Developments in biosimilars, increasing prevalence rate of Inflammatory Bowel disease, 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. Inflammatory bowel disease (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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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 drug discovery and growing investments by public and private sectors are expected to drive global market growth in the coming years.
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 RD, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.
Leading companies operating in the 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, Pfizer 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:
Drug Type Outlook (Revenue, USD Billion; 2018-2028)
- 5-aminosalicylic acid
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals Pharmacy
- Online Pharmacy
- Retail Pharmacy
Application Outlook (Revenue, USD Billion; 2018-2028)
- Inflammatory proctitis
- Panbowel disease
- Left-sided bowel disease
- Acute severe inflammatory bowel disease
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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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 Inflammatory 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.
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