by 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 Overview:
Primary sclerosing cholangitis (PSC) is a rare, chronic, progressive liver disease characterized by inflammation and scarring (fibrosis) of the bile ducts within the liver and sometimes the bile ducts outside the liver. As the disease progresses, bile ducts are damaged and destroyed over time, leading to liver cirrhosis and liver failure if left untreated. PSC most commonly affects men during their 30s and 40s. Symptoms of PSC include itching, fatigue, abdominal pain, and jaundice. If the disease progresses to cirrhosis or liver cancer, a liver transplant may be needed. Currently there is no cure for PSC. Treatment focuses on relieving symptoms and slowing disease progression.
Market Key Trends:
Since ursodeoxycholic acid (UDCA) provides limited benefits for many patients, there is significant interest in developing novel therapies. Some pipeline drugs in clinical trials include obeticholic acid, eltrombopag, cenicriviroc, and emricasan. In addition, fecal microbiota transplantation is being explored as a potential treatment approach. With no effective cure currently available, continued research emphasizing new treatment strategies is expected to provide potential future solutions and drive market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low due to high capital requirements for R&D and manufacturing. Established players have significant economies of scale and brand recognition.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of generic drugs. Buyers can negotiate on price with suppliers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are few suppliers for Active Pharmaceutical Ingredients (APIs) and other raw materials. Suppliers have a cost advantage due to economies of scale.
Threat of new substitutes: The threat of new substitutes is low as there are limited treatment options available for Primary Sclerosing Cholangitis.
Competitive rivalry: The competitive rivalry is high among existing players due to their large product portfolios and robust pipelines. Players compete based on product innovation and pricing.
Key Takeaways:
Primary Sclerosing Cholangitis market Growth is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing research & development activities and rising incidence of inflammatory bowel diseases.
Regional analysis: North America is expected to dominate the global Primary Sclerosing Cholangitis market over the forecast period. This is attributed to growing prevalence of autoimmune diseases, rising awareness about rare diseases, and presence of major market players in the region. Europe is expected to exhibit a steady growth rate during the forecast period.
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. Key players are focused on product approvals and launch of novel therapies to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
