The Ulcerative Colitis Market Size was evaluated at USD 7.2 billion in 2022 and is expected to rise to USD 10.77 billion by 2032
Market Drivers
The Ulcerative Colitis Market Size was evaluated at USD 7.2 billion in 2022 and is expected to rise from USD 7.5744 billion in 2023 to USD 10.77 billion by 2032, with a compound annual growth rate (CAGR) of 5.1% over the forecast period (2023-2032).
Ulcerative colitis refers to inflammatory bowel disease (IBD), which affects the colon and rectum part of the human body. Ulcers and inflammation are formed in the innermost lining of the rectum and colon, causing the release of mucous and pus in these linings. Rectal bleeding, diarrhea, and abdominal cramps are the most common symptoms seen in people suffering from the disease.
The global ulcerative colitis market has been witnessing massive growth over recent years. The market’s growth is primarily being driven by the growing prevalence of ulcerative colitis disease that affects millions of people globally. Furthermore, the rise in government and non-government organizations towards research in biologics and the massive R&D and investment done by key players to develop novel therapies for UC treatment are some of the factors playing a salient role in the growth of the ulcerative colitis market outlook. However, the market growth is likely to be restricted by the stringent government regulations towards approval of biosimilars and patent expiry of drugs.
Segment Analysis
The global ulcerative colitis market is divided into numerous segments based on disease type, route of administration, molecular type, and region. By route of administration, the global market for ulcerative colitis is divided into injectables and oral.
The global market is bifurcated by disease type into severe ulcerative colitis, moderate ulcerative colitis, and mild ulcerative colitis. Based on molecular type, the global ulcerative colitis market is divided into biologics and small molecules.
Regional Analysis
The global ulcerative colitis market is studied across five major regions: North America, South America, Asia-Pacific, Europe, and the Middle East & Africa.
The North American regional market for ulcerative colitis is projected to hold the top position globally. The growth primarily drives the regional market’s growth due to the prevalence of sophisticated healthcare infrastructure. Furthermore, rapid adoption of new and better healthcare technologies and the growth in research and development proficiencies by the pharmaceutical companies are also expected to catalyze the regional market’s growth over the review timeframe. Additionally, the increasing prevalence of ulcerative colitis across the region is also playing a vital part in the regional market’s growth.
The Asia-Pacific region is expected to project the maximum growth rate over the review timeframe. The growing expenditure is driving the growth of the regional timeframe to develop healthcare infrastructure and the increasing involvement of regulatory bodies for research and development activities.
Competitive Analysis
The global market for ulcerative colitis has an intensely competitive landscape with many players spread worldwide. The players in the market are adopting several new strategies such as mergers, acquisitions, and more to grow their businesses. The list of leading players in the ulcerative colitis market report includes Ferring B.V., Pfizer Inc., UCB S.A., Takeda Pharmaceutical Company Limited, Johnson & Johnson Services, Inc., Bayer AG, Perrigo Company plc, AbbVie Inc., Allergan, Inc., and several others.
Recent Developments
In May 2021- Bristol Myers Squibb got approval from the U.S. FDA for Zeposia (ozanimod) used for the treatment of adults with mildly to severely active ulcerative colitis (UC), a chronic inflammatory bowel disease (IBD).
April 2021- Arena Pharmaceuticals, Inc. started a phase II clinical trial to regulate whether oral etrasimod is a harmless and effective treatment for moderately active ulcerative colitis in adult participants. The trial is anticipated to finish in May 2023.
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