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:
Improved diagnosis and treatment options have accelerated the growth of primary sclerosing cholangitis market over the forecast period. Conventionally, PSC was difficult to diagnose due to non-specific symptoms and lack of specific biomarkers. However, recent advancements in magnetic resonance cholangiopancreatography (MRCP) have improved the visualization of bile ducts, thereby aiding early diagnosis. Moreover, various treatment strategies are being evaluated targeting different mechanisms such as anti-fibrotic, anti-inflammatory, anti-cholangiocarcinoma etc. Ursodeoxycholic acid was earlier the only approved drug but recent clinical trials have demonstrated efficacy of agents such as obeticholic acid, bezafibrate, cenicriviroc and elobixibat. These improving diagnostic accuracy and evolving treatment landscape are expected to drive the primary sclerosing cholangitis market during the forecast period.
Segment Analysis
The primary sclerosing cholangitis market can be segmented into drug type, sales channel, and geography. Based on drug type, the market is divided into ursodeoxycholic acid, obeticholic acid, combination therapies, and others. Among these, the ursodeoxycholic acid segment accounted for the largest market share in 2023 due to its popularity as the first line of treatment among patients. By sales channel, the market is classified into hospital pharmacies, retail pharmacies, online pharmacies. The hospital pharmacies segment holds the largest share owing to increasing hospital visits from patients suffering primary sclerosing cholangitis.
Key Takeaways
The global Primary Sclerosing Cholangitis Market Demand is expected to witness high growth. 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.
The North America region is expected to dominate the market over the forecast period. This is attributed to factors such as rising prevalence of primary sclerosing cholangitis, growing diagnosis rates, increasing healthcare expenditure, and availability of advanced healthcare infrastructure 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. Acorda Therapeutics, Inc. is one of the leading players in the market. It offers Inbrija, which is used to treat OFF episodes associated with Parkinson's disease.
For more details on the report, Read- https://perfectinsights.blogspot.com/2023/12/primary-sclerosing-cholangitis-is.html
