New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ulcerative Colitis Global Market Report 2023" - https://www.reportlinker.com/p06479790/?utm_source=GNW
Inc., Novartis AG, Pfizer Inc., Sanofi S.A., Allergan PLC, Bayer AG, BioLineRx Ltd., and
Celgene Corporation.
The global ulcerative colitis market is expected to grow from $6.35 billion in 2022 to $6.84 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ulcerative colitis market is expected to reach $8.86 billion in 2027 at a CAGR of 6.7%.
The ulcerative colitis market consists of sales of aminosalicylates and corticosteroids.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Ulcerative colitis is a chronic inflammatory bowel disease (IBD) and is categorized as an autoimmune disorder in which the immune system attacks healthy tissue of the large intestine and causes inflammation on the superficial layer of the large intestine. It includes symptoms of diarrhea, weight loss, abdominal cramping, anemia, blood or pus in bowel movements, and others.
North America was the largest region in the ulcerative colitis market in 2022. The regions covered in ulcerative colitis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of drugs for ulcerative colitis are anti-inflammatory drugs, anti-TNF biologics, immunosuppressants, calcineurin inhibitors, and others.Anti-inflammatory drugs refer to a drug or substance that reduces inflammation (redness, swelling, and pain) in the body.
These are prescribed for various diseases such as ulcerative proctitis, proctosigmoiditis, left-sided colitis, pancolitis or universal colitis, and fulminant colitis, with molecule types including biologics and small molecules, which can be administered orally or injectable. It is used by various end-users, including hospital pharmacies, retail pharmacies, drug stores, and others.
The increasing healthcare expenditure is expected to propel the growth of the ulcerative colitis market going forward.Health expenditure refers to all spending for health-related services, family planning activities, nutrition activities, and emergency help, but excludes expenses for drinking water and sanitation.
Increased healthcare spending can benefit ulcerative colitis sufferers by improving access to medical care and therapies.Hospitalization for ulcerative colitis can be significant, and hospital readmissions for flares can result in higher mortality and healthcare costs.
For instance, in March 2022, according to the 2021–2030 National Health Expenditure (NHE) report published by the Centers for Medicare & Medicaid Services, a US-based Department of Health and Human Services department, the annual increase in national health spending was predicted to average 5.1% between 2021 and 2030, reaching approximately $6.8 trillion by 2030. Additionally, throughout the period 2021–2030, Medicare expenditures are expected to expand at a 7.2% annual rate, while Medicaid spending is expected to grow at a 5.6% annual rate. Therefore, increasing healthcare expenditures are driving the growth of the ulcerative colitis market.
Technological advancements are a key trend gaining popularity in the ulcerative colitis market.Companies operating in the ulcerative colitis market are adopting new technologies to sustain their position in the market.
For instance, in March 2023, Clario ERT Inc., a US-based healthcare research and technology firm, and GI Reviewers LLC, a US-based pharmaceutical reviews and assessment organization, along with RSIP Vision, an ISRAEL-based software company, released their innovative and human-level AI technology-based rating system to improve efficiency and consistency of inflammatory bowel disease (IBD) scoring, such as ulcerative colitis (UC) and Crohn’s disease scoring. The method is projected to enhance the repeatability of colonoscopy video scoring, streamline workflow by reducing the time necessary for a human expert reader to score, and, eventually, boost recruitment and lower clinical trial expenses. The performance of algorithms, as measured by the Kappa metric technology, was shown to be equivalent to that of human reviewers. The algorithm was trained on hundreds of films from various sites and devices, comprising over 100,000 photos, all of which were assessed by an expert gastroenterologist.
In March 2022, Pfizer Inc., a US-based biopharmaceutical company, acquired Arena Pharmaceuticals Inc. for approximately $6.7 billion. This acquisition aims to expand Pfizer’s existing inflammation and immunology pipeline portfolio of drugs into its inflammation and immunology therapeutic area, which will aid in the goal of generating breakthroughs to improve the lives of people suffering from immuno-inflammatory disorders. Arena Pharmaceuticals Inc. is a US-based biopharmaceutical company and developer of Etrasimod, a highly selective, once-daily oral sphingosine 1-phosphate (S1P) receptor modulator that is used for the treatment of ulcerative colitis, Crohn’s disease, and others.
The countries covered in the ulcerative colitis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The ulcerative colitis market research report is one of a series of new reports that provides ulcerative colitis market statistics, including ulcerative colitis industry global market size, regional shares, competitors with an ulcerative colitis market share, detailed ulcerative colitis market segments, market trends and opportunities, and any further data you may need to thrive in the ulcerative colitis industry. This ulcerative colitis market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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