Global Progressive Familial Intrahepatic Cholestasis Type 2 Treatment Market, By Drug (Ursodeoxycholic acid, Cholestyramine, Rifampicin, Late Stage Pipeline Drugs, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 78.6 Million in 2023 and is expected to exhibit a CAGR of 39.8% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on adopting growth strategies such as the launch of new products, which will drive the global progressive familial intrahepatic cholestasis type 2 treatments market. For example, odevixibat is the first approved drug for the treatment of pruritus in all subtypes of progressive familial intrahepatic cholestasis (PFIC). Bylvay is the first drug treatment approved in the U.S. for the treatment of pruritus in all subtypes of progressive familial intrahepatic cholestasis (PFIC). Bylvay operates locally in the small intestine as a powerful, once-daily, non-systemic ileal bile acid transport inhibitor. Bylvay does not require refrigeration and can be taken as a capsule for older children, or opened and sprinkled onto food, which are factors of key importance for adherence in a pediatric patient population.
Global Progressive Familial Intrahepatic Cholestasis Type 2 Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. The virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of things from one place to another.
Global Progressive Familial Intrahepatic Cholestasis Type 2 Treatment Market: Key Developments
On June 20, 2023, Jadeite Medicines Inc., a clinical-stage biopharmaceutical company headquartered in Tokyo, Japan, received orphan drug designation for odevixibat for the expected indication of PFIC from the Ministry of Health, Labour, and Welfare (MHLW) of Japan. Jadeite Medicines has also announced the initiation of a phase 3 trial in PFIC for patients in Japan. PFIC is a rare and devastating disorder affecting young children with no approved treatment in Japan.
Browse 28 Market Data Tables and 28 Figures spread through 156 Pages and in-depth TOC on “Global Progressive Familial Intrahepatic Cholestasis Type 2 Treatment Market”- Forecast to 2030, Global Progressive Familial Intrahepatic Cholestasis Type 2 Treatment Market, By Drug (Ursodeoxycholic acid, Cholestyramine, Rifampicin, Late Stage Pipeline Drugs, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
Key Takeaways of the Global Progressive Familial Intrahepatic Cholestasis Type 2 Treatment Market:
- The global progressive familial intrahepatic cholestasis type 2 treatment market is expected to exhibit a CAGR of 39.8% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global progressive familial intrahepatic cholestasis type 2 treatments market.
- Among drug, the ursodeoxycholic acid segment is expected to hold a dominant position in the global progressive familial intrahepatic cholestasis type 2 treatments market during the forecast period, and this is attributed to the use of ursodeoxycholic acid in drug making for the treatment of progressive familial intrahepatic cholestasis type 2 treatments.
- Among regions, North America is expected to be the dominant region in the global progressive familial intrahepatic cholestasis type 2 treatments market, owing to the key players focusing on organic strategies to start new product launches.
- Major players operating in the global progressive familial intrahepatic cholestasis type 2 treatment market are Teva Pharmaceutical Industries Ltd., AbbVie, Inc., Glenmark Pharmaceuticals Limited, Par Pharmaceuticals, Inc., Mylan Pharmaceuticals, Inc., Sanofi S.A., Mylan N.V., Novartis International AG, Akorn, Inc., Albireo Pharma, Inc., Mirum Pharmaceuticals, Jadeite Medicines Inc., and Ipsen Pharma.
