Ulcerative Colitis Market Size Worth USD 10.26 Billion by 2030 at 5.20% CAGR – Report by Market Research Future (MRFR)

New York, USA, May 08, 2023 (GLOBE NEWSWIRE) — Ulcerative Colitis Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR),”Ulcerative Colitis Market Information By Type, By Medication, And By Region – Market Forecast Till 2030”, the market is projected to grow from USD 7.57 Billion in 2023 to USD 10.26 billion by 2030, exhibiting a CAGR of 5.20% during the forecast period (2023 – 2030).

Market Scope:

The most prevalent type of inflammatory bowel illness that affects many people is ulcerative colitis. In the digestive tract, it produces inflammation and ulcers. The rectum and large intestine’s innermost lining are both impacted by ulcerative colitis. Although ulcerative colitis can occur at any age, it most frequently affects adults between the ages of 15 and 30. Individuals with ulcerative colitis may have diarrhea, passing blood with their stools, or an immunological reaction in their abdomen.

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Market Drivers

The prevalence of inflammatory gastrointestinal disease is increasing, there are more cases of ulcerative colitis, and several significant businesses are developing drugs to treat ulcerative colitis, all of which are fueling the market’s expansion. As inflammatory bowel illness becomes more common, it is projected that demand for ulcerative colitis will increase. The launch of biosimilars is encouraging market growth. In comparison to large pharmacies, biosimilars are projected to be more accessible and cheaper in poor countries. The projected patent expiration of several pharmaceuticals is one of the factors behind the launch of new biosimilars. Due to major companies’ increased interest in developing domain-related goods, this market is predicted to expand.

The causes behind the expansion include the development of innovative medicines with a better clinical profile and patient-friendly RoA, as well as the growing acceptance of targeted and advanced therapies. The primary drivers driving the growth of the ulcerative colitis market are an increase in the prevalence of inflammatory gastrointestinal illnesses, an increase in ulcerative colitis cases, and the development of drugs for the condition by multiple significant firms.

Market Limitations

But during the course of the projection period, issues such the high levels of unmet clinical need in ulcerative colitis (UC) and drug side effects are anticipated to limit market expansion.

Browse In-depth Market Research Report (85 Pages) on Ulcerative Colitis: https://www.marketresearchfuture.com/reports/ulcerative-colitis-market-2354

COVID-19 Analysis:

According to reports, the COVID-19 pandemic had a negative effect on the market for ulcerative colitis because COVID-19 patients were compelled to cancel or postpone elective surgery, including procedures for inflammatory bowel disease (IBD), despite the fact that these patients had a higher risk of needing urgent surgery. Therefore, the manufacture of pharmaceuticals to treat ulcerative colitis illness has decreased due to the delay in ulcerative colitis treatment processes, which has constrained market growth.

Ulcerative Colitis Market Segmentation:

Type Insights

The category that contributed the most to the market revenue for ulcerative colitis in 2022 was ulcerative proctitis.

Medications Insights

The Steroids category led the market in 2022 and is anticipated to expand at the fastest rate from 2022 to 2030. When taken in levels larger than what your body normally generates, steroids reduce inflammation by reducing redness and swelling. This may be advantageous for inflammatory illnesses including asthma and eczema.

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Ulcerative Colitis Market Regional Analysis:

The market for ulcerative colitis in North America reached USD 3.2976 billion in 2022 and is anticipated to increase at a substantial CAGR throughout the research period. North America’s healthcare sector is rapidly growing. The region has made a name for itself as a center of technical progress and innovation. Through the projection period, the Asia Pacific area is expected to increase significantly at a CAGR of 6.5 percent. Market expansion is fueled by increased consumer health consciousness and rising healthcare costs in this area. Due to the presence of major companies, the rising incidence of ulcerative colitis in the area, and the ongoing financing for the discovery of novel medicines for the treatment of the ailment, North America is predicted to dominate the market for ulcerative colitis.

The second-largest market share belongs to the ulcerative colitis market in Europe. In May 2021, Bristol Myers Squibb further gained approval from the government. Zeposia is a long-term inflammatory bowel medication approved by the Food and Drug Administration to treat individuals with moderately to highly active ulcerative colitis. As new medications were created, the market opportunity for ulcerative colitis grew as a result. Additionally, the UK’s ulcerative colitis market grew at the quickest rate in the European area, while Germany’s ulcerative colitis market had the biggest market share.

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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