Global Ursodeoxycholic Acid Market to Witness High Growth
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.
Key Takeaways:
The Global Ursodeoxycholic Acid Market Growth is expected to witness high, exhibiting CAGR of 10% over the forecast period, due to increasing prevalence of chronic liver diseases. Mounting obesity burden and associated fatty liver diseases are major drivers for ursodeoxycholic acid demand.
Regional analysis:
North America dominated the global market in 2023 and is anticipated to continue its dominance during the forecast period. This is attributed to growing NAFLD and NASH patient base in the US. Asia Pacific is projected to witness the fastest growth owing to rising healthcare expenditure and growing medical tourism in major Asian countries.
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, Dipharma Francis S.r.l. Key players are focused on product approvals for additional therapeutic indications and expanding geographic footprint through collaborations with regional distribution partners.
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