Ulcerative Colitis Market Overview
The ulcerative colitis market is expected to procure a significant CAGR between 2020 and 2027 (projection period). Ulcerative Colitis/UC is a debilitating disorder, affecting the large intestine or the colon. The cause is unknown but it is believed that the disease is an amplified immune response to a microbial trigger. The disease involves colon inflammation, with key symptoms including diarrhea, abdominal pain, and blood in the stool. Pfizer Inc. reveals that ulcerative colitis affects almost one million people across the United States every year. Some of the top treatment options include conventional therapies like drugs that contain tumor necrosis factor (TNF) inhibitors as well as small molecule.
Lately, the preference for minimally invasive surgeries has gone up, which will be a major trend in the worldwide ulcerative colitis market. The factors fostering the preference for minimally invasive surgeries include economic viability, better patient satisfaction, reduced hospital stay, and lower postsurgical complications. Having said that, the significant number of unreported and undiagnosed cases are the result of the lack of awareness about ulcerative colitis. Low knowledge level about the condition, and the drawbacks associated with the current therapeutic options could obstruct the ulcerative colitis market’s growth in subsequent years.
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Emerging popularity of biosimilars remains one of the top growth boosters for the ulcerative colitis industry. Biosimilars cost much less compared to biologics, raising their accessibility in developing economies. With of a few drugs’ patents about to expire, experts project launch of several new biosimilars. Additionally, the rising efforts by renowned companies with focus on product innovations should translate to substantial ulcerative colitis market growth. Surge in FDA approvals and from other authoritative agencies for new drugs could also foster the overall market share. To illustrate, in February 2022, Atlantic Healthcare was granted the US patent approval for its latest formulation of alicaforsen. Alicaforsen is a novel antisense drug that helps treat ulcerative colitis (UC) as well as Crohn’s disease.
Ulcerative Colitis Market Segmentation
Ulcerative colitis industry has been considered for procedures as well as medication.
With respect to procedure, the ulcerative colitis market caters to proctosigmoiditis, ulcerative proctitis, pancolitis or universal colitis, fulminant colitis, and left-sided colitis.
Depending on medication, the worldwide ulcerative colitis market can be dissected into steroids, 5-aminosalicylates, immunomodulators, biologics, and purine analogs.
Ulcerative Colitis Market Regional Study
North America, MEA or Middle East and Africa, Europe as well as APAC or Asia Pacific are the key ulcerative colitis market.
North America will maintain its winning streak in the worldwide market throughout the analysis period, considering the region’s strong financial status and significantly developed healthcare system. Research institutes’ focus on technically upgradations to develop highly advanced treatment and diagnosis techniques, presence of well-equipped hospitals and the large number of skilled medical professional present in the region also add to the market’s strength. The US ulcerative colitis market is extremely competitive. Many of the major firms in the country follow take a few strategic initiatives, including new product launch, merger, partnerships, and acquisition, which helps them maintain their relevance in the regional market.
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Asia Pacific should procure the fastest CAGR in the ensuing years, as a result of the presence of fast emerging economies like India and China that have thriving healthcare industries. Also, the accelerated cases of inflammatory bowel disease will foster the ulcerative colitis market demand during the review period. Other encouraging factors can be the advancing healthcare infrastructure combined with the rising demand for modern diagnostic therapies.
Ulcerative Colitis Market Reputed Firms
UCB S.A., AbbVie Inc., Takeda Pharmaceutical Company Limited, Pfizer Inc., Johnson & Johnson Services, Inc., Perrigo Company plc, Allergan, Inc., Ferring B.V., Bayer AG are the major ulcerative colitis products and solutions developers in the global industry.
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