Ulcerative Colitis Market Size Worth $10.8 Billion, Globally...| MENAFN.COM

Friday, 09 December 2022 07:47 GMT

Ulcerative Colitis Market Size Worth $10.8 Billion, Globally, By 2030 At 5.7% CAGR

(MENAFN- EIN Presswire)

Ulcerative colitis market report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics.

PORTLAND, OREGON, UNITED STATES, September 20, 2022 /EINPresswire.com / -- Ulcerative colitis market was valued at $6.2 billion in 2020, and is estimated to reach $10.8 billion by 2030, growing at a CAGR of 5.7% from 2021 to 2030. Ulcerative colitis is an inflammatory bowel disease that affects the colon and rectum of the human body. The disease affects people of any age and most commonly it begins during adolescence and early adulthood, but it may also occur later in life. Ulcerative colitis is highly prevalent in the U.S., England, and northern Europe. The most commonly preferred treatment options for ulcerative colitis are traditional medications made of biologics and small molecules.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ

Factor that drives the ulcerative colitis market growth include increase in number of inflammatory bowel disease. In addition, rise in number of ulcerative colitis incidences propels growth of the market. However, rise in burden of inflammatory bowel disease increases growth of the market. Furthermore, the Food and Drug Administration (FDA) aims to enhance availability of reliable and effective drugs to meet public health needs and increase access to treat consumers.

Moreover, rise in development of pharmaceutical and medical device industries and improvement in healthcare spending are anticipated to drive growth of the ulcerative colitis market. In addition, increase in development of new product launches led to rise in the healthcare sector, thereby propelling growth of the market.

Moreover, governments initiatives for development of new drugs and healthcare sector for manufacturing of ulcerative colitis drugs are the key factors that boost growth of the market.

For instance, in May 2018, Takeda Pharmaceutical Company Ltd. and Shire Plc. announced that Takeda had reached an agreement on the terms of proposed offer to acquire all of outstanding shares and future common shares of Shire Plc. In addition, in June 2019, Abbvie completed the acquisition of Allergan to expand its product portfolio to offer extensively advanced treatments for patients. Allergan launched a monoclonal antibody called brazikumab, which is used in the treatment of ulcerative colitis. Thus, increase in development of new drugs drives the substantial growth of the ulcerative colitis market size during forecast period.

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By molecule type, the market is divided into small molecules and biologics. The small molecule segment acquired top position in the ulcerative colitis industry in 2020, and this trend is expected to continue during the forecast period, owing to large number of drugs offered by key players and increase in use of drugs for the treatment of inflammatory gastrointestinal disorder. By route of administration, the market is fragmented into oral and injectables.

Region wise, North America accounted for a majority of the global ulcerative colitis market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of inflammatory bowel disease, increase in number of approvals for ulcerative colitis drugs, presence of key players, and advancement in the development of drugs in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in deficiency of vitamin D in the countries, rise in number of geriatric populations, growth in health care expenditures, and rise in adoption of effective drugs.

๐Š๐„๐˜ ๐…๐ˆ๐๐ƒ๐ˆ๐๐†๐’ ๐Ž๐… ๐“๐‡๐„ ๐’๐“๐”๐ƒ๐˜

โ€ขBy disease type, the mild UC segment was the highest contributor to the market in 2020.
โ€ขOn the basis of molecule type, the small molecule segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
โ€ขOn the basis of route of administration, the oral segment dominated the market in 2020, and is expected to continue this trend during the forecast period
โ€ขRegion wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

๐Ž๐ญ๐ก๐ž๐ซ ๐“๐ซ๐ž๐ง๐๐ข๐ง๐  ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ:

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