April 24, 2024
Ursodeoxycholic Acid Market

Ursodeoxycholic Acid Market is Estimated to Witness High Growth Owing to Increasing Demand for Liver Disease Treatments.

Ursodeoxycholic acid, also known as ursodiol, is a bile acid produced naturally in the liver that is primarily used for the medical treatment of liver diseases and gallstones. It is prescribed to dissolve cholesterol gallstones and improve liver function in individuals suffering from conditions like primary biliary cirrhosis. Ursodeoxycholic acid helps reduce the toxicity associated with other bile acids by inhibiting their absorption and promoting their excretion. The increasing prevalence of liver diseases worldwide due to rising obesity, diabetes, and fatty liver disease has generated significant demand for ursodeoxycholic acid products in recent years.

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 from 2024 to 2031.

Key Takeaways

Key players operating in the Ursodeoxycholic Acid are Philips, GE Healthcare, Medtronic, Siemens Healthineers, Stryker, Abbott, Boston Scientific, Johnson & Johnson, Canon Medical Systems, Baxter.

The rising awareness regarding liver health and growing adoption of ursodeoxycholic acid therapeutics for indications like primary biliary cholangitis and non-alcoholic fatty liver disease present lucrative opportunities in the market.

Major players are expanding their global footprint by establishing manufacturing sites in high growth regions to cater to the increasing demand. For instance, in 2021, Suzhou Tianlu expanded its production facilities in China.

Market Drivers

The increasing prevalence of chronic liver diseases due to changing lifestyle and dietary habits is a key factor driving the Ursodeoxycholic Acid Market Growth. It is estimated that diseases like NAFLD affect 25% of the global population. Ursodeoxycholic acid is recommended as the first-line pharmacotherapy for treating PBC. Moreover, the growing geriatric population also contributes to market growth as liver disorders are more common in older age groups.

PEST Analysis

Political: The ursodeoxycholic acid market is regulated by the European Medical Agency, U.S. Food and Drug Administration and other regulatory bodies across different regions. These agencies regulate the manufacturing, distribution and clinical use of ursodeoxycholic acid drugs to ensure patient safety.

Economic: The ursodeoxycholic acid market has seen steady growth over the past decade driven by rising healthcare spending globally and increasing demand for innovative treatment options for liver diseases. The ongoing COVID-19 pandemic has also supported market growth as ursodeoxycholic acid is under investigation for managing complications in COVID-19 patients.

Social: With growing awareness about various liver conditions through health campaigns and rising life expectancy, there is increased social emphasis on having access to effective treatment solutions like ursodeoxycholic acid drugs. This helps address the large disease burden of chronic liver diseases.

Technological: Players in the market are focusing on developing novel drug delivery technologies and formulations like microencapsulation and controlled-release to improve the efficacy, safety profile and patient compliance of ursodeoxycholic acid therapy. Some companies are also exploring the potential of combining ursodeoxycholic acid with other antifibrotic agents.

The North American region represents the largest market for ursodeoxycholic acid in terms of value currently. This is due to the rising prevalence of liver diseases, growing obese and geriatric population susceptible to such conditions, and availability of advanced healthcare facilities in the region.

The Asia Pacific region is forecasted to report the fastest growth in the ursodeoxycholic acid market during the analysis period due to improving access to healthcare, increasing healthcare expenditure, large patient bases, and growing focus of market players on these emerging markets.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it