by Primary sclerosing cholangitis (PSC) is a chronic hepatic disease characterized by progressive inflammation and fibrosis of both intrahepatic and extrahepatic bile ducts. The disease has no known cause and no approved medical therapies. PSC often occurs in association with inflammatory bowel disease, particularly ulcerative colitis. The standard treatment approach for PSC involves symptomatic care and monitoring for complications such as cirrhosis, liver failure, and cholangiocarcinoma that may require liver transplantation. However, rapid advancements are being witnessed in PSC therapeutics with several pipeline drugs under clinical trials and research.
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 Dynamics
Growth in the global primary sclerosing cholangitis market is predominantly driven by the rising research and development activities in PSC therapeutics. Several pharmaceutical companies are developing novel drug candidates targeting multiple disease pathways. For instance, therapies such as obeticholic acid by Intercept Pharmaceuticals and bezafibrate by Dr. Falk Pharma are in late-stage clinical trials. Additionally, targeted therapies involving gene silencing and stem cell therapies are also under active research which is anticipated to bring paradigm shift in PSC treatment.
Furthermore, rising awareness about the disease among patients and physicians is contributing to early diagnosis and increased treatment seeking rate. Various government and non-government organizations are conducting awareness programs about symptoms and management of PSC. This is expected to facilitate expansion of the primary sclerosing cholangitis market during the forecast period.
Segment Analysis
The Primary Sclerosing Cholangitis Market Demand can be segmented based on disease type, treatment, end user, and region. Based on disease type, the market can be categorized into asymptomatic PSC and symptomatic PSC. The symptomatic PSC segment currently dominates the market as this type of disease shows various clinical manifestations and requires treatment. Based on treatment, the primary sclerosing cholangitis market can be divided into ursodeoxycholic acid, obeticholic acid, antibiotic therapy, bile acid therapy, endoscopic therapy, and liver transplantation. Currently, ursodeoxycholic acid dominates the market as it is the first line of treatment for PSC and shows promising results.
PEST Analysis
Political: Regulations regarding drug innovation, drug pricing and healthcare reforms impact the primary sclerosing cholangitis market. Favorable governmental reimbursement policies may help drive market growth.
Economic: Growing per capita healthcare spending worldwide and rising awareness about rare diseases have contributed to market expansion. However, high treatment costs pose challenges.
Social: Increased risk of colorectal cancer in PSC patients and its impact on quality of life drives research on new therapies. Strong patient advocacy groups help boost disease awareness.
Technological: Advancements in targeted drug delivery, gut microbiome research and precision medicine offer scope for personalized PSC therapies with fewer side effects. Development of novel biomarkers aids early diagnosis and treatment monitoring.
Key Takeaways
The global primary sclerosing cholangitis market is expected to witness high growth over the forecast period owing to rising prevalence of IBD and increasing research focused on developing innovative therapies. 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.
North America currently dominates the market due to high awareness, robust healthcare infrastructure and presence of prominent players.
Some of the major players operating in the primary sclerosing cholangitis market are Acorda Therapeutics, Inc., Gilead Sciences, Inc., NGM Biopharmaceuticals, Inc., Intercept Pharmaceuticals, Inc. Key players are focused on developing new products targeting underlying disease mechanisms to address unmet needs and improve patient outcomes. Increasing collaboration between industry and academia is also expected to boost market innovations.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
