Primary Biliary Cholangitis (PBC) Treatment Market to Witness Steady Growth through 2027
Primary Biliary Cholangitis Treatment Market: Drivers and Restraints
Global primary biliary cholangitis treatment market is expected to drive by highly unmet medical need owing lack of definitive treatment, advanced diagnostic process coupled rising awareness among healthcare professionals and patients alike across the globe. The Incidence and prevalence of primary biliary cholangitis vary geographically, ranging from 0.7 to 49 and 6.7 to 402 per million, respectively. The factors currently contributing to the revenue growth of the primary biliary cholangitis treatment market is increasing incidence and prevalence of the disease, increased exposure to environmental triggers to immune system such as pesticides. Furthermore, lifestyle changes like smoking, alcoholism, and obesity are expected to drive the market for primary biliary cholangitis treatment over the forecast period.
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Global primary biliary cholangitis treatment market hindered by the lack of definitive treatment for the disease and late diagnosis of the disease led to treatment deprivation to the patient. The market restrained by dearth of epidemiology data which helps to assess the product access and availability in various geographies which are expected to hinder market revenue growth of primary biliary cholangitis treatment over the forecast period
Primary Biliary Cholangitis Treatment Market: Overview
Global primary biliary cholangitis treatment market is witnessing significant changes due to recent approval of UDCA by several regulatory authorities across the globe. In May 2016, the FDA approved obeticholic acid in combination with UDCA for primary biliary cholangitis (PBC) in adult patients with an inadequate response to UDCA. U.K’s NICE (National Institute for Health and Care Excellence) and European Commission granted the market authorization for Ocaliva (obeticholic acid) form Intercept Pharmaceuticals, Inc. in the year 2017 and 2016 respectively.
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Primary Biliary Cholangitis Treatment Market: Region-wise Outlook
Geographically, Primary biliary cholangitis treatment market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, Middle East and Africa. North America and Western Europe will remain key markets for primary biliary cholangitis treatment products due to increased regulatory approvals for treatment options, increasing awareness among patient advocacy groups regarding primary biliary cholangitis helps to maintain larger market share in the globalprimary biliary cholangitis treatment market by the regions. Asia Pacific is anticipated to present better growth opportunity owing to large untapped market, increasing out of pocket expenditure, and growing government’s interventions for improving healthcare infrastructure in the region.
Primary Biliary Cholangitis Treatment Market: Key Players
Some of the players in the global primary biliary cholangitis treatment market are Intercept Pharmaceuticals, Inc., Actavis, Inc., Teva Pharmaceuticals Inc., Epic Pharma, LLC, Mylan Pharmaceuticals Inc., and Axcan Scandipharm Inc. to name a few.
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