The Ulcerative Colitis Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Ulcerative Colitis Global Market Report 2024, The ulcerative colitis market size has grown strongly in recent years. It will grow from $6.84 billion in 2023 to $7.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to prevalence of ulcerative colitis, innovations in drug development, biologics and targeted therapies, improved treatment guidelines, patient advocacy and support groups.
The ulcerative colitis market size is expected to see strong growth in the next few years. It will grow to $9.48 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to advancements in telemedicine, focus on early intervention, biosimilars market growth, research in gut microbiome, emergence of novel therapies. Major trends in the forecast period include patient-centric approaches, global collaborations in research, integration of digital health solutions, innovations in drug delivery, topical and localized therapies.
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.
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The ulcerative colitis market covered in this report is segmented –
1) By Drug Type: Anti-Inflammatory Drugs, Anti-TNF Biologics, Immunosuppressant, Calcineurin Inhibitors, Other Drug Types
2) By Disease Type: Ulcerative Proctitis, Proctosigmoiditis, Left-sided Colitis, Pancolitis or Universal Colitis, Fulminant Colitis
3) By Molecule Type: Biologics, Small Molecules
4) By Route of Administration: Oral, Injectables
5) By End-User: Hospital Pharmacies, Retail Pharmacies, Drug Store, Other End-User
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.
The ulcerative colitis market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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