United Kingdom Ulcerative Colitis Therapeutics Market is Anticipated to Witness Growth owing to Rising Incidence of Inflammatory Bowel Diseases
Market Overview
The United Kingdom ulcerative colitis therapeutics market is growing at a significant rate due to the increasing prevalence of inflammatory bowel diseases such as ulcerative colitis in the country. Ulcerative colitis is a chronic inflammatory bowel condition that causes long-lasting inflammation and ulcers in the colon and rectum. It differs from Crohn's disease, another type of inflammatory bowel disease which affects any part of the gastrointestinal tract from mouth to anus. The symptoms of ulcerative colitis include abdominal pain, rectal bleeding, bloody diarrhea, weight loss and fatigue. The increasing adoption of sedentary lifestyle along with changes in dietary pattern is leading to rising incidence of ulcerative colitis in the UK population. There has been significant growth in novel therapeutics such as biologics and small molecules for effective treatment of ulcerative colitis.
The Global United Kingdom Ulcerative Colitis Market Size therapeutics market is estimated to be valued at US$ 421.3 Mn in 2024 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the United Kingdom ulcerative colitis therapeutics are AbbVie Inc. (Allergan, Inc.), Merck & Co., Inc., Novartis AG, Bausch Health Companies Inc., Johnson & Johnson and Among Others. AbbVie holds a major share in the UK market owing to its blockbuster drug Humira which is approved for several inflammatory conditions including ulcerative colitis. There is a strong pipeline of drugs in Phase III trials which can further expand treatment options in future.
The key opportunities in the UK ulcerative colitis therapeutics market include the availability of effective biologics and small molecules for treatment of refractory ulcerative colitis cases. Traditionally steroid drugs were the mainstay but with advent of targeted therapies, remission can be achieved better. Other opportunity lies in development of novel drug delivery systems such as oral formulations which can improve patient compliance for chronic treatment of ulcerative colitis.
The key players in the market are focusing on global expansion by establishing manufacturing and distribution partnerships across European countries, Asia, Middle East and Latin America. With rising prevalence outside the western countries, these regions present huge market potential. Manufacturers are gaining regulatory approvals and scaling up production capacity to cater to the global demand.
Market Drivers
Rising incidence of inflammatory bowel diseases due to changes in lifestyle and environment is a major growth driver. Sedentary habits, junk food consumption and microbial changes in gut due to various factors are known to trigger ulcerative colitis. Increasing awareness about disease treatment options is also driving more patients to seek medical help. Advancements in drug therapies with targeted biologics have significantly improved treatment outcomes. This gives patients and physicians confidence in treatments.
Market Restraints
High costs of biologic drugs remain a major challenge for broad adoption despite their superior efficacy. Biologics require refrigerated storage and medical supervision for administration which adds to costs. Biosimilars are priced lower but have limited number of brands. Side effects of drugs also adversely impact adherence. Strict regulations for drug development increases costs and timelines for market entry of new drugs.
Segment Analysis
The United Kingdom ulcerative colitis market is segmented based on drug class into amino salicylates, corticosteroids, immunomodulators, and biologics. The biologics segment dominated the market in 2021 owing to the high efficacy and safer side effect profile of biologics drugs for ulcerative colitis treatment. Biologics help in inducing and maintaining remission in ulcerative colitis patients by regulating the body’s immune system which attacks the lining of the colon. The rising accessibility and adoption of biologics drugs for ulcerative colitis treatment are responsible for the segment's large market share.
Global Analysis
The North America region accounted for the largest share of the global ulcerative colitis market in 2021. This is attributed to factors such as the increasing prevalence of inflammatory bowel diseases, rising awareness about ulcerative colitis treatment options, ongoing research and approvals of novel drugs, and presence of major market players in the region. However, the Asia Pacific region is expected to witness the highest CAGR during the forecast period owing to rapidly improving healthcare infrastructure, rising medical tourism, large patient population, and growing government initiatives to spread awareness about ulcerative colitis.
What Are The Key Data Covered In This United Kingdom Ulcerative Colitis Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the United Kingdom Ulcerative Colitis Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the United Kingdom Ulcerative Colitis Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- United Kingdom Ulcerative Colitis Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of United Kingdom Ulcerative Colitis Market vendors
FAQ’S
Q.1 What are the main factors influencing the United Kingdom Ulcerative Colitis market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top United Kingdom Ulcerative Colitis Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the United Kingdom Ulcerative Colitis market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
Get more insights on this topic: https://www.ukwebwire.com/united-kingdom-ulcerative-colitis-market-trend-size-and-demand/