July 22, 2024
Primary Sclerosing Cholangitis Market

Primary Sclerosing Cholangitis Market Driven by Increasing Prevalence of Inflammatory Bowel Disease

Primary sclerosing cholangitis (PSC) is a chronic inflammatory disease of bile ducts that causes scarring and narrowing of bile ducts both inside and outside the liver. PSC most commonly occurs in people who also have inflammatory bowel disease (IBD), such as ulcerative colitis and Crohn’s disease. PSC develops when bile duct cells are attacked by the immune system causing damage to bile duct walls. This leads to inflammation and scarring, reducing bile flow in the liver. Symptoms include jaundice, itchy skin, abdominal pain and swelling. PSC is generally progressive and has no cure currently. Treatment options focus on relieving symptoms, preventing progression of disease, and managing other conditions that may co-occur. The growing prevalence of IBD has emerged as a major driver for the primary sclerosing cholangitis market as it is associated with 70-80% of PSC cases.

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 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the primary sclerosing cholangitis market is the growing research and development activities. There is currently no approved drug for PSC and available treatment options only focus on symptom management. Several drugs are under clinical trials to develop effective treatment for PSC. For instance, Bezafibrate, an existing drug used to treat high cholesterol, is under Phase 3 clinical trials to evaluate its efficacy in treating PSC. Other emerging drugs under clinical trials includeINT 767, Cilofexor, Ezetimibe, and Obeticholic Acid. Development of effective treatment options through ongoing research could potentially drive significant growth of the primary sclerosing cholangitis market during the forecast period.

Porter’s Analysis

Threat of new entrants: The threat is moderate as substantial capital investment, specialized production and distribution requirements and stringent regulations pose challenges for new entrants.

Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many product options available from various manufacturers.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are multiple component suppliers and switching costs are low.

Threat of new substitutes: The threat is low as there are limited product substitutes for Primary Sclerosing Cholangitis treatment.

Competitive rivalry: The competitive rivalry in the market is high owing to the presence of many private label and branded product offerings.

Key Takeaways

Global Primary Sclerosing Cholangitis Market Demand is estimated to be valued at US$ 1.98 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.

The global Primary Sclerosing Cholangitis market is expected to witness high growth. The market in North America is expected to dominate the global market during the forecast period.

Abbott Point of Care Inc., Cornley Hi-tech Co., LTD, Radiometer Medical ApS, EDAN Instruments, Inc., ERBA Diagnostics Mannheim GmbH, F Hoffman La Roche Ltd., Fortress Diagnostics, Instrumentation Laboratories, LifeHealth, Medica Corporation, Nova Biomedical Corporation, OPTI Medical Systems, Inc., Sensa Core and Siemens Medical Solutions USA, Inc.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it