The global ulcerative colitis market accounted for $4,785 million in 2019 and is expected to reach XX million by 2028, registering a CAGR of 6.5% from 2019 to 2028.
Ulcerative Colitis (UC) is a chronic, debilitating disease that affects large intestine or colon. The cause of ulcerative colitis is unknown however, researchers believe that it is an exaggerated immune response to a microbial trigger. UC is characterized by inflammation in the colon, and its symptoms include blood in the stool, diarrhea, and abdominal pain. As per Pfizer Inc., UC affects about one million people in the U.S. each year. The treatment of UC includes traditional therapies such as drugs made of tumor necrosis factor (TNF) inhibitors and small molecule.
The emergence of biosimilars is also one of the major factors governing the overall market. Biosimilars are expected to be less costly than biologics, making them more accessible in developing countries. The expected patent expiration of some of the drugs is one of the factors responsible for the launch of new biosimilar.
The factor that drives the growth of global ulcerative colitis market are growing prevalence of ulcerative colitis disease that affects millions of people globally. In addition, huge R&D and investment done by key players towards development of novel therapies for UC treatment and rise in government and non-government organizations towards research in biologics further fuels the market growth. However, patent expiry of drugs and stringent government regulations towards approval of biosimilars restrain the market growth. Unmet needs in the treatment of UC provide lucrative growth opportunities for the growth of the market.