Ursodeoxycholic acid (UDCA) has become an integral part of treatment procedures for various digestive disorders and liver diseases. As the therapeutic applications of UDCA continue to expand, the ursodeoxycholic acid market has been sustaining high revenue growth. Ursodeoxycholic acid is a bile acid produced by the liver that aids in the digestion of fats. It is prescribed for conditions such as primary biliary cholangitis (PBC), gallstones, liver cirrhosis, fatty liver, scleroderma and cystic fibrosis. With the growing burden of digestive issues and liver diseases worldwide, the demand for UDCA drugs has witnessed a consistent uptick.
The Global Ursodeoxycholic Acid Market is estimated to be valued at US$ 737.8 Mn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Ursodeoxycholic Acid market are Philips, GE Healthcare, Medtronic, Siemens Healthineers, Stryker, Abbott, Boston Scientific, Johnson & Johnson, Canon Medical Systems, Baxter.
The increasing prevalence of obesity and unhealthy lifestyles has heightened the risks of liver diseases, gastrointestinal abnormalities and gallbladder conditions. This has steadily driven the need for UDCA formulations for the treatment and management of such disorders.
Major players in the UDCA market have enhanced their global footprint through expansions, partnerships and new product launches. They are focusing on emerging countries in Asia Pacific and Latin America which exhibit high market potential.
Market Key Trends
One of the key trends witnessed in the Ursodeoxycholic Acid Market Size is the rising adoption of UDCA for new therapeutic indications. Various clinical trials are investigating the efficacy of UDCA in conditions like diabetes, cardiovascular diseases and inflammation. If found effective, it could open lucrative avenues for market players. Another trend is the emergence of combination therapy drugs where UDCA is combined with other agents for enhanced treatment outcomes in conditions like PBC. This is expected to boost the market demand.
Porter’s Analysis
Threat of new entrants: Low barriers to entry given generic nature of products however established brands and relationships make entry difficult.
Bargaining power of buyers: Buyers have moderate to high bargaining power as ursodeoxycholic acid has few substitutes and demand for treatment of liver and gallbladder diseases is inelastic.
Bargaining power of suppliers: Suppliers have moderate bargaining power given the requirement of specialized machinery for manufacturing however presence of substitutes keeps their power in check.
Threat of new substitutes: Threat is moderate as companies are engaged in developing novel molecules with improved efficacy and reduced side effects.
Competitive rivalry: Intense as major players compete on pricing and bring innovations in drug delivery.
Geographical concentration of market: North America currently holds largest share of over 35% of the global market due to higher awareness and diagnosis rates of liver diseases.
Fastest growing region: Asia Pacific is poised to be the fastest growing region during the forecast period owing to rising geriatric population, increasing healthcare expenditure and growing prevalence of lifestyle diseases.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it