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Primary Biliary Cholangitis Market: Key Drivers, Insights, Outlook, Overview, and Research Report 2024-2033
Primary Biliary Cholangitis Market
Primary Biliary Cholangitis Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $1.46 billion In 2028 At A CAGR Of 10.4% :
The primary biliary cholangitis market size has grown rapidly in recent years. It will grow from $0.87 billion in 2023 to $0.98 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to increased disease awareness, rising global healthcare expenditure, strategic collaborations in the healthcare sector, focus on patient advocacy, government initiatives for liver health..
The primary biliary cholangitis market size is expected to see rapid growth in the next few years. It will grow to $1.46 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to expansion of biomarker research, global efforts in rare disease management, increased collaboration in clinical trials, patient-centric healthcare approaches, rising demand for liver transplants.. Major trends in the forecast period include advancements in biomarker research, growing emphasis on non-invasive diagnostic techniques, research focus on immunomodulatory therapies, integration of artificial intelligence (ai), patient-reported outcomes in clinical trials, telemedicine for patient management, focus on combination therapies, emerging therapies targeting fibrosis..
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Primary Biliary Cholangitis Market Major Segments
The primary biliary cholangitis market covered in this report is segmented -
1) By Treatment Type: Drugs, Liver Transplantation
2) By Diagnosis: Imaging Tests, Magnetic Resonance Elastography (MRE), Magnetic Resonance Cholangiopancreatography (MRCP), Ultrasound, Fibroscan, Blood Tests, Cholesterol Test, Antibody Tests, Liver Tests, Other Diagnoses
3) By End-Users: Specialty Clinics, Homecare, Other End-Users
Key Driver - Rising Smoking Rates Fueling Growth in the Primary Biliary Cholangitis Market
The increase in smoking is expected to propel the growth of the primary biliary cholangitis market going forward. Smoking refers to the act of inhaling and exhaling the smoke produced by burning tobacco or other substances. Smoking is a known risk factor for liver diseases, including PBC, and higher smoking rates can lead to more individuals seeking medical attention for liver-related issues. For instance, in July 2023, according to Statistics Canada, a Canada-based government agency, cigarette production increased by 2.2% compared to June 2023 in Canada. Moreover, there was a 2.6% rise in cigarette sales in June, reaching 1.4 billion units compared to May. Therefore, the increase in smoking will drive the growth of the primary biliary cholangitis market.
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Prominent Trend - Innovative Orphan Drug Combinations Transforming the Landscape of Primary Biliary Cholangitis (PBC) Treatment
Companies operating in the primary biliary cholangitis market are focused on developing innovative and specialized treatments, such as orphan drugs with a combination of obeticholic acid (OCA) and bezafibrates to treat primary biliary cholangitis (PBC), to gain market exclusivity. The combination of OCA and bezafibrate with an orphan drug designation aims to offer a more comprehensive and effective approach to managing PBC treatment, potentially improving the quality of life for individuals affected by this rare condition. For instance, in May 2023, Intercept Pharmaceuticals, Inc., a US-based biopharmaceutical company, received orphan drug designation from the FDA for the combination of obeticholic acid (OCA) and bezafibrate, a PPAR agonist, as a potential treatment for primary biliary cholangitis (PBC), a progressive liver disease, and obeticholic acid (marketed as Ocaliva) is approved for PBC in the US.
Primary Biliary Cholangitis Market Players
Major companies operating in the primary biliary cholangitis market report are Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck And Co. Inc., Novartis AG, Bristol-Myers Squibb Company, AstraZeneca plc, GlaxoSmithKline plc, Takeda Pharmaceutical Company, Amgen Inc., Boehringer Ingelheim International GmbH., Gilead Sciences Inc., Vertex Pharmaceuticals, Dr. Reddy's Laboratories Ltd., Amneal Pharmaceuticals LLC, Alnylam Pharmaceuticals Inc., Ionis Pharmaceuticals Inc., Intercept Pharmaceuticals Inc, Arrowhead Pharmaceuticals Inc., CureVac N.V., Sangamo Therapeutics Inc., Calliditas Therapeutics AB, NGM Biopharmaceuticals Inc., Bluebird Bio Inc., Intellia Therapeutics Inc., Albireo Pharma Inc , TARGET PharmaSolutions Inc., Genfit S.A., Editas Medicine Inc., CymaBay Therapeutics Inc., Ascletis Pharma Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the primary biliary cholangitis market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the primary biliary cholangitis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Primary Biliary Cholangitis Market Report Structure
3. Primary Biliary Cholangitis Market Trends And Strategies
4. Primary Biliary Cholangitis Market - Macro Economic Scenario
5. Primary Biliary Cholangitis Market Size And Growth
…..
27. Primary Biliary Cholangitis Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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