Ursodeoxycholic acid (UDCA) is a naturally occurring bile acid produced by the liver that is primarily used for dissolving gallstones and improving liver function. It has also shown to be beneficial in treating liver diseases such as primary biliary cirrhosis and primary sclerosing cholangitis. The global ursodeoxycholic acid market is driven by increasing prevalence of liver diseases worldwide along with rising awareness regarding the health benefits of UDCA in treatment of chronic liver disorders.
The global ursodeoxycholic acid market is estimated to be valued at US$ 640.45 Mn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity: The opportunity to treat liver diseases is expected to drive the growth of the ursodeoxycholic acid market during the forecast period. UDCA has shown therapeutic benefits in chronic liver diseases by reducing cholestasis or toxic bile accumulation in the liver. It acts as a hydrophilic molecule that protects cholangiocytes (bile duct cells) from toxic damage. Owing to its liver protective properties, UDCA is increasingly being used in treatment of primary biliary cirrhosis, primary sclerosing cholangitis and other chronic liver disorders. With rising prevalence of nonalcoholic fatty liver disease and no approved drug therapy for NAFLD, UDCA presents a significant market opportunity to treat liver conditions affecting a large patient population worldwide. Porter's Analysis Threat of new entrants: The ursodeoxycholic acid market is moderately difficult to enter due to high capital requirements for manufacturing infrastructure and R&D. However, the growing demand is likely to attract new players. Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes. However, established players have strong ties with end-users. Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of alternative sourcing options and suppliers. Threat of new substitutes: Substitutes like betaine and ursodiol pose a mild threat. However, ursodeoxycholic acid holds an advantage due to its effectiveness. Competitive rivalry: The market is moderately competitive due to the presence of established brands. However, pricing competition is likely to intensify as demand grows. SWOT Analysis Strengths: Growing prevalence of liver diseases and strong R&D capabilities of key players. Weaknesses: High manufacturing costs and stringent regulatory environment. Opportunities: Untapped growth potential in developing nations and increasing awareness of ursodeoxycholic acid benefits. Threats: Threat from substitutes and pricing pressures from generic drugs. Key Takeaways The Global Ursodeoxycholic Acid Market Size is expected to witness high growth over the forecast period of 2023 to 2030 supported by the growing prevalence of digestive and liver diseases. The global Ursodeoxycholic Acid Market is estimated to be valued at US$ 640.45 Mn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030. Regionally, North America commanded the largest share of the market in 2023 due to the high healthcare expenditure and technological advancements in the region. Asia Pacific is projected to be the fastest growing region during the forecast period driven by factors such as the rising geriatric population, improving healthcare infrastructure and growing awareness about GI diseases. Key players operating in the ursodeoxycholic acid market are Fender Musical Instruments Corporation, Gibson Brands, Ernie Ball Inc., GHS Strings, C. F. Martin & Company Inc., Dunlop Manufacturing, Inc., Dean Markley USA, Inc., Kistron Co., Ltd., Rotosound Manufacturing Ltd., and DR Handmade Strings. These established brands have strong distribution networks and manufacturing capabilities allowing them to cater to the growing demand. Get more insights on this topic: https://www.marketwebjournal.com/ursodeoxycholic-acid-market-insights/
0 Comments
|
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |