Primary Sclerosing Cholangitis Market Growth Expands Opportunities

Sneha

Primary Sclerosing Cholangitis Market Growth Expands Opportunities

The global 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 chronic and rare autoimmune liver disease characterized by inflammatory destruction and fibrosis of both intrahepatic and extrahepatic bile ducts leading to bile duct stenosis, cirrhosis and liver failure. If left untreated, PSC can eventually lead to biliary cirrhosis and liver cancer. Current treatments aim to relieve symptoms, slow disease progression, and prevent infection and other complications through ursodeoxycholic acid, antibiotics, and endoscopic procedures.

Market key trends:

Growing research and development activities: Increasing government funding for research and innovation to develop advanced therapeutic options for chronic autoimmune diseases like PSC is driving the market growth. Various biopharmaceutical companies are investing extensively in clinical trials to evaluate new targeted and personalized treatment options. Increasing awareness through patient advocacy groups is also boosting the demand.

Porter’s Analysis:-

Threat of new entrants: The threat of new entrants is moderate as high capital investments and manufacturing infrastructure create entry barriers. However, the availability of generic drugs from emerging players pose a potential threat.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of cheap substitutes, though branded drugs offer better efficacy. However, treatment compliance and availability of limited drug options provide some advantage to existing players.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material procurement is challenging due to its complex formulation and strict quality standards. Suppliers differentiate their offerings on the basis of consistent quality supply.
Threat of new substitutes: The threat of new substitutes is low since alternative treatment options like liver transplantation are highly expensive and involve more risks. Development of new drug substitutes requires huge investments and time for approval.
Competitive rivalry: The competition in the market is high and companies are investing highly in R&D to develop novel drugs with better efficacy and less side effects to gain competitive edge.

Key Takeaways:-

The Global Primary Sclerosing Cholangitis Market Size is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period of 2023-2030, due to increasing prevalence of inflammatory bowel diseases like ulcerative colitis and autoimmune disorders.

North America dominated the global market in 2022 and is projected to maintain its dominance over the forecast period. This is attributed to well-developed healthcare infrastructure, increasing awareness about the disease, and rising cases of inflammatory conditions in the region. The Asia Pacific region is anticipated to exhibit fastest growth during the forecast period owing to improving healthcare facilities and rising per capita income in emerging countries like India and China.

Key players operating in the Primary Sclerosing Cholangitis market include Acorda Therapeutics Inc., Gilead Sciences, Inc., Intercept Pharmaceuticals, Inc., Dr. Falk Pharma GmbH, and Mallory Medicine Products. These players are investing heavily in R&D activities to develop more efficacious drugs with minimal side effects to gain competitive advantage.

Sneha

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