The Europe Ulcerative Colitis Market would witness market growth of 5.2% CAGR during the forecast period (2022-2028).
One of the primary aspects regulating the total industry is the advent of biosimilars. Biosimilars should be less expensive than biologics, making them more affordable in developing countries. One of the factors driving the emergence of new biosimilars is the projected patent expiration of some medications. Moreover, the industry is expected to be driven by the increased engagement of important firms in product development connected to the field. Pfizer, for example, started a phase III clinical trial in June 2021 to evaluate tofacitinib's effectiveness, safety, and pharmacokinetics (PK) in juvenile patients with moderately to severely active Ulcerative Colitis.
In October 2028, the experiment is projected to be completed. Takeda Pharmaceutical Company Limited began a phase III research trial in Japan in June 2021 to evaluate the efficacy and safety of intravenous (IV) Vedolizumab in Japanese patients with moderate to severe Ulcerative Colitis. In September 2024, the experiment is projected to be completed. However, market growth is projected to be hampered by factors like high levels of unmet clinical need in ulcerative colitis (UC) and medication side effects over the projection period.
The European region is characterized by the government's supportive policies. In addition, economic growth and enhanced healthcare services are the major trends in the regional market. Clinical-stage businesses working on new IBD treatments would help the regional market to expand further. Sterna Biologicals, a clinical-stage firm based in Germany, is undertaking phase IIb clinical studies for the treatment of ulcerative colitis. Galapagos NV, a research-based business, is also undertaking phase 3 clinical studies for Filgotinib, a JAK inhibitor, to treat Crohn's disease and ulcerative colitis. In the next two to three years, the medicine is expected to be approved for IBD treatment.
Furthermore, the European Federation of Crohn's and Ulcerative Colitis Associations (EFCCA) estimates that 3.4 million people in Europe will be living with IBD in 2020. IBD is affecting a growing number of individuals, thus boosting the demand for appropriate treatment alternatives. Hence, these aspects are anticipated to open new growth avenues for the players operating in the Ulcerative Colitis Market over the forecast years.
The Germany market dominated the Europe Ulcerative Colitis Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $594.8 million by 2028. The UK market is poised to grow at a CAGR of 4.4% during (2022 - 2028). Additionally, The France market would display a CAGR of 6% during (2022 - 2028).
Based on Molecule Type, the market is segmented into Small Molecules and Biologics. Based on Disease Type, the market is segmented into Mild, Moderate, and Severe. Based on Route of Administration, the market is segmented into Oral and Injectables. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Ulcerative Colitis Market Size will Hit $9 Billion by 2028, at a CAGR of 5.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Ajinomoto Co., Inc., AstraZeneca PLC, GlaxoSmithKline PLC, Johnson & Johnson, Merck & Co., Inc., Pfizer, Inc., Sanofi S.A., InDex Pharmaceuticals Holding AB, and Eli Lilly And Company.
ByMolecule Type
By Disease Type
By Route of Administration
By Country
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