The Primary Sclerosing Cholangitis Market is estimated to be valued at US$ 3,604.7 Mn in 2022 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Primary sclerosing cholangitis (PSC) is a rare disease characterized by chronic inflammation and scarring of the bile ducts within and outside of the liver. Left untreated, this disease can lead to complications like cirrhosis, liver failure, and even liver cancer. Current treatment options aim to relieve symptoms and slow disease progression. This includes medications to dissolve bile salts, antibiotics to treat infection, and in severe cases, surgery to drain bile or replace the liver.
Market Dynamics:
The Primary Sclerosing Cholangitis market is driven by increasing demand for data security and transparency in healthcare systems. As PSC is a rare condition, healthcare providers are investing in blockchain technology to securely store patient health records and share clinical trial data. This allows for easier collaboration between research institutes. At the same time, blockchain improves transparency by giving patients ownership and control over their personal medical information.
Another key growth factor is the rising PSC disease prevalence globally. Environmental factors like pollutants and certain infections are contributing to higher caseloads that require long-term treatment and management. This will support the ongoing demand for drugs and medical devices in the market over the forecast period.
Segment Analysis
The global primary sclerosing cholangitis market is segmented into type, therapy, and end user. Based on type, the market is bifurcated into large duct PSC and small duct PSC. The large duct PSC segment currently dominates the market due to higher prevalence and incidence rate of the disease among the target patient population. Based on therapy, the market is categorized into ursodeoxycholic acid, obeticholic acid, fibric acid derivatives, antibiotics, and others. The ursodeoxycholic acid segment holds the largest share as it is the first line treatment for symptomatic PSC patients.
PEST Analysis
Political: The laws and legislations related to healthcare expenditure, drug development and approvals impact the market. For instance, favorable regulations encourage the development of novel therapies for rare diseases like PSC.
Economic: Growing economies provide better access to healthcare and higher treatment rates. The rising healthcare expenditure per capita also contributes to market growth.
Social: Increased awareness regarding early disease diagnosis and availability of effective treatments drive patients to seek proper care. A strong support system encourages patients’ adherence to long term therapies.
Technological: Advancements in diagnostic tools facilitate early and accurate diagnosis. Novel drug delivery systems and targeted therapies provide improved treatment outcomes.
Key Takeaways
Global Primary Sclerosing Cholangitis Market Size was valued at US$ 3,604.7 Mn in 2022 and is expected to reach US$ 6,542.9 Mn by 2030, expanding at a CAGR of 4.6% during the forecast period. The rising prevalence of inflammatory bowel diseases (IBD) that increases the risk of PSC, along with improved diagnosis is fueling the market growth.
Regionally, North America dominated the global market in 2022 and is projected to maintain its lead till 2030. This can be attributed to the growing incidence of PSC, availability of advanced healthcare facilities, and presence of major market players in the region. Europe stood as the second largest regional market driven by rising healthcare expenditure and government support for rare disease research.
Key players operating in the primary sclerosing cholangitis market are Intercept Pharmaceuticals, Inc., Dr. Falk Pharma GmbH, Gilead Sciences, Inc., HighTide Therapeutics Inc., NGM Biopharmaceuticals, Cymabay Therapeutics, Durect Corporation, Conatus Pharmaceuticals, and others. These companies are focused on developing novel treatment options through organic and inorganic growth strategies 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
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