Primary sclerosing cholangitis (PSC) is a chronic, progressive liver disease characterized by inflammation and scarring of the bile ducts within and outside of the liver. The disease causes bile ducts to slowly become scarred and narrowed over time, leading to bile accumulation in the liver. The condition causes chronic liver disease which can progress to cirrhosis and liver failure. Currently, there are no universally effective medical therapies for PSC, and the only definitive treatment option is liver transplantation.
The global primary sclerosing cholangitis market is estimated to be valued at US$700 million in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of primary sclerosing cholangitis (PSC) has been a major factor driving the growth of the global primary sclerosing cholangitis market size over the forecast period. According to recent studies, the prevalence of PSC is estimated to be between 14-16 cases per 100,000 individuals. Countries such as United States and Western Europe have reported the highest cases of PSC globally. The rising number of patients suffering from PSC is expected to fuel the demand for effective treatment options and drugs during the forecast timeframe. Furthermore, ongoing clinical trials evaluating new drug candidates and treatment modalities for PSC are also expected to support the market growth. However, lack of cure and limited treatment options remain major challenges.
SWOT Analysis
Strength: Early disease diagnosis and availability of treatment options can improve patient outcomes. Advancements in diagnostic techniques aid accurate diagnosis.
Weakness: Lack of approved drugs for disease modification and scarcity of clinical data due to rarity of disease pose challenges. Nonspecific symptoms make early diagnosis difficult.
Opportunity: Growing research into disease etiology and novel treatment targets present opportunities. Increasing healthcare expenditure in emerging nations boosts market growth.
Threats: High treatment costs and lack of reimbursement in some regions can hinder market expansion. Poor prognosis and uncertainty around long term outcomes remain concerns.
Key Takeaways
The global Primary Sclerosing Cholangitis market is expected to witness high growth. The global primary sclerosing cholangitis market is estimated to be valued at US$700 million in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023-2030.
North America currently dominates the market and is expected to continue its dominance over the forecast period. This is attributed to growing research activities for developing novel treatment options and high healthcare expenditure in the region. The Asia Pacific region is anticipated to grow at the fastest pace owing to rising incidence of autoimmune diseases, growing medical tourism, and increasing investment by key players.
Key players
Key players operating in the Primary Sclerosing Cholangitis market are Allergan, Dr. Falk Pharma, Intercept Pharmaceuticals, Takeda Pharmaceuticals, NGM Biopharmaceuticals, CymaBay Therapeutics.
Allergan currently markets ursodeoxycholic acid (ursodiol) under the brand name Actigall for treating Primary Sclerosing Cholangitis. Intercept Pharmaceuticals is developing obeticholic acid for treatment and currently enrolling patients in a global Phase 3 clinical trial. NGM Biopharmaceuticals is progressing its lead candidate NGM282 currently in Phase 2 trials for nonalcoholic steatohepatitis and Primary Sclerosing Cholangitis indications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
