Market Overview
The Ulcerative Colitis Market Size was evaluated at USD 7.2 billion in 2022 and is expected to rise from USD 7.5744 billion in 2023 to USD 10.77 billion by 2032, with a compound annual growth rate (CAGR) of 5.1% over the forecast period (2023-2032).
As per the report published by Market Research Future (MRFR), the global ulcerative colitis market is estimated to secure a significant market value, expanding at a significant CAGR by 2032. The cause of ulcerative colitis (UC) is yet unknown. However, the increasing malfunctioning of the immune system is predicted to be the primary cause of ulcerative colitis in humans.
The worldwide expansion of the UC patient pool is projected to be one of the most significant factors driving the global ulcerative colitis market outlook 2023. A plethora of research is being conducted across the globe to find the definite cause and solution to the growing chronic illness among the individuals, and is estimated to augment the market significantly. Further, the supportive initiatives taken by the government to develop the healthcare infrastructure to meet the demands of UC patients is anticipated to widen the market substantially.
The patent expiry of drugs is recognized to be the most significant factor impeding the market. However, the above-stated factors are predicted to combat the restraining factors considerably.
Market Segmentation
The segment evaluation of the global ulcerative colitis market report is done by types and medication.
The type-based segments of the global ulcerative colitis market are proctosigmoiditis, pancolitis or universal colitis, ulcerative proctitis, left-sided colitis, and fulminant colitis. Among all, the ulcerative proctitis is anticipated to procure the largest market share during the forecast period.
The medication-based segments of the global ulcerative colitis market are steroids, 5-aminosalicylates, purine analogs, immunomodulators, and biologics. Among all, the biologics segment is estimated to secure the largest market share. On the other hand, steroid drugs are projected to prosper at the highest CAGR during the review period.
Regional Analysis
Based on the region, the global ulcerative colitis market is segmented into North America, Asia-Pacific, Europe, and the Middle East and Africa.
According to MRFR, the global market is projected to be dominated by North America by procuring the largest market share. The most significant factor responsible for the regional growth is the participation of established key players, along with the widening patient pool of the UC patients. Further, the advanced healthcare infrastructure is anticipated to propel the market significantly during the review period.
The second position is procured by Europe owing to the favorable initiatives taken by the government, resulting in the prosperity of the regional market. Economic development, along with better healthcare facilities, are anticipated to fuel the regional market significantly during the review period.
The APAC region is projected to be the fastest-growing market owing to the fast development of healthcare infrastructure, and the support provided by the government of various countries. Besides, the participation of developing countries like India, and China are likely to make a significant contribution to expand the regional market. Further, the rising disposable income has allowed the individuals to avail efficient treatment methods, which is anticipated to stimulate the market growth in the region.
The MEA region is anticipated to procure the least market share owing to the presence of poor political and economic conditions. Lack of awareness, and underdeveloped healthcare infrastructure is likely to deter the market expansion additionally. However, the contribution made by the stable economies of the Middle East region like Kuwait, Saudi Arabia, and others are predicted to underpin the regional market during the assessment period.
Key Players
The renowned players of the global ulcerative colitis market are AbbVie Inc., Allergan, Inc., Takeda Pharmaceutical Company Limited, and Bayer AG, Perrigo Company plc, UCB S.A., Pfizer Inc., Ferring B.V., Johnson & Johnson Services, Inc., Janssen Biotech, and Merck
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