Ulcerative Colitis Market Huge R&D and Investment Done By Key Players towards Development of Novel Therapies for UC Treatment Fuels the Market Growth
Ulcerative colitis is an inflammatory bowel disease that affects the colon and rectum of the body. The disease affects people of all ages and most commonly begins at puberty and early adulthood, but may occur later. Ulcerative colitis is prevalent in the United States, Great Britain and Northern Europe. The most commonly preferred treatment for ulcerative colitis is traditional drug therapy consisting of biological agents and small molecules.
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A key driver of the global ulcerative colitis market is the worldwide increase in the prevalence of ulcerative colitis and an increase in research and development activities as key agents in developing new drug products for the treatment of disease. Market growth is also accelerating with an increase in patient support programs that have increased demand for branded drugs. Untapped emerging economies lacking adequate medical care are expected to provide numerous opportunities for market expansion.
Oral administration is the easiest route of administration and has prevented ulcerative colitis in half of the market share in 2016 because it prevents the immediate destruction of drugs by stomach acid. The main application area is expected to record a high CAGR of 6.9% per annum.
The key players operating in the global ulcerative colitis market are
• Johnson & Johnson
• GlaxoSmithKline plc
• Eli Lilly and Co.
• Sanofi Aventis A/S
• AstraZeneca plc
• Merck & Co. Inc.
• InDex Pharmaceuticals Holding AB
• Ajinomoto Pharmaceuticals Co. Ltd.
• Abbott Laboratories.
The other prominent players in the value chain include Avaxia Biologics Inc., BioLineRx Ltd., Celgene Corporation, Mitsubishi Tanabe Pharma Corporation, and Salix Pharmaceuticals, Inc.
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The moderate disease type segment is expected to witness the highest growth rate throughout the forecast period, with a CAGR of 6.8%. This is because the epidemic of ulcerative colitis is growing exponentially and there is a lack of awareness in the emerging economies that proper treatment methods and drug approval are not available. This causes ulcerative colitis to change from mild to moderate.
Key Findings of the Ulcerative Colitis Market:
• The severe disease type segment is anticipated to grow with a CAGR of 6.7% from 2017 to 2023.
• U.S. was the highest shareholder in the North American ulcerative colitis market in 2016, and is poised to retain its lead during the forecast period.
• Biologics registered the highest CAGR of 6.9%.
• India is expected to grow at a significant rate of 7.1%.
• The small molecules segment accounted for half of the share in 2016, registering a CAGR of 6.1%.
In 2016, Asia-Pacific and LAMEA collectively accounted for about two-sevenths share of the market and are expected to continue this trend in the future. This is due to high incidence of ulcerative colitis disease in China, India, and the other developing economies. Moreover, rise in investments towards development of healthcare infrastructure done by key players in the ulcerative colitis treatment field drives growth in the Asia-Pacific region.
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Ulcerative colitis is the most common type of inflammatory bowel disease that affects the colon (lining of the large intestine) and rectum. The inflammation produces tiny sores called ulcers. These disease can affect people of any age, though prevalence is especially high among people under 30 years of age. The major symptoms of this disease are diarrhea, belly pain/cramps, bleeding from the rectum, also other indications are sudden and unexplained