Primary Sclerosing Cholangitis Market Size, Share, Growth, Forecast and Outlook (2024-2031)

Primary Sclerosing Cholangitis Market Expected to Flourish, Surpassing US$ YY Million by 2031

The global Primary Sclerosing Cholangitis (PSC) market exhibited substantial growth in 2023, reaching US$ YY million, with projections indicating a promising trajectory to reach US$ YY million by 2031. This market surge is anticipated to be driven by a robust Compound Annual Growth Rate (CAGR) of YY% during the forecast period spanning from 2024 to 2031.

Key factors propelling the primary sclerosing cholangitis market growth include the escalating prevalence of the condition, concurrent advancements in technology, burgeoning research endeavors, substantial funding injections, and strategic collaborations among industry stakeholders.

Primary sclerosing cholangitis, often associated with inflammatory bowel disease, has emerged as a significant healthcare concern. Notably, approximately 70% of individuals affected by PSC also exhibit symptoms of inflammatory bowel disease, thereby highlighting the intricate link between the two conditions. Moreover, patients with PSC are predisposed to autoimmune disorders such as type 1 diabetes, celiac disease, or thyroid disease, further accentuating the urgency for effective treatments and interventions.

Insights into Market Dynamics

The increasing prevalence of primary sclerosing cholangitis has been a focal point of research efforts, particularly in regions such as North America and Western Europe. Noteworthy findings indicate incidence rates ranging from 1 to 1.5 cases per 100,000 person-years in North America and 6 to 16 cases per 100,000 person-years in Western Europe.

Collaborative endeavors in the realm of research have gained momentum, as evidenced by strategic partnerships such as the collaboration between Galmed Pharmaceuticals Ltd. and OnKai. Leveraging artificial intelligence models, this partnership aims to optimize clinical trial enrollment processes, particularly in underserved communities, thereby fostering inclusivity and expediting research initiatives.

Challenges and Opportunities Ahead

Despite the promising growth prospects, challenges persist, particularly concerning the side effects associated with primary sclerosing cholangitis medication therapy. Digestive system symptoms and pruritus are among the adverse effects reported, necessitating the development of innovative therapeutic modalities to mitigate such challenges.

Segment and Geographical Analysis

Segment-wise, medication-based therapies are anticipated to retain dominance in the primary sclerosing cholangitis market, with the medication segment capturing approximately 3/5th of the market share in 2022. Ursodeoxycholic acid (UDCA) remains a focal point of research, albeit with inconclusive evidence regarding its efficacy in PSC management.

Geographically, North America emerges as a key market player, holding an estimated one-third share throughout the forecast period. Pliant's recent announcement regarding the Fast Track designation granted by the U.S. Food and Drug Administration (FDA) underscores North America's significance in driving market advancements.

Impact of External Factors

The COVID-19 pandemic has posed formidable challenges to the primary sclerosing cholangitis market, disrupting clinical trials and impeding research endeavors. Furthermore, the Russia-Ukraine conflict has introduced additional uncertainties, potentially impacting healthcare infrastructure and patient access to essential services.

Competitive Landscape

Key players shaping the primary sclerosing cholangitis market landscape include Intercept Pharmaceuticals, Gilead Sciences, Bristol Myers Squibb, Takeda Pharmaceutical Company Limited, Johnson & Johnson, Allergan, Genfit, Pliant Therapeutics, ChemomAb Therapeutics Ltd., and Dr. Falk Pharma.

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