Ursodeoxycholic acid is a bile acid produced by the liver that helps digest and absorb fats and fat-soluble vitamins. It is used as a prescription drug to treat liver problems such as primary biliary cholangitis (PBC). It solubilizes cholesterol in bile and may help improve bile flow. Ursodeoxycholic acid is available as a generic medication and prescribed to dissolve gallstones made of cholesterol. It helps in preventing gallstones from forming and dissolving small gallstones that are already present. It comes in immediate-release capsule form to be taken by mouth.
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 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The ursodeoxycholic acid market is witnessing high growth due to rising prevalence of biliary and liver diseases and expanding applications of ursodeoxycholic acid. According to the PBC Foundation, primary biliary cholangitis affects around 1 in 1,000 women. Innovation in drug delivery systems and development of novel analogs of ursodeoxycholic acid with improved efficacy through biotech interventions are also fueling the market growth. Nanotechnology-enabled formulations that offer targeted release are being explored. Companies are investing in R&D to develop newer ursodeoxycholic acid formulations having applications beyond liver diseases.
Porter’s Analysis:
Threat of new entrants: New entrants in the Ursodeoxycholic Acid market face high threat due to the presence of established brands and the requirement of high capital to set up manufacturing facilities.
Bargaining power of buyers: Buyers have high bargaining power due to the presence of numerous suppliers and substitute products in the market.
Bargaining power of suppliers: A few companies account for the majority of supply, thus giving them strong bargaining power over buyers.
Threat of new substitutes: Substitutes such as Fibrates, Omega-3 fatty acids pose low threat currently due to Ursodeoxycholic Acid’s popularity and performance.
Competitive rivalry: The global Ursodeoxycholic Acid market is highly competitive due to the presence of key established players.
Key Takeaways:
The Global Ursodeoxycholic Acid Market Size is expected to witness high growth, exhibiting CAGR of 10.% over the forecast period, due to increasing prevalence of gallstones and liver diseases.
Regional analysis: North America dominates the global Ursodeoxycholic Acid market currently due to rising awareness and healthcare expenditure. Asia Pacific is expected to exhibit the fastest growth over the forecast period owing to increasing patient pool and healthcare investments in countries like China and India.
Key players: Key players operating in the Ursodeoxycholic Acid market are PharmaZell, ABIL CHEMPHARMA PRIVATE LIMITED, ICE, Grindeks, Suzhou Tianlu Bio-pharmaceutical Co.,Ltd, ARCELOR CHEMICALS PRIVATE LIMITED, and Dipharma Francis S.r.l. PharmaZell leads globally with highest production capacity.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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