Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
The global ulcerative colitis market is segmented by procedure into ulcerative proctitis, proctosigmoiditis, left-sided colitis, pancolitis and fulminant colitis; by medication into 5-aminosalicylates, steroids, purine analogs, immuno-modulators and biologics and by regions. The ulcerative colitis market is anticipated to mask a CAGR of 6.6% during the forecast period i.e. 2019-2027.
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Currently, the market is observing vibrant growth owing to increasing number of incidences of people suffering from this problem. Advancements in healthcare industry in the past few years and growing research explorations are projected to drive the market during the forecast period. Increasing demand for better treatment procedures with developing healthcare infrastructures combined with efficient disease therapies is attributed to drive the ulcerative colitis market across the developing and developed economies around the globe.
North America is panned to observe substantial growth in ulcerative colitis market due to rising incidences of IBD (inflammatory bowel disease) with Canada among the countries with highest diagnostic rates of IBD that results in either Colitis or Crohn’s disease. North America is expected to be followed by Asia Pacific in terms of consumption due to expanding incidences of ulcerative colitis accompanied with expansion of drug development sector and growing healthcare infrastructure across the region. Europe is expected to drive demand and positively impact the market growth over the forecast period on the back of increasing favorable insurance schemes, along with rising improved safety therapy profiles and drug availability across the region.
Growing Incidence Rate of Ulcerative Colitis
Centers for disease control and prevention (CDC), reported that there were 1.3% of US adults (3 million) diagnosed with IBD in the year 2015. This increasing number of people being diagnosed with inflammatory bowel disease (IBD) across the developed regions and urban areas accompanied with growing urbanization is expected to induce a substantial growth in the ulcerative colitis market during the forecast period. On the back of increasing incidences of immune system malfunction affecting the good gut bacteria and the cells that line the colon is expected to boost the market growth in upcoming years.
The Crohn’s and Colitis Canada Foundation states that people are most commonly diagnosed before the age of 30 with the disease. Besides, scientists believe that a trigger in the environment and a genetic tendency are combined to set off inflammation in the gut. These factors are resulting in the weakening of the immune system to continue to run among the population that is in-turn leading to ulcerative colitis.
However, strict governmental standards for approval of biosimilars along with increasing patent expiries of the old drugs are estimated to serve as the key restraints behind the growth of the ulcerative colitis market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global ulcerative colitis market which includes company profiling of Roche, AbbVie, Takeda Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Johnson and Johnson, AstraZeneca, Shire Pharmaceuticals, Pfizer, Merck, Allergan, Inc. and other prominent players.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ulcerative colitis market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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