United Kingdom Ulcerative Colitis Market to Reach US$ 548.1 Million by 2031, Says CoherentMI
The United Kingdom ulcerative colitis market size was valued at US$ 421.3 Mn in 2023 is grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031. Major Companies are Covered: AbbVie Inc. (Allergan, Inc.), Merck & Co., Inc., Novartis AG, Bausch Health Companies Inc., Johnson & Johnson and Among Others.
/EIN News/ -- Burlingame, July 30, 2024 (GLOBE NEWSWIRE) -- CoherentMI published a report, titled, United Kingdom Ulcerative Colitis Market was valued at US$ 421.3 Million in the year 2023 and is anticipated to reach US$ 548.1 Million by 2031, at a CAGR of 3.4% during forecast period 2024-2031. The prevalence of Ulcerative Colitis has been steadily rising in the United Kingdom over the past few decades. According to recent reports, it is estimated that over 146,000 people in the UK currently suffer from Ulcerative Colitis. The increased burden of this chronic inflammatory bowel disease on the population has drawn more attention towards its effective management and treatment. This rising patient pool diagnostic procedures and treatment medications, fueling growth of the UK ulcerative colitis market.
Market Dynamics:
The growth of the United Kingdom ulcerative colitis market is attributed to rising disease prevalence and increasing awareness among people. According to the Health Survey for England 2018, around 246,000 people in England have ulcerative colitis. In addition, ineffective dietary habits, genetic predisposition, and changing lifestyle are other factors fueling the prevalence of ulcerative colitis in the country. Further, favorable government support and initiatives to spread awareness about inflammatory bowel disease among people are propelling the market growth. However, high treatment cost remains a major challenge.
Market Report Scope:
| Report Coverage | Details |
| Market Revenue in 2023: | US$ 421.3 Million |
| Estimated Value by 2031: | US$ 548.1 Million |
| Growth Rate: | Poised to grow at a CAGR of 3.4% |
| Historical Data: | 2019–2023 |
| Forecast Period: | 2024–2031 |
| Forecast Units: | Value (USD Million/Billion) |
| Report Coverage: | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered: | By Drug Type, By Disease Type, By Dosage Form, By Distribution Channel |
| Geographies Covered: | United Kingdom |
| Growth Drivers: | • Increasing prevalence of ulcerative colitis |
| • Growing research and development activities | |
| Restraints & Challenges: | • Risk of side effects associated with long term medication use |
Key Market Takeaways:
- The United Kingdom ulcerative colitis market size is anticipated to witness a CAGR of 3.4% during the forecast period 2024-2031, owing to growing adoption of biologics and rising research & development activities for innovative molecules.
- On the basis of drug type, proctosigmoiditis segment is expected to hold a dominant position, owing to characteristics of affecting the rectum and sigmoid colon only and low risk of complications.
- On the basis of region, United Kingdom is expected to hold a dominant position over the forecast period, due to established healthcare infrastructure and high diagnosis rates.
- Key players operating in the United Kingdom Ulcerative Colitis market include AbbVie Inc. (Allergan, Inc.), Merck & Co., Inc., Novartis AG. These players are focused on expanding their product portfolio through mergers and acquisitions.
United Kingdom Ulcerative Colitis Market Trends:
Biologics segment to witness lucrative growth -
The emergence of biologics has revolutionized the treatment of ulcerative colitis. Biologics inhibit specific pro-inflammatory pathways and have shown strong efficacy with favorable safety profiles. Some of the popular biologics used in Ulcerative colitis treatment include Humira, Stelara and Entyvio. The segment accounted for over 45% market share in 2023 and is expected to witness significant growth over the forecast period.
Rise in online pharmacy sales -
In the wake of the COVID-19 pandemic, the preference for online purchasing of medicines has increased among patients. This has boosted the sales of ulcerative colitis drugs through online pharmacy channels. The trend is likely to continue as online platforms ensure safety, convenience and offer competitive prices compared to retail stores. Key players are focusing on strengthening their digital presence and online sales network to tap growth opportunities in the online retail space.
Recent Developments:
- On February 19, 2024, Everest Medicines, a biotech company, and its partner Pfizer Inc., a pharmaceutical company, announced the European Commission (EC) had granted marketing authorization for VELSIPITY (etrasimod) in the European Union to treat patients 16 years of age and older with moderately to severely active ulcerative colitis (UC) who have had an inadequate response, lost response, or were intolerant to either conventional therapy, or a biological agent.
- In June 2023, Eli Lilly and Company, a pharmaceutical company, announced U.K. marketing approval from the Medicines and Healthcare Products Regulatory Agency (MHRA) for its ulcerative colitis treatment, MIrikizumab.
Read the complete market research report, "United Kingdom Ulcerative Colitis Market, By Drug Type, By Disease Type, By Dosage Form, By Distribution Channel, and other Segment Forecast 2024-2031", Published by CoherentMI.
United Kingdom Ulcerative Colitis Market Opportunities:
Anti-Inflammatory Drugs -
The anti-inflammatory drugs segment held the largest market share of 30.7% in 2023 owing to its ability to reduce inflammation in Ulcerative Colitis patients. Some of the commonly prescribed anti-inflammatory drugs include mesalazine, sulfasalazine and corticosteroids like prednisone which help in blocking inflammatory responses in the colon and intestines.
Anti-TNF biologics -
The anti-TNF biologics segment is anticipated to witness lucrative growth during the forecast period owing to rising preference of biologics over traditional therapies for moderate to severe UC cases. Biologics inhibit factors like tumor necrosis factor alpha (TNF-α) that cause inflammation and tissue damage in the body. Drugs such as infliximab and adalimumab have revolutionized treatment by inducing clinical remission and mucosal healing in patients.
United Kingdom Ulcerative Colitis Market Segmentation:
-
By Drug Type
- Anti-Inflammatory Drugs
- Amino salicylates
- Corticosteroids
- Anti-TNF biologics
- Immuno-suppressants
- Calcineurin Inhibitors
- Others
- Anti-Inflammatory Drugs
-
By Disease Type
- Ulcerative Proctitis
- Proctosigmoiditis
- Left-sided Colitis
- Pancolitis or Universal Colitis
- Fulminant Colitis
-
By Dosage Form
- Parenteral
- Oral
-
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Purchase Latest Edition of this Research Report @ https://www.coherentmi.com/industry-reports/united-kingdom-ulcerative-colitis-market/buynow
Top Questions Answered in this Report:
- What factors are impeding the growth of the market for United Kingdom Ulcerative Colitis?
- What are the primary drivers fostering growth in the market for United Kingdom Ulcerative Colitis?
- Which segment stands out as the leading component in the United Kingdom Ulcerative Colitis Market?
- Who are the key players actively involved in the United Kingdom Ulcerative Colitis Market?
- Which region is poised to take the lead in the United Kingdom Ulcerative Colitis Market?
- What is the projected CAGR for the United Kingdom Ulcerative Colitis Market?
Browse More Trending Reports:
United States Pharmaceuticals Market: The United States Pharmaceuticals Market size is expected to reach US$ 1,068.02 billion by 2030, from US$ 599.47 billion in 2023, at a CAGR of 8.6% during the forecast period.
Global Feeding Tubes Market: The Global Feeding Tubes Market size is expected to reach US$ 9.69 billion by 2030, from US$ 6.34 billion in 2023, growing at a CAGR of 6.2% during the forecast period.
Global Muckle Wells Syndrome Market: The Global Muckle Wells Syndrome Market size is expected to reach US$ 335.9 Mn by 2030, from US$ 146.4 Mn in 2023, at a CAGR of 12.6% during the forecast period.
Global Undescended Testicle Market: The Undescended Testicle Market size is expected to reach US$ 7.38 billion by 2030, from US$ 4.51 billion in 2023, at a CAGR of 7.3% during the forecast period.
About Us:
At CoherentMI, we are a leading global market intelligence company dedicated to providing comprehensive insights, analysis, and strategic solutions to empower businesses and organizations worldwide. Moreover, CoherentMI is a subsidiary of Coherent Market Insights Pvt Ltd., which is a market intelligence and consulting organization that helps businesses in critical business decisions. With our cutting-edge technology and experienced team of industry experts, we deliver actionable intelligence that helps our clients make informed decisions and stay ahead in today's rapidly changing business landscape.
Mr. Shah
Senior Client Partner – Business Development
CoherentMI
Phone:
U.S.: +1-206-701-6702
U.K: +44-020-8133-4027
JAPAN: +81-50-5539-1737
INDIA: +91-848-285-0837
Email: sales@coherentmi.com
Website: https://www.coherentmi.com
EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.
