July 21, 2024
Primary Sclerosing Cholangitis Market

The global Primary Sclerosing Cholangitis Market is Propelled by rising disease prevalence

Primary sclerosing cholangitis (PSC) is a chronic, progressive, cholestatic liver disease characterized by inflammation and progressive fibrosis of both the intra- and extrahepatic bile ducts. The disease often leads to cirrhosis and liver failure requiring liver transplantation. It is estimated that over 50,000 individuals in North America and Europe suffer from PSC. Current treatments for PSC are limited and aim to alleviate symptoms and prevent complications like cirrhosis. Ursodeoxycholic acid and antibiotics are commonly prescribed to slow disease progression.

The global Primary Sclerosing Cholangitis Market is estimated to be valued at US$ 1.98 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Increasing disease prevalence has been a key factor propelling growth of the primary sclerosing cholangitis market. According to the American College of Gastroenterology, the prevalence of PSC has doubled in recent decades and ranges from 0 to 16.2 cases per 100,000 adults across the globe. Another study found that PSC was diagnosed in about 1 in 10,000 adults in Western countries as of 2015. Genetic and environmental factors are considered responsible for the rise in PSC cases. While the exact cause remains unknown, early diagnosis and treatment of PSC is crucial to slow disease progression and manage complications like cirrhosis of the liver. This has spurred research into new drugs targeting different disease mechanisms, driving demand in the global primary sclerosing cholangitis market during the forecast period.

SWOT Analysis

Strength: The rising awareness about Primary sclerosing cholangitis (PSC) diagnosis and treatment options acts as a major strength. Also, the increasing research activities for the development of novel treatment options boost the market growth.

Weakness: Delayed diagnosis and lack of approved drug therapies pose significant challenges in the PSC market. Moreover, limited understanding of disease pathogenesis and absence of approved drugs hamper the market growth.

Opportunity: Favorable government funding and initiatives for rare disease research present lucrative opportunities. Additionally, the emergence of novel treatment therapies such as fecal microbiota transplantation (FMT) offers business opportunities.

Threats: High treatment cost associated with PSC management threatens the market growth. Moreover, strict regulatory requirements for drug approval delay the launch of potential therapies.

Key Takeaways

The global Primary Sclerosing Cholangitis Market Demand is estimated to be valued at US$ 1.98 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030.

North America is anticipated to dominate the global Primary sclerosing cholangitis market over the forecast period owing to factors such as rising prevalence of PSC, increasing healthcare expenditure, presence of major market players, and growing research funding. According to a study, the estimated prevalence of PSC in the United States ranges from 5.3–16.2 cases per 100,000 individuals.

Key players operating in the Primary Sclerosing Cholangitis market are Acorda Therapeutics, Inc., Gilead Sciences, Inc., NGM Biopharmaceuticals, Inc., Intercept Pharmaceuticals, Inc., Dr. Falk Pharma GmbH, Allergan Plc., Shire Plc., Durect Corporation, Conatus Pharmaceuticals, Inc., Sirnaomics, Inc., and Shenzhen HighTide Biopharmaceutical Ltd. Major players are involved in new product launches, acquisitions, and collaborations to strengthen their market position.

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