Ulcerative Colitis Drug Market to Reach $10.59 Billion by 2028: The Brainy Insights
NEWARK, N.J., March 16, 2022 /PRNewswire/ -- The report published by The Brainy Insights shows that the global ulcerative colitis drug market is expected to grow from USD 7.15 billion in 2020 to USD 10.59 billion by 2028, at a CAGR of 5.03% during the forecast period 2021-2028.
The ulcerative colitis drug market is experiencing substantial growth due to the increasing prevalence rate globally. Many medications are available to treat ulcerative colitis in the market, depending upon the cause and nature of the disease. Nowadays, key market players are heavily investing in research and development activities to launch innovative drugs to treat ulcerative colitis, and some companies have many products waiting for approval. These trends are likely to fuel market growth.
Get a Sample PDF of the report @ https://www.thebrainyinsights.com/enquiry/sample-request/12521
Ulcerative colitis is an inflammatory bowel disease (IBD) of the large intestine. In this condition, the colon becomes inflamed, developing tiny open sores or ulcers that cause ulcers (sores) and long-lasting inflammation in the digestive tract. Ulcerative colitis can occur at any age in the lifeline, but it usually starts between the ages of 15 years and 30 years. The main focus of these drugs is to minimize & control the signs and symptoms of the disease. The treatment and medicines depend on the severity of the patient's condition and the location of ulcerative colitis. The medications such as corticosteroids, immunomodulatory drugs, and biologics are used to treat ulcerative colitis effectively.
The growing prevalence and incidences of ulcerative colitis across the globe are the driving factors of the rapid growth of the drug market over the forecast period. The adverse side effects of the ulcerative colitis drug and lack of public awareness may hinder the market growth over the forecast period. However, ongoing research and development to launch new drugs and the opportunity to develop generic drugs are some of the factors offering future growth opportunities for the vendors in the market.
For any Queries Related to the Report, Ask an Analyst @ https://www.thebrainyinsights.com/enquiry/speak-to-analyst/12521
Key players operating in the global ulcerative colitis drug market are Bausch Health Companies Inc. (Salix Pharmaceutical), AbbVie Inc., Johnson and Johnson, Boehringer Ingelheim GmbH, Novartis AG, Merck & Co., Teva Pharmaceuticals Ltd., Takeda Pharmaceuticals, Shire, and Pfizer Inc. among others. The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint ventures, alliances, and partnerships to improve their market position in the global ulcerative colitis drug industry.
- For instance, in December 2017, Boehringer Ingelheim announced the partnership with Roche to develop oral novel Locked Nucleic Acid (LNA) oligonucleotides used to treat inflammatory bowel diseases (IBDs).
- In June 2018, Merck & Co. announced the launch of RENFLEXIS (infliximab-abda), a biosimilar of the originator biologic medicine Remicade (infliximab) in the U.S. for the treatment of ulcerative colitis.
Enquire or share your questions if any before purchasing this report @ https://www.thebrainyinsights.com/enquiry/speak-to-analyst/12521
Biologics accounted for a significant market share of 43.32% in 2020.
The type segment is divided into biologics, corticosteroids, immunomodulators, 5-aminosalicylic acid, immunosuppressant, biosimilars, etc. Biologics accounted for a significant market share of 43.32% in 2020. Biologics drugs work in a selective manner, rather than effects on the whole body; thus, people prefer biologics more than any other medicines, which is expected to drive the market's growth.
The oral segment dominated the market and held a market share of 65.56% in the year 2020.
The route of administration segment is classified into oral and injectable. The oral segment held a significant market share of 65.56% in the year 2020 due to the development of new oral drugs to treat ulcerative colitis.
The hospital pharmacy segment held the major market share and was valued at USD 3.30 billion in 2020.
The distribution channel segment includes hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment held the major market share and was valued at USD 3.30 billion in 2020. Increasing ulcerative colitis patients led to an increase in the total number of hospitalizations worldwide, resulting in the growth of the hospital pharmacy segment.
The ulcerative proctitis segment accounted for the largest market share of 57.23% in 2020.
The application segment comprises proctosigmoiditis, ulcerative proctitis, pancolitis, left-sided colitis, acute severe ulcerative colitis, and others. The ulcerative proctitis segment accounted for the largest market share of 57.23% in 2020. It is considered the first manifestation of ulcerative colitis. Thus, the growing prevalence of ulcerative proctitis boosts the growth market.
Regional Segment Analysis of the Ulcerative Colitis Drug Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East & Africa (UAE, South Africa, Rest of MEA)
Directly Purchase a copy of the report with TOC @ https://www.thebrainyinsights.com/buy-now/12521/single
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East & Africa. The North American region emerged as the largest ulcerative colitis drug market and was valued at USD 3.16 billion in the year 2020. The North American market is growing tremendously in the healthcare industry. Further, the region has become the hub for technological development and transformation. On the other hand, the Asia Pacific region is anticipated to grow at the highest CAGR of 7.9% over the forecast period in the global ulcerative colitis drug market. Increasing health awareness among the consumers and rising healthcare expenditure in the region are driving the market's growth.
About the report:
The global ulcerative colitis drug market is analysed based on value (USD Billion). All the segments have been researched on a global, regional, and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, and competitor position grid analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. The company provides both customized (clients' specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. The customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: [email protected]
Web: http://www.thebrainyinsights.com
SOURCE The Brainy Insights
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article