Global Ulcerative Colitis Market Overview
Ulcerative colitis is a chronic disease affecting the colon or the large intestine due to genetic heritability or immune system malfunctioning. Ulcerative colitis is more localized in nature pertaining to five types of the diseases namely, ulcerative proctitis, proctosigmoiditis, left-sided colitis, pancolitis and acute severe ulcerative colitis. Ulcerative colitis affects the last intestine along with the rectum, anus and the inner lining of bowel tissue. Scientists estimate that whites and Ashkenazi Jewish descent have the highest risk of the disease however, the disease can occur in any race. The symptoms of the disease varies from rectal pain, diarrhea, cramping, fatigue, fever, severe bleeding, perforated colon, severe dehydration, bone loss, inflammation of skin, joints, eyes and various others.
Market Size & Forecast
The ulcerative colitis market is anticipated to record a CAGR of 6.6% over the forecast period i.e. 2019-2027. Many multi-national companies are concentrating towards new product advancements in ulcerative colitis medication and therapies discovery. 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.
On the basis of regional platform, the global ulcerative colitis market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is panned to observe substantial growth in ulcerative colitis market due to rising incidences of IBD 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.
Growth Drivers & Challenges
Increasing Incidences of Immune Malfunction
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. Additionally, the increasing prevalence of ulcerative colitis due to hereditary factors will boost the market further over the forecast period. Moreover, conditions such as adoption of sedentary lifestyle along with growing number of people suffering from stress are triggering flares in ulcerative colitis which are attributed to propel the market substantially during the forecast period. The disease is treated with the aid of medications and therapies under minor conditions, however in highly progressed cases, the complete colon is removed as a treatment for the disease. 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. These changes are further anticipated to increase the number of population suffering from the disease in upcoming years and is estimated to augment the market growth considerably across the globe.
Increasing R&D Expenditure
With growing government and non-government organizations in various countries for research and development of new medications and therapies, the market is estimated to showcase a budding growth during the forecast period. Further, the market is estimated to expand on the back of rising investments by market players in order to discover novel therapies.
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.CLICK TO DOWNLOAD SAMPLE
Strict Regulatory Standards
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. Furthermore, rising trend of generic drug prescription is estimated to hinder the market growth around the world.
Our-in depth analysis of the global ulcerative colitis market includes the following segments:
The global ulcerative colitis market is further classified on the basis of region as follows:
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