The global market for primary sclerosing cholangitis (PSC) is poised for remarkable expansion, with projections indicating a valuation of USD 314.26 million by 2033. This robust growth, driven by a notable compound annual growth rate (CAGR) of 7.6% from 2023 to 2033, highlights the increasing focus on addressing liver diseases and the rising trend of alcohol consumption.
In 2023, the PSC market was valued at USD 151.07 million. The anticipated growth is fueled by heightened awareness of PSC, coupled with significant advancements in diagnostic techniques and treatment modalities. These factors are expected to drive the market’s promising trajectory in the coming years.
PSC is a chronic liver disease marked by inflammation and scarring of the bile ducts within the liver, often leading to severe complications such as cirrhosis and liver failure. The rising incidence of liver disorders, combined with an increasing emphasis on early detection and intervention, underscores the critical need to address the unmet needs within the PSC landscape.
As the global healthcare community continues to focus on improving diagnostic and therapeutic approaches, the PSC market is set to experience substantial growth. This upward trajectory reflects the concerted efforts to manage and treat this challenging liver condition more effectively.
Key factors propelling the PSC market growth:
- Rising incidence of liver diseases: PSC is an autoimmune disease that affects the bile ducts in the liver. The increasing prevalence of liver diseases, such as non-alcoholic fatty liver disease (NAFLD) and hepatitis C, is expected to fuel the demand for PSC diagnosis and treatment.
- Growing alcohol consumption: Excessive alcohol consumption is a known risk factor for developing PSC. The rising trend of alcohol consumption, particularly in developing countries, is projected to contribute to the market growth.
- Technological advancements: Advancements in diagnostic techniques, such as magnetic resonance cholangiopancreatography (MRCP) and endoscopic retrograde cholangiopancreatography (ERCP), are enabling earlier and more accurate diagnosis of PSC. Additionally, the development of new and effective treatment options, such as ursodeoxycholic acid (UDCA) and fibroblast growth factor (FGF) inhibitors, is expected to improve patient outcomes and drive market expansion.
Key Takeaways:
- The PSC market is expected to grow significantly over the next decade, driven by factors such as the increasing prevalence of PSC, rising awareness of the disease, and growing R&D investment.
- The ursodiol drug type segment is expected to account for the largest share of the PSC market during the forecast period. This is due to the fact that ursodiol is the only FDA-approved drug for the treatment of PSC.
- The off-label drugs segment is expected to account for the largest share of the PSC market based on treatment type during the forecast period. This is due to the fact that there are a number of off-label drugs that are used to treat PSC, such as budesonide and obeticholic acid.
- North America is expected to account for the largest share of the PSC market based on region during the forecast period. This is due to the high prevalence of PSC in North America and the availability of advanced treatment options.
Understand the Surge in Primary Sclerosing Cholangitis (PSC): Our Comprehensive Report Offers Essential Trends and Insights!
Primary Sclerosing Cholangitis (PSC) Market: Competition Analysis
The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Primary Sclerosing Cholangitis (PSC) market. Competitive information detailed in the Primary Sclerosing Cholangitis (PSC) market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Primary Sclerosing Cholangitis (PSC) market report.
Key players covered in the report include:
- 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
Key Segments Covered in the Primary Sclerosing Cholangitis (PSC) Industry Analysis:
Primary Sclerosing Cholangitis (PSC) Market by Drug:
- BTT1023
- GS-9674
- NGM282
- OCA
- Cenicriviroc
- LUM001
- DUR928
- norUDCA
- HTD1801
- IDN-7314
- STP705
Primary Sclerosing Cholangitis (PSC) Market by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube