PUBLISHER: DataM Intelligence | PRODUCT CODE: 1316237
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1316237
The global ulcerative colitis treatment market reached US$ 6.9 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 11.1 billion by 2030. The global ulcerative colitis treatment market is expected to exhibit a CAGR of 6.3% during the forecast period (2023-2030).
The growing number of inflammatory bowel diseases including ulcerative colitis, increasing research activities, rising number of product approvals, and market developments such as mergers, acquisitions, collaborations, and product introductions are among the primary factors expected to drive the global ulcerative colitis treatment market growth in the forecast period.
The increasing product approvals for the treatment of ulcerative colitis are expected to boost the global ulcerative colitis treatment market growth in the forecast period. For instance, in March 2022, AbbVie, a pharmaceutical corporation obtained United States Food and Drug Administration (FDA) authorization for RINVOQ (upadacitinib) to treat adults with intermediate to extreme active ulcerative colitis (UC) who have had an insufficient response or intolerance to one or more tumor necrosis factor (TNF) blockers.
Likewise, in November 2021, the European Commission authorized an added indication for Jyseleca (filgotinib) to treat active ulcerative colitis in adult patients.
The increasing research activities are presenting the global market with prospective growth opportunities. For instnace, in March 2021, in Canada, Eli Lilly and Company, an American pharmaceutical company, began a phase II clinical investigation to evaluate the effectiveness and safety of LY3471851 in adult individuals with active ulcerative colitis (UC). The study is estimated to be concluded in October 2024.
The presence of stringent regulatory bodies for the approval of newly developed drugs for ulcerative colitis is hampering the global market growth in the forecast period. For instnace, the major regulatory bodies supervising the authorization and commercialization of ulcerative treatment drugs include the United States Food and Drug Administration (USFDA) and the European Medicines Agency, an agency of the European Union in charge of the evaluation and supervision of pharmaceutical products in European Union.
The financial health of companies across all industries has been impacted by the COVID-19 pandemic and lockdown in numerous nations throughout the world. Therefore, for the period of the COVID-19 public health emergency, the U.S. Food and Drug Administration (FDA) issued guidelines that include general considerations to aid sponsors and researchers, ensuring the safety of trial participants, adhering to good clinical practice (GCP), and minimizing risks to trial integrity.
The Russia-Ukraine conflict is thought to hold a moderate influence on the global ulcerative colitis treatment market, as there is a low prevalence of ulcerative colitis and a lack of primary market players in this region.
Though continuing to countenance invasions from Russian armies, Ukrainian clinics are forced by growing numbers of deaths and limited medical aid. There are shortages across all types of medications. Again, the significance of the import and export of fundamental materials are expected to have a slight impact on the global ulcerative colitis treatment market growth in the forecast period.
The global ulcerative colitis treatment market is segmented based on type, drug class, route of administration, distribution channel, and region.
Owing to the increasing positive outcomes from research investigation the immunosuppressant drug class segment is estimated to hold around 39.8% of the global market in the forecast period. For instance, in June AbbVie, a pharmaceutical corporation reported positive top-line outcomes from COMMAND, its Phase 3 maintenance investigation, revealing risankizumab (SKYRIZI, 180 mg or 360 mg subcutaneous [SC]) attained the preliminary endpoint of clinical remission (per Adapted Mayo Score) at week 52, and critical secondary endpoints in adult individuals with intermediate to extreme active ulcerative colitis.
Owing to the increasing marketing applications acceptance and increasing research approval in Europe is estimated to boost the region's growth attaining 28% of the global market share by 2030. For instance, in December 2022, Pfizer Inc., an American multinational pharmaceutical corporation, reported that The European Medicines Agency (EMA) has received the Marketing Authorization Application (MAA) for etrasimod in the patient inhabitants with the conclusion expected in the first half of 2024.
Also, in August 2022, Abivax SA, a French clinical-stage, publicly traded biotechnology corporation concentrated on designing therapies that modulate the immune system for the treatment of chronic inflammatory conditions, viral diseases, and cancer obtained authorization from the central U.S. Institutional Review Board (IRB) for the protocols for the investigations allowing the beginning of registrations with obefazimod (ABX464) in UC in the U.S. A first-patient-in was expected for the end of the third quarter of this year.
The major global players in the ulcerative colitis treatment market include: Abbott Laboratories, Ajinomoto, AstraZeneca Plc., Eli-Lilly, GlaxoSmithKline Plc., Index Pharmaceuticals Holdings AB, Johnson & Johnson, Merck & Co., Pfizer Inc., and Sanofi, among others.
The global ulcerative colitis treatment market report would provide approximately 53 tables, 54 figures, and 195 Pages.
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