by Ursodeoxycholic acid is a bile acid that helps dissolved cholesterol and protects the liver. It is used to treat liver diseases such as primary biliary cholangitis.
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, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising demand for treating liver diseases: Ursodeoxycholic acid is majorly used to treat liver diseases such as primary biliary cholangitis. According to a 2019 study published by the American Liver Foundation, it was estimated that around 1 in 200 Americans suffer from Primary Biliary Cholangitis. Increasing prevalence of liver diseases is raising the demand for ursodeoxycholic acid, which acts as a solubilizing agent for cholesterol gallstones and helps dissolve gallstones. This rising demand acts as a key driver for the growth of the global ursodeoxycholic acid market over the forecast period.
SWOT Analysis
Strength: Ursodeoxycholic acid has therapeutic efficacy for various liver diseases and digestive disorders. It is established as a safe medication for treating gallstones and primary biliary cholangitis.
Weakness: The manufacturing process of ursodeoxycholic acid requires complex chemical synthesis which increases production costs. Stringent regulations also add to the compliance burden for manufacturers.
Opportunity: Rising incidence of liver conditions globally is driving the clinical usage of ursodeoxycholic acid. It is also being evaluated as an adjunct treatment in newer disease areas like cystic fibrosis and nonalcoholic fatty liver disease.
Threats: Generic competition threatens branded variants of ursodeoxycholic acid in major markets. Stringent regulatory pathways for novel indications pose developmental challenges.
Key Takeaways
The Global Ursodeoxycholic Acid Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 640.45 Mn by 2023 registering a CAGR of 3.5% during the slated time frame.
Regional analysis
North America currently dominates the ursodeoxycholic acid market owing to the rising prevalence of chronic liver diseases and technological advances for efficient drug production. Within the region, the US market accounts for the largest revenue share due to high adoption of branded drugs and established reimbursement policies. Asia Pacific is anticipated to be the fastest growing regional market driven by increasing healthcare spending and expansion of key manufacturers in countries such as India and China.
Key players
Key players operating in the ursodeoxycholic acid market are Fujizakiyo Co. LTD., Daewoong Chemical, Zhongshan Xinshidaruoyi Biotechnology Co. Ltd., Suzhou Ruiqi Pharmaceutical Co. LTD., Lannett Company, Inc., Grindeks JSC, and Cardinal Health, Inc. Fujizakiyo Co. LTD. dominates the market with its wide range of branded and generic formulations. It aims to strengthen its presence through strategic acquisitions and new drug development programs.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
