Here’s a summary of the provided content, formatted as requested:
Key Takeaways:
- The UK ulcerative colitis market is projected to grow at a CAGR of 3.4% from 2024 to 2031.
- The proctosigmoiditis segment is expected to dominate based on drug type due to its lower risk of complications.
- The United Kingdom is expected to maintain its leading position in the market due to its robust healthcare infrastructure and high diagnosis rates.
- Key market players like AbbVie, Merck, and Novartis are focusing on expanding their product portfolios through strategic acquisitions.
- Biologics are expected to experience substantial growth in the market.
United Kingdom Ulcerative Colitis Market Overview
The United Kingdom ulcerative colitis market is poised for significant growth, with a valuation of US$ 421.3 million in 2023 and projected to reach US$ 548.1 million by 2031, exhibiting a compound annual growth rate (CAGR) of 3.4% during the forecast period from 2024 to 2031, according to a report by CoherentMI. This growth is primarily driven by the increasing prevalence of ulcerative colitis in the UK, coupled with a growing awareness among the population about the disease.
Market Dynamics and Drivers
Several factors contribute to the expansion of the UK ulcerative colitis market. The rising prevalence of ulcerative colitis is a key driver, with estimates indicating that over 146,000 people in the UK are affected by the condition. The Health Survey for England 2018 reported that approximately 246,000 individuals in England have ulcerative colitis. Ineffective dietary habits, genetic predisposition, and changing lifestyles are also contributing to the increased prevalence. Favorable government support and initiatives aimed at raising awareness about inflammatory bowel disease (IBD) further propel market growth. However, the high cost of treatment remains a significant challenge.
Market Segmentation and Trends
The ulcerative colitis market in the UK is segmented by drug type, disease type, dosage form, and distribution channel. The biologics segment is expected to witness lucrative growth, driven by the emergence of biologics as a revolutionary treatment option for ulcerative colitis. Biologics, such as Humira, Stelara, and Entyvio, target specific pro-inflammatory pathways and have demonstrated strong efficacy with favorable safety profiles. In 2023, this segment accounted for over 45% of the market share.
Another notable trend is the rise in online pharmacy sales. The COVID-19 pandemic accelerated the shift towards online purchasing of medicines, with patients increasingly preferring the safety, convenience, and competitive pricing offered by online platforms. Key players are focusing on strengthening their digital presence and online sales networks to capitalize on growth opportunities in the online retail space.
Recent Developments
Recent developments in the market include the European Commission’s approval of VELSIPITY (etrasimod) by Everest Medicines and Pfizer Inc. in February 2024 for treating patients 16 years and older with moderately to severely active ulcerative colitis in the European Union. Additionally, in June 2023, Eli Lilly and Company received marketing approval from the Medicines and Healthcare Products Regulatory Agency (MHRA) in the UK for its ulcerative colitis treatment, Mirikizumab.
Market Opportunities and Segmentation
The anti-inflammatory drugs segment, including aminosalicylates, corticosteroids, held the largest market share in 2023, accounting for 30.7%. These drugs, such as mesalazine, sulfasalazine, and prednisone, effectively reduce inflammation in ulcerative colitis patients by blocking inflammatory responses in the colon and intestines. The anti-TNF biologics segment is also poised for significant growth, driven by the increasing preference for biologics over traditional therapies for moderate to severe ulcerative colitis cases. Biologics like infliximab and adalimumab have transformed treatment by inducing clinical remission and mucosal healing.
The market is further segmented by dosage form and distribution channel, which includes hospital pharmacies, retail pharmacies, and online pharmacies. The growth of online pharmacies signifies the increasing adoption of digital channels for healthcare services.
Key Players and Competitive Landscape
The key players operating in the UK ulcerative colitis market include AbbVie Inc. (Allergan, Inc.), Merck & Co., Inc., and Novartis AG. These companies are focused on expanding their product portfolios through mergers and acquisitions, enhancing their market presence and offerings.
Frequently Asked Questions
The report addresses several key questions, including factors impeding market growth, primary drivers fostering growth, leading segments, key players, leading regions, and projected CAGR for the UK ulcerative colitis market.
About CoherentMI
CoherentMI is a leading global market intelligence company providing comprehensive insights, analysis, and strategic solutions to empower businesses and organizations worldwide. As a subsidiary of Coherent Market Insights Pvt Ltd., CoherentMI helps businesses make critical business decisions through actionable intelligence and experienced industry experts.