Developments in biosimilars, increasing prevalence rate of Ulcerative Colitis, and changing lifestyle have resulted in boosting the Ulcerative Colitis Drug market.
Developments in biosimilars, increasing prevalence rate of Ulcerative Colitis, and changing lifestyle have resulted in boosting the Ulcerative Colitis Drug market.
The global ulcerative colitis drug market is forecast to reach USD 10.69 Billion by 2028, according to a new report by Reports and Data. Ulcerative colitis (UC) can be defined as an inflammatory bowel disease, which is chronic in nature. Some of the mentionable symptoms associated with the condition is inflammation, irritation, and ulcers in the lining of the colon. The disease does not have a cure, and patients of the condition experience revival of the symptoms. However, with the help of the right treatment, the condition and associated signs & symptoms can be effectively managed. The exact cause for the occurrence of the condition remains unknown. Previously stress and diet was suspected to be the cause for the occurrence of the disease. However, now it is known that stress and diet may aggravate the condition. Heredity and immune system malfunction are considered to be the possible cause for the occurrence of the disease. There are two main goals of UC treatment. The first is to control the symptom & enhance the comfort of patients and increasing the healing of colon. The second aim is to avoid more flare-ups. The focus of the treatment is to minimize & control the signs and symptoms of the disease. There are different types of drugs that may be prescribed by a doctor like Antibiotics, Corticosteroids, and Biologics, among others. In regards to region, Europe can be seen to occupy a prominent market share. The market share held by this region is the result of the high prevalence rate of the condition in this region, along with continuously expanding healthcare sector.
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Further key findings from the report suggest:
- The Ulcerative Colitis Drug market held a market share of USD 6.79 Billion in the year 2018 that is forecasted to grow at a rate of 4.6% during the forecast period.
- In context to Drug Type, the Biologics segment generated the highest revenue of USD 2.78 Billion in 2018, with a CAGR of 4.50% during the forecast period. The effectiveness of Biologics in working in a selective manner, rather than affecting the whole body that results in reducing medication-related side effects and elevated preference among care providers and care users contributes to the revenue generated by this segment.
- In context to Route of Administration, the Oral segment is projected to witness a faster growth rate of 5.4% during the forecast period. The growth rate witnessed by the segment is attributed to the presence of strong pipeline products and continuous developments in various drugs, along with rising awareness about the condition. Increasing awareness about the disease results in early detection of the condition and increasing demand for 5-aminosalicylic acid, which is usually the first step of treatment.
- In context to Distribution Channel, the Hospitals Pharmacy segment held the largest market share of 45.0% in 2018, with a CAGR of 4.7% during the forecast period. The market share occupied by the Hospitals Pharmacy segment is resultant of the rising incidence rate of the condition, increase in the number of in-patient and out-patients, elevation in the number of hospitalization associated with the disease, which results in high demand for medications of the disease from this distribution channel.
- In regards to Application, the Ulcerative proctitis segment generated the highest revenue of USD 3.80 Billion in 2018, with a CAGR of 5.1% during the forecast period. The high incidence rate of the condition results in high demand for UC drug in this segment.
- In regards to the region, Asia Pacific is projected to witness the fastest growth rate of 5.1% during the forecast, which is expected to hold 8% of the market by 2027. The growth rate witnessed by the region is resultant of changing lifestyle that triggers the number of patients affected by this condition along with expansion of the health care sector and rising product approvals, which are supporting the market growth in this region.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
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Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Bausch Health Companies Inc. (Salix Pharmaceutical), AbbVie Inc., Johnson and Johnson, Boehringer Ingelheim GmbH, Novartis AG, Merck & Co., Teva Pharmaceuticals Ltd., Takeda Pharmaceuticals, Shire, Pfizer Inc.
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Ulcerative Colitis Drug Market Segmentation:
Drug Type Outlook (Revenue, USD Billion; 2018-2028)
- Biologics
- Corticosteroids
- Immunomodulators
- 5-aminosalicylic acid
- Immunosuppressant
- Biosimilars
- Others
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
- Oral
- Injectable
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals Pharmacy
- Online Pharmacy
- Retail Pharmacy
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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