Yahoo Finance China Ulcerative Colitis Market to Surpass US$ 227 Million by 2028, Says Coherent Market Insights (CMI)
SEATTLE, Jan. 19, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the China ulcerative colitis market is estimated to be valued at US$ 185 million in 2021 and is expected to exhibit a CAGR of 2.9% over the forecast period (2021-2028).
Key Trends and Analysis of the China Ulcerative Colitis Market:
Key trends in the market include growing prevalence of ulcerative colitis, increase in lifestyle related risk factors, emergence of biosimilars, ongoing clinical trials, rise in drug approvals and launches, increasing R&D expenditure, and increasing collaborations, partnerships, mergers, and acquisitions among key players. These key trends are expected to aid in growth of the China Ulcerative Colitis Market.
For instance, in February 2021, the supplemental New Drug Application (sNDA) of Bristol Myers Squibb for Zeposia (ozanimod) was accepted by the U.S. Food and Drug Administration (FDA) to treat adult patients suffering from moderate to severe ulcerative colitis (UC).
Moreover, increase in number of novel drug products in pipeline is expected to drive the market growth over the forecast period. For instance, in March 2021, Eli Lilly and Company, an American pharmaceutical company, announced that the Lucent-1 is the first monoclonal antibody is in phase III study for moderate to severe ulcerative colitis.
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Furthermore, key players operating in the China ulcerative colitis market are focusing on adoption of inorganic growth strategies such as acquisitions, mergers, partnerships, and collaborations, in order to strengthen their market presence in the Chinese market.
For instance, in August 2021, Athos Therapeutics, Inc., a biotechnology company involved in the development of first-in-class precision therapeutics for patients with immune-mediated diseases, collaborated with Cleveland Clinic in Cleveland, Ohio. An aim of this agreement is to advance the precision medicine used in inflammatory bowel disease (IBD) conditions such as ulcerative colitis and Crohn's disease.
Key Market Takeaways:
The China ulcerative colitis market is expected to exhibit a CAGR of 2.9 % over the forecast period, owing to rising product approvals. For instance, in March 2020, Takeda Pharmaceutical Co. Ltd, a Japanese multinational pharmaceutical company received approval for Entyvio (Vedolizumab) by China’s National Medical Products Administration (NMPA). It is a gut selective biologic authorized to treat moderate to severe ulcerative colitis and Crohn's disease for adults in China who were intolerant or less responsive to conventional therapies or tumor necrosis factor alpha (TNFα) inhibitors.
Among drug therapy, 5-Aminosalicylates segment accounted for largest market share in 2021 owing to rising drug product launches, which leads to increased demand for ulcerative colitis drug therapy. For instance, in July 2021, Tillotts Pharma AG part of the Japanese Zeria Group, launched Asacol (mesalazine) as first-line therapy for mild to moderate ulcerative in China.
Competitive Landscape:
Key players operating in the China ulcerative colitis market include AbbVie Inc., Celltrion Healthcare, Johnson & Johnson Services, Inc., F. Hoffmann-La Roche AG, Arena Pharmaceuticals, Takeda Pharmaceuticals Company Ltd., GlaxoSmithKline Plc., Eli Lilly and Company, AstraZeneca, Pfizer Inc., Amgen, BRISTOL-MYERS SQUIBB, Finch Therapeutics Group, Inc., Athos Therapeutics, Inc., Teva Pharmaceutical Industries Ltd., and Tillotts Pharma AG.
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Market Segmentation:
China Ulcerative Colitis Market, By Drug Therapy:
5-Aminosalicylates
Monoclonal Antibodies
Steroids
Immunomodulators
Antibiotics
China Ulcerative Colitis Market, By Route of Administration:
Oral
Parenteral
China Ulcerative Colitis Market, By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
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