by The global Ursodeoxycholic Acid Market is estimated to be valued at US$ 457.3 million in 2017 and is expected to exhibit a CAGR of 10.1% over the forecast period, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Ursodeoxycholic acid, also known as UDCA or ursodiol, is a bile acid naturally produced in the liver and is commonly used as a medication in the treatment of various liver diseases. It is primarily used to dissolve gallstones, treat primary biliary cholangitis, and manage certain liver conditions. Ursodeoxycholic acid helps in maintaining the balance of cholesterol in the body and protects the liver against toxic bile acids. It is available in tablet and liquid forms and is prescribed both in hospitals and retail pharmacies.
Market Dynamics:
The global Ursodeoxycholic Acid market is driven by two key factors – the rising prevalence of liver diseases and growing research activities. Liver diseases, such as primary biliary cholangitis, primary sclerosing cholangitis, and nonalcoholic fatty liver disease, are on the rise globally. According to the World Health Organization (WHO), liver diseases are the 10th leading cause of death worldwide. Ursodeoxycholic acid has shown promising results in the treatment of these diseases, leading to increased demand for the medication.
Furthermore, the growing research activities in the field of liver diseases and related therapeutics are fueling the market growth. Several pharmaceutical companies and research institutions are conducting clinical trials and studies to explore the potential of Ursodeoxycholic acid in the treatment of various liver conditions. This is expected to drive the market growth during the forecast period.
Segment Analysis:
The Ursodeoxycholic Acid market can be segmented based on application. The primary biliary cholangitis segment dominates the market and is expected to continue its dominance over the forecast period. Primary biliary cholangitis is a chronic liver disease that affects the bile ducts, leading to their inflammation and damage. Ursodeoxycholic acid is the primary treatment option for this condition as it helps improve liver function and slows down disease progression.
PEST Analysis:
Political: The political stability and government policies play a crucial role in the growth of the Ursodeoxycholic Acid market. Favorable regulations and policies supporting research and development activities in the pharmaceutical sector can positively impact market growth.
Economic: Economic factors such as per capita healthcare expenditure, affordability of medications, and reimbursement policies influence the adoption of Ursodeoxycholic acid. Growing healthcare expenditure and favorable reimbursement policies in developed countries contribute to market growth.
Social: The increasing prevalence of liver diseases, unhealthy lifestyle choices, and aging population are social factors driving the demand for Ursodeoxycholic acid. The rising awareness about liver diseases and the importance of early diagnosis and treatment also contribute to market growth.
Technological: Technological advancements in drug delivery systems and the development of novel formulations of Ursodeoxycholic acid can improve patient compliance and enhance market growth. The use of techniques such as nanotechnology and targeted drug delivery systems holds promising potential in the treatment of liver diseases.
Key Takeaways:
– The global Ursodeoxycholic Acid Market is expected to witness high growth, exhibiting a CAGR of 10.1% over the forecast period, due to increasing prevalence of liver diseases and growing research activities in the field.
– Asia Pacific is expected to be the fastest-growing and dominating region in the market, driven by the large patient pool, rising healthcare expenditure, and growing awareness about liver diseases in countries such as China and India.
– Key players operating in the global Ursodeoxycholic Acid market include Dipharma Francis Srl, ERREGIERRE S.p.A., Grindeks, Industria Chimica Emiliana, Mitsubishi Tanabe Pharma Corporation, Zhongshan Belling Biotechnology Co., Glenmark Pharmaceutical Limited, Abil Chempharma Private Limited, Biotavia Labs Pvt Ltd, Daewoong Bio Inc., PharmaZell GmbH, and Suzhou Tianlu Bio-pharmaceutical Co., Ltd. These players focus on research and development activities, strategic collaborations, and mergers and acquisitions to strengthen their market position.
