an increase in the prevalence of inflammatory gastrointestinal illnesses, an increase in ulcerative colitis cases, and the development of drugs for the condition by multiple significant firms.
Market Limitations
But during the course of the projection period, issues such the high levels of unmet clinical need in ulcerative colitis (UC) and drug side effects are anticipated to limit market expansion.
Browse In-depth Market Research Report (85 Pages) on Ulcerative Colitis: https://www.marketresearchfuture.com/reports/ulcerative-colitis-market-2354
COVID-19 Analysis:
According to reports, the COVID-19 pandemic had a negative effect on the market for ulcerative colitis because COVID-19 patients were compelled to cancel or postpone elective surgery, including procedures for inflammatory bowel disease (IBD), despite the fact that these patients had a higher risk of needing urgent surgery. Therefore, the manufacture of pharmaceuticals to treat ulcerative colitis illness has decreased due to the delay in ulcerative colitis treatment processes, which has constrained market growth.
Ulcerative Colitis Market Segmentation:
Type Insights
The category that contributed the most to the market revenue for ulcerative colitis in 2022 was ulcerative proctitis.
Medications Insights
The Steroids category led the market in 2022 and is anticipated to expand at the fastest rate from 2022 to 2030. When taken in levels larger than what your body normally generates, steroids reduce inflammation by reducing redness and swelling. This may be advantageous for inflammatory illnesses including asthma and eczema.
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Ulcerative Colitis Market Regional Analysis:
The market for ulcerative colitis in North America reached USD 3.2976 billion in 2022 and is anticipated to increase at a substantial CAGR throughout the research period. North America's healthcare sector is rapidly growing. The region has made a name for itself as a center of technical progress and innovation. Through the projection period, the Asia Pacific area is expected to increase significantly at a CAGR of 6.5 percent. Market expansion is fueled by increased consumer health consciousness and rising healthcare costs in this area. Due to the presence of major companies, the rising incidence of ulcerative colitis in the area, and the ongoing financing for the discovery of novel medicines for the treatment of the ailment, North America is predicted to dominate the market for ulcerative colitis.
The second-largest market share belongs to the ulcerative colitis market in Europe. In May 2021, Bristol Myers Squibb further gained approval from the government. Zeposia is a long-term inflammatory bowel medication approved by the Food and Drug Administration to treat individuals with moderately to highly active ulcerative colitis. As new medications were created, the market opportunity for ulcerative colitis grew as a result. Additionally, the UK's ulcerative colitis market grew at the quickest rate in the European area, while Germany's ulcerative colitis market had the biggest market share.
From 2022 to 2030, the Ulcerative Colitis Market in Asia-Pacific is anticipated to see the highest CAGR growth. The fast expansion of the medical tourism business, rising healthcare expenses, and rising prevalence of osteoarthritis and degenerative disc disease are all contributing factors in this. The Ulcerative Colitis market in India grew at the quickest rate in the world, while the Ulcerative Colitis market in China had the greatest market share.
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