The global balsalazide market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Balsalazide is an anti-inflammatory drug. It is converted in the body to mesalamine and works by reducing the prevalence of bowel inflammation such as Crohn’s disease and ulcerative colitis, rectal bleeding, and stomach pain. According to the data published by National Center for Biotechnology Information in 2021, ulcerative colitis is estimated to have an incidence of 9 to 20 cases per 10,000 persons annually. Similarly, its prevalence is estimated at 156 to 269 cases per 10,000 persons annually. Moreover, ulcerative colitis has a bimodal pattern of incidence. According to the same source, the main peak of incidence occurs between the age of 15 and 30 years, and a smaller peak of incidence occurs between the age of 50 and 70 years. Thus, the rise in the incidence of ulcerative colitis across the globe is anticipated to drive the demand of the global balsalazide market during the forecast period.
According to the data published by Crohn’s & Colitis Foundation of America (CCFA) in 2019, approximately 1.6 million Americans suffer from Inflammatory Bowel Disease (IBD) out of which 80000 children are expected to have IBD. Further, 70,000 new cases of IBD are diagnosed in the US annually. Moreover, Crohn’s disease and ulcerative diseases are chronic illnesses and changes are likely to occur over time. For instance, as per the same source, 50.0% of the patients suffering from Crohn’s disease will have mild disease over the next five years. 45% of those will remain relapse-free over the next year and 35.0% will have one or two relapses. Thus, for a Crohn’s disease patient in remission, the relapses rate at one, two, five, and ten years are estimated at 20.0%, 40.0%,67.0%, and 76.0% respectively. Thus, the rise in the prevalence of IBD across the globe is anticipated to drive the growth of the balsalazide market globally.
Looking towards the demand for balsalazide key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in March 2021, Sanofi SA agreed to divest an integrated portfolio of anti-inflammatory drugs to Fidia Farmaceutici. The agreement covers the registrations, trademarks, and related commercial rights of products including non-steroidal anti-inflammatory drugs across Europe and the emerging market. This agreement is aimed at streamlining and simplifying its portfolio by enhancing profitability.
Further, in May 2021, Bristol Myers Squibb has received the US FDA approval for Zeposia (ozanimod), for the treatment of adults with moderately to severely active ulcerative colitis (UC), a chronic IBD. Moreover, the Zeposia 360 degree support program will facilitate access to Zeposia for appropriate patients with ulcerative colitis (UC). In addition, in June 2020, Takeda pharmaceuticals announced that the USFDA has approved the company’s submission for its biological manufacturing facility in Brooklyn, for the production of Entyvio (vedolizumab) drug substance. Entyvio is used for the treatment of gastrointestinal diseases such as ulcerative colitis and Crohn’s disease. Thus, the establishment of a manufacturing facility aimed to serve patients suffering from moderately to severly active ulcerative coltis and Crohn’s disease in the US and globally. Therefore, such launches coupled with approvals are anticipated to drive the growth of the global balsalazide market during the forecast period.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Salix Pharmaceuticals (Bausch Health),Bristol-Myers Squibb Co., and Takeda Pharmaceutical Co Ltd among others .
A full report is available at: https://orionmarketreports.com/balsalazide-market/92632/
Global Balsalazide Market Report by Segment
By Type
- Capsules
- Tablets
By Application
- Hospital
- Drug store
- Online Pharmacy
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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