Global primary sclerosing cholangitis market is estimated to witness high growth, owing to rising incidence of inflammatory bowel disease and increasing research focus
Global primary sclerosing cholangitis market is estimated to be valued at USD 161.2 Mn in 2024, exhibiting a CAGR of 7.8% over the forecast period 2024-2031. Rising prevalence of primary sclerosing cholangitis due to increasing cases of inflammatory bowel disease such as ulcerative colitis can drive the market growth.
Market Dynamics:
Global primary sclerosing cholangitis market growth is driven by rising incidence of inflammatory bowel disease and increasing research focus for developing effective treatment options. Rising cases of ulcerative colitis and Crohn's disease boosts demand for primary sclerosing cholangitis treatment. According to recent studies, nearly 50-70% of primary sclerosing cholangitis patients also have inflammatory bowel disease. Furthermore, ongoing clinical trials and research collaborations between pharma companies and research institutes aim to develop novel drugs with improved efficacy and safety profile. Recently, few new pipeline drugs have entered late-stage trials which if approved can boost the market growth over the forecast period. However, lack of disease awareness in developing nations and high cost of treatment can hamper the market growth.
Rising Prevalence of Inflammatory Bowel Disease Can Drive Market Growth
Global primary sclerosing cholangitis market growth is driven by rising prevalence of inflammatory bowel disease (IBD). Studies show that approximately 60-75% of patients diagnosed with primary sclerosing cholangitis also have underlying IBD such as ulcerative colitis. Rising IBD cases due to lifestyle and environmental factors can increase the number of associated primary sclerosing cholangitis diagnoses. For example, researchers estimate the prevalence of IBD in North America and Europe has doubled over the past few decades. This rising collaborative relationship between the two conditions contributes significantly to growing patient pool and clinical need for improved primary sclerosing cholangitis treatments.
Increased Awareness and Diagnosis Rates
Improved awareness among physicians and patients about primary sclerosing cholangitis leads to higher diagnosis rates, and this can drive the market growth. Earlier, this condition used to be severely under-diagnosed due to non-specific symptoms and lack of definitive diagnostic criteria. However, advancements in diagnostic modalities like magnetic resonance cholangiopancreatography (MRCP) have enabled more accurate identification and staging of the disease. Initiatives by patient advocacy groups to educate the medical community and raise public awareness about primary sclerosing cholangitis can detect more cases. The higher rate of new diagnoses as a result of increased awareness represents expanding market potential for novel pharmacological and surgical therapies.
Lack of Approved Drug Therapies Can Hamper Market Growth
Global primary sclerosing cholangitis market growth can be hampered by lack of FDA-approved drug treatments. Currently, there is no definitive pharmacological intervention available for the condition. While various immunosuppressants, anti-fibrotics and antibiotics have shown promise, none have obtained regulatory approval yet. Most therapy approaches are still experimental or off-label. This limitation significantly constrains the market growth as physicians have limited medication options to offer to patients. Development of safe and effective drug therapies remains an ongoing clinical need that if addressed could help overcome this growth impediment over time.
High Cost of Liver Transplantation Can Hamper Market Growth
High cost associated with liver transplantation, currently the only potentially curative option for advanced primary sclerosing cholangitis cases, can hamper the market growth. While transplantation can significantly improve survival, accessibility is low globally due to the prohibitive expense for most healthcare systems and individual patients. The high price tag not just for the surgical procedure but also long-term immunosuppressive therapy effectively puts transplantation out of reach for many people. This economic barrier can hamper the primary sclerosing cholangitis market growth.
Pending Drug Approvals Present Lucrative Opportunities
Drugs that are currently in the late stages of clinical testing and awaiting USFDA approval decisions can offer growth opportunities for market players. For instance, several companies have candidates targeting specific pathways in late Phase 2/Phase 3 trials that show promise in modulating the disease course if approved. Additionally, approvals can help expand treatment to new patient segments. Successful clearance of these pipeline therapies over the next few years could significantly boost the market potential
Rising Healthcare Expenditure in Emerging Markets Opening New Avenues
Rising healthcare spending capabilities in emerging economies like India, China, Brazil and the Middle East due to increasing incomes can offer opportunity. These underpenetrated developing markets currently account for only a minor share of global primary sclerosing cholangitis spending. However, enhanced affordability driven by stronger economic growth is gradually expanding the availability of advanced treatment options even in lower-income nations. Market players can capitalize on this evolution by making approved drugs and local partnerships to serve these fast-developing markets and widen their revenue base worldwide.
Link: https://www.coherentmarketinsights.com/market-insight/primary-sclerosing-cholangitis-market-1960
Key Development
- In June 2024, PSC Partners and PSC Partners Canada announced the enrollment of the first patient in the WIND-PSC study, aimed at addressing primary sclerosing cholangitis (PSC), a rare and serious chronic liver disease. With no approved therapies available, the study aims to generate crucial data to aid in the development of new treatments, thus, improving outcomes for patients facing significant health challenges.
- In March 2024, LISCure Biosciences, a clinical-stage pharmaceutical company, received Fast Track designation from the USFDA for LB-P8, its investigational drug aimed at treating primary sclerosing cholangitis (PSC). PSC is a rare and chronic liver disease with limited treatment options, making this designation significant for advancing potential therapies in this area.
- In November 2023, Chemomab Therapeutics Ltd., a biotech company, announced that its drug CM-101 had received Fast Track designation from the U.S. FDA for treating primary sclerosing cholangitis (PSC) in adult patients
Key Players: Acorda Therapeutics, Inc., Gilead Sciences, Inc., NGM Biopharmaceuticals, Inc., Intercept Pharmaceuticals, Inc., Dr. Falk Pharma GmbH, Allergan Plc., Shire Plc., Durect Corporation, Conatus Pharmaceuticals, Inc., Sirnaomics, Inc., Shenzhen HighTide Biopharmaceutical Ltd., Cymabay Therapeutics, Pliant Therapeutics, Immunic AG
