Ulcerative Colitis Drug Market Competitive Landscape, Growth, Statistics, Revenue and Industry Analysis Report by 2030
global ulcerative colitis medicine market is being fueled by a rise in the prevalence of ulcerative colitis and inflammatory bowel disease
NEW YORK, NEW YORK, UNITED STATES, December 16, 2022 /EINPresswire.com/ --
The global ulcerative colitis medicine market is being fueled by a rise in the prevalence of ulcerative colitis and inflammatory bowel disease (IBD) throughout the world. Crohn's disease and ulcerative colitis are the most common inflammatory gastrointestinal illnesses in IBD.
The global ulcerative colitis drug market size was USD 7.80 Billion in 2021 and is expected to register a revenue CAGR of 5.1% over the forecast period, according to the latest report by Reports and Data.
Some of the important drivers driving the global ulcerative colitis drug market revenue growth include the growing incidence of ulcerative colitis and other Inflammatory Bowel Diseases (IBD), the development of biosimilars, and the rising demand for IBD treatment in emerging nations. The focus on diagnosis and therapy to minimise and manage signs and symptoms of ulcerative colitis is increasing demand for ulcerative colitis medications. There is currently no permanent cure for ulcerative colitis, and the exact cause of its occurrence is unknown, but there are several types of drugs that are effective in treating the symptoms. The type of medication or remedy prescribed to a patient is heavily influenced by the cause and severity of the disease.
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Market Dynamics:
The pharma and healthcare sector has significantly advanced in the recent years and is expected to register steady revenue growth over the forecast period owing to rapid innovations in medical technology, increasing investments, rising healthcare expenditure and high adoption of advanced products and systems. Factors such as rising prevalence of chronic diseases such as diabetes, cancer, cardiovascular diseases, and neurological disorders across the globe, rising cases of coronavirus, improving healthcare infrastructure and research facilities, and increasing adoption of remote patient monitoring services and home care settings are expected to fuel global market revenue growth over the forecast period. In addition, increasing number of hospitals and ambulatory care centers worldwide, high demand for personalized medicine, increasing investments in medicines discovery and growing investments by public and private sectors are expected to drive global market growth in the coming years.
Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Ulcerative Colitis Drug Market market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.
Leading companies operating in the market are:
Johnson & Johnson Services, Inc., AbbVie Inc., Takeda Pharmaceutical Company Limited, Pfizer Inc., Bristol-Myers Squibb Company, EA Pharma Co., Ltd., Elli Lilly and Company, Novartis AG, Merck & Co., Inc., Reistone Biophrma, and Bausch Health Companies Inc..
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Ulcerative Colitis Drug Market Market Segmentation:
Type Outlook:
Drug Type Outlook (Revenue, USD Billion; 2019-2030)
Biologics
Corticosteroids
Immunomodulators
5-aminosalicylic Acid
Immunosuppressant
Biosimilars
Others
Route of Administration Outlook (Revenue, USD Billion; 2019-2030)
Oral
Injectable
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
Hospital Pharmacy
Online Pharmacy
Retail Pharmacy
Application Outlook (Revenue, USD Billion; 2019-2030)
Proctosigmoiditis
Ulcerative Proctitis
Pancolitis
Left-sided Colitis
Acute Severe Ulcerative Colitis
Geographic Segment Covered in the Report:
The Ulcerative Colitis Drug Market report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
North America (USA and Canada)
• Europe (UK, Germany, France and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• Middle East and Africa (GCC and rest of the Middle East and Africa)
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Some Key Highlights from the Report
The global ulcerative colitis drug market is divided into biologics, corticosteroids, immunomodulators, 5-aminosalicylic acid, immunosuppressants, biosimilars, and others based on medication type. The biologics section accounted for the biggest revenue share in 2021 because to its ability to function selectively rather than affecting the entire body, resulting in fewer medication-related adverse effects and increased preference among care providers and care users.
During the projected period, the immunomodulators segment is predicted to have the highest revenue growth rate. This class of medications limits or modulates the body's immune response, preventing it from continuing inflammation. Immunomodulators are often used when corticosteroids and aminosalicylates have failed to function or have only partially worked, which might take months to become effective.
According to geographical analysis, the North America market is predicted to have the highest revenue share throughout the forecast period because to the sophisticated healthcare system in the United States, an increase in illness information and awareness among people, and technological innovation in this area. Furthermore, the high prevalence and growing incidence of Crohn's disease and ulcerative colitis in the United States and Canada, as well as the area's established healthcare system and high risk of lifestyle-related variables, are driving revenue growth in this region. Furthermore, the global IBD (ulcerative colitis and Crohn's disease) therapeutic market in this area is projected to be driven by top competitors' strong product pipelines. The market's development is also supported by the market's members' increased research activities.
AbbVie announced in June 2022 that the US Food and Drug Administration (FDA) has authorised SKYRIZI as the first and only specific Interleukin-23 (IL-23) to treat moderately to highly active Crohn's disease in adults.
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