Ulcerative colitis is one of the forms of inflammatory bowel disease and affects the large intestine or colon. Development of drugs and clinical trials for treating the disease has been on the uptick owing to investments in research and development. The global ulcerative colitis market report by Market Research Future (MRFR) forecasts revenue and growth for the period of 2017 to 2022 (forecast period) for industry leaders. The impact of the COVID-19 pandemic on the industry supply and value chain has been analyzed for the forecast period.
The global ulcerative colitis market is expected to accrue revenues at a CAGR of 7% over the forecast period. The huge prevalence of inflammatory bowel diseases (IBD) is one of the primary factors driving market growth. According to the CDC, ulcerative colitis is detected between 0.5 to 24.5 cases in 100,000 persons annually. Introduction of effective treatment, a large patient pool, and large awareness levels of the disease among patients can bode well for the ulcerative colitis market.
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The impact of the COVID-19 pandemic on the global ulcerative colitis market is huge due to the sudden shift of priorities. The focus on providing therapeutic treatment to COVID-19 patients can negatively affect the industry owing to the low inflow of funds and grants for research and development on IBD diseases. However, presence of a strong pipeline of drugs and continuous supply of drugs such as Ozanimod and Risankizumab can augur favorably for the market.
But the inclination towards generic drugs due to the patent expiration of blockbuster drugs can dampen the ulcerative colitis market growth.
Ulcerative Colitis Market Segmentation
The global ulcerative colitis market is segmented on the basis of procedures and medication. Based on procedures, the ulcerative colitis market is segmented into ulcerative proctitis, proctosigmoiditis, left-sided colitis, pancolitis or universal colitis, and fulminant colitis. Ulcerative proctitis is likely to be dominant during the forecast period.
On the basis of medication the ulcerative colitis market is classified into 5-aminosalicylates, steroids, purine analogs, immunomodulators, and biologics. Among them, 5-aminosalicylates or 5-ASA is expected to generate huge revenues for the ulcerative colitis market owing to their capability of reducing the inflammation on the lining of the intestine. It is the prime component in sulfasalazine and absorbed into the colon with only a fraction being excreted.
Ulcerative Colitis Market Regional Analysis
The Americas, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC) are regions covered in the global ulcerative colitis market report.
The Americas is touted to be the leading region of the ulcerative colitis market owing to huge prevalence of ulcerative colitis in North America. The increasing numbers of the elderly and investments in clinical trials for enhancing the efficacy of drugs can drive the regional ulcerative colitis market growth. Recently, Innovation Pharmaceuticals had found success in Brilacidin for treatment of IBD diseases. But it decided to repurpose the drug for treatment of COVID-19 patients.
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APAC is expected to project a strong growth rate during the forecast period owing to new diagnostic methods for detection of ulcerative colitis, rise in R&D funding, high pollution levels, and unhealthy lifestyles of patients.
Ulcerative Colitis Market Competition Outlook
Takeda Pharmaceutical Company Limited, Pfizer Inc., UCB S.A., Ferring B.V., Allergan, Inc., Perrigo Company plc, Bayer AG, AbbVie Inc., and Johnson & Johnson Services, Inc. are key players of the global ulcerative colitis market.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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