by Primary Sclerosing Cholangitis (PSC) is a rare chronic liver disease characterized by inflammation and scarring of the bile ducts inside and outside the liver. PSC is commonly associated with Inflammatory Bowel Disease (IBD), primarily ulcerative colitis. Products for PSC aims to improve liver function by reducing bile duct inflammation and destruction.
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:
The increasing prevalence of IBD, primarily ulcerative colitis is a major driver for the growth of the PSC market. PSC often develops in patients who have IBD, especially ulcerative colitis. Approximately 70-80% of PSC patients also have ulcerative colitis. According to the Crohn’s & Colitis Foundation, it is estimated that affects as many as 1 million Americans. Moreover, the prevalence of IBD is also increasing in developing nations due to adoption of western lifestyle. This rising IBD patient pool susceptible to developing PSC is expected to propel the market growth over the forecast period.
SWOT Analysis
Strength: The market has strong growth potential due to increasing prevalence of primary sclerosing cholangitis and lack of approved drug treatments.
Weakness: High unmet clinical needs remains as a challenge due to complex etiology and heterogeneous nature of the disease.
Opportunity: Emergence of novel targeted therapies and drug candidates in pipeline offers lucrative opportunities.
Threats: Stringent regulations for drug approval and high costs associated with drug development may hamper market growth.
Key Takeaways
The global primary sclerosing cholangitis market is expected to witness high growth at a CAGR of 7.6% during the forecast period of 2023-2030. The market was valued at US$ 1.98 Mn in 2023 and is anticipated to reach US$ 3.42 Mn by 2030.
Regional analysis
North America dominates the global market and is expected to maintain its lead during the forecast period. Higher disease prevalence and growing patient awareness are major factors driving the regional market. Presence of key market players and robust pipeline drugs offer potential for market growth in the region.
Key players
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
