The global Primary Sclerosing Cholangitis (PSC) market size is expected to be valued at USD 151.07 Million in 2023. With the increasing alcohol consumption among people, the overall demand for Primary Sclerosing Cholangitis (PSC) is projected to grow at a CAGR of 7.6% between 2023 and 2033, totaling around USD 314.26 Million by 2033.
| Data Points | Key Statistics |
|---|---|
| Primary Sclerosing Cholangitis (PSC) Market Value 2023 | USD 151.07 Million |
| Primary Sclerosing Cholangitis (PSC) Market Projected Value (2033) | USD 314.26 Million |
| Primary Sclerosing Cholangitis (PSC) Market CAGR (2023 to 2033) | 7.6% |
According to the analysis of Future Market Insights, the Primary Sclerosing Cholangitis (PSC) market is expected to fuel over the analysis period, attributed to the factors such as the rise in the incidences of liver diseases, as well as the rise in alcohol consumption. As per the Centers for Disease Control and Prevention, the global incidence of liver disease was 3.9 million in 2016. As per the World Health Organization (WHO), the prevalence of liver cirrhosis is increasing in European countries, due to the high consumption of alcohol. Furthermore, rising awareness programs and an upsurge in Research and Development investment for the development of new drug molecules are other factors that are expected to augment the growth of the primary sclerosing cholangitis market during the forecast period.
The rising frequency of disorders linked to PSC, such as liver cancer and inflammatory bowel disease, is another factor that is anticipated to fuel the therapeutic acceptance of effective pharmaceuticals to treat the condition, which in turn is expected to accelerate the market growth. As per the World Journal of Gastroenterology, Inflammatory bowel disease (IBD) is detected in 50-80 percent of patients with PSC, with ulcerative colitis (UC) accounting for 80-90 percent of these instances.
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The global demand for Primary Sclerosing Cholangitis (PSC) is projected to increase at a CAGR of 7.6% during the forecast period between 2023 and 2033, reaching a total of USD 314.26 Million in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 2.8%.
According to Future Market Insights, a market research and competitive intelligence provider, the Primary Sclerosing Cholangitis (PSC) market was valued at USD 140.4 Million in 2022.
As per the report of NCBI, in 2018, there were approximately 0.2-1.2 million people having primary sclerosing cholangitis, in Northern European countries and North America, where the disease is most common, and almost more than half of these cases could have been avoided with the availability of proper medical treatment.
Thus, factors such as a rise in the number of cholangitis cases and an increase in product approvals by several regulatory authorities globally are projected to fuel the revenue share of the market in the forthcoming years. Hence, increasing prevalence, as well as incidence rates of liver failure, and bile cancer associated with cholangitis, is one of the major factors that are likely to escalate the demand for PSC over the forecast period.
Affordable Treatment Options to Fuel the Market Growth
Currently, a liver transplant is one of the major causes of liver transplantation in the USA and is the only known cure for primary sclerosing cholangitis. However, according to a February 2018 survey by Mayo Clinic, the disease is projected to recur in the transplanted liver in 27.2% of the patients, thereby demanding efficient as well as affordable therapeutic solutions to cater to unmet patient needs. As per the United Network for Organ Sharing (UNOS), 2018, the estimated bill charges for a liver transplant procedure are around USD 577,100 in the USA.
Additionally, there are major risk factors associated with liver transplantation that causes the death of the patient. For instance, in May 2019, as per the data published by the National Center for Biotechnology Information, pre-transplant malignancies were identified as those malignancies known prior to the transplant and those found only on pathologic evaluation of the explant. In addition, as per the data published by Mayo Clinic in March 2022, about 75% of people who undergo liver transplants live for at least five years. This means that for every 100 people who receive a liver transplant for any reason, about 75 will live for five years and 25 will die within five years.
Hence, the requirement of providing affordable treatment, due to increasing risk factors resulting in the development of serious disorders, and high costs associated with liver transplantation are major factors that are anticipated to fuel the adoption of primary sclerosing cholangitis drugs, which in turn are likely to boost the market growth over the analysis period.
Rise in Prevalence of Liver Failure & Bile Cancer to Accelerate the Market Growth
The rising incidence of diseases associated with primary sclerosing cholangitis, including liver cancer and inflammatory bowel disease, is expected to boost the therapeutic adoption of efficient drugs to manage the condition, thus accelerating the growth of the primary sclerosing cholangitis market.
For instance, in May 2021, as per an article published by Springer Nature Limited, a diagnosis of primary sclerosing cholangitis (PSC) has been associated with the increased risk of colorectal cancer, hepatobiliary cancers, and all-cause mortality in several studies, while associations with cardiovascular disease have been inconsistent. In addition, an incidence of 0.4-0.7 cases per 100,000 in the UK, and a prevalence of 3.9-16.2 per 100,000 of liver failure were reported.
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Stringent Government Regulations to Restrain the Market Growth
The withdrawal of novel molecules from late-stage clinical trials, coupled with stringent regulations for the approval of the drugs are the major factors that are anticipated to hamper the market growth in the coming years. For instance, approval of Ursodeoxycholic acid (UDCA) by the US Food and Drug Administration (FDA) for the treatment of Primary Biliary Cholangitis (PBC) required overcoming several barriers to drug development, and these barriers continue to pose challenges for current as well as the future drug development.
As cholangitis is a rare disease, the recruitment of adequate numbers of PBC patients to power clinical trials requires many participating sites. Moreover, clinical outcomes, including liver transplantation and survival, occur at a low rate, particularly in patients with early-stage disease. Hence, the timeframe for a clinical trial to demonstrate clinical benefits is not practical, especially for therapies that may be most effective in early-stage disease. Thus, these challenges are projected to limit the market growth in the near future.
High Cost of Drug Development to Limit the Market Growth
The high cost associated with drug development is one of the major factors that is anticipated to restrain the growth of the primary sclerosing cholangitis market during the forecast period. In addition, the withdrawal of molecules from late clinical stages is another factor that will hinder market growth.
Factors such as development activities in this direction, as well as a lack of initiatives by the government to spread awareness and undertake research, will further impede market growth in the near future. Also, the lack of skilled professionals or trained expertise in this area in low-and-middle class economies will further hamper in the way of growth over the analysis period.
Increase in R&D Proficiencies in the Region to Fuel the Market Growth
The Primary Sclerosing Cholangitis (PSC) Market in North America is expected to accumulate the highest market share of 42% in 2023.
Factors such as higher healthcare spending as well as favorable reimbursement scenario are expected to fuel the regional market growth during the forecast period. In addition, a developed regulatory framework, and a rise in awareness about new treatment options are other factors driving the market growth in the region.
Other factors including the rise in the research and development proficiencies by the pharmaceutical companies, rapid adoption of new and better healthcare technologies, and prevalence of sophisticated healthcare infrastructure are also likely to stimulate the demand for primary sclerosing cholangitis drugs, which in turn will boost the revenue share of the market. Favorable reimbursement policies are also inducing the dominance of the region.
North America dominated the global primary sclerosing cholangitis market in terms of revenue share in 2019. The region is expected to continue its dominance over the forecast period. This can be attributed to a rise in awareness about PSC, the availability of effective treatment methods, and the presence of well-established healthcare facilities. In addition, the increasing prevalence of diabetes and hypertension is also anticipated to drive regional growth during the forecast period.
In 2016, there were an estimated 83,081 people living with liver and intrahepatic bile duct cancer in the USA. Thus, rising bile duct cancer is another factor that is boosting the market growth in the region. The region is expected to hold the highest CAGR of 7.5% during the forecast period.
Growing Medical Tourism Industry in the Region to Fuel the Market Growth
The Primary Sclerosing Cholangitis (PSC) Market in Asia Pacific is expected to accumulate the highest market share of 40% in 2023.
Enhanced healthcare infrastructure and reimbursement policies across emerging economies including India and China, coupled with increasing incidence rates associated with PSC are the major factors that are driving the market growth in Asia Pacific.
In addition, the surging medical tourism industry, due to its low-cost burden, and enhanced healthcare services are the other key factors that are projected to contribute to regional market demand over the analysis period. Additionally, the market is expected to be driven by factors such as rising incidences of liver diseases and disorders. The region is expected to hold the highest CAGR of 7.4% during the forecast period.
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Primary Sclerosing Cholangitis Segment to beat Competition in Untiring Market
On the basis of type, the global Primary Sclerosing Cholangitis (PSC) market is dominated by the Primary Sclerosing Cholangitis Segment, which accounts for a share of 45%. The segment is expected to hold a CAGR of 7.5% over the analysis period.
The segment’s growth is attributed to the factors such as the growing research & development activities for the treatment. Primary sclerosing cholangitis is a progressive, rare, and chronic cholestatic liver disorder that is characterized by thickening, inflammation, and fibrosis of the bile ducts. Both intra- and extra-hepatic bile ducts are affected. This generally leads to cholestasis, liver cirrhosis, and eventually liver failure.
Hospitals Segment to Drive the Primary Sclerosing Cholangitis (PSC) Market
Based on the Application, the hospital's segment is expected to witness a significant growth of 62% in 2022, and the trend is expected to continue during the forecast period, expanding at a rapid rate of 7.4% CAGR over the analysis period.
This growth is attributed to rising incidence rates of MPSC among hospitalized patients across the globe. Hospital-based clinics have been found most effective in diagnosing and treating primary sclerosing cholangitis due to their access to advanced healthcare facilities, along with experienced medical professionals, which has led them to be considered one of the best treatment centers for this disease.
Primary Sclerosing Cholangitis (PSC) Market start-up players are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential patients and create a larger customer base. For instance,
Prominent players in the Primary Sclerosing Cholangitis (PSC) market are 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., and Shenzhen HighTide Biopharmaceutical Ltd., among others.
Recent Developments:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.6% from 2023 to 2033 |
| Market Value in 2023 | USD 151.07 Million |
| Market Value in 2033 | USD 314.26 Million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Drug, Region |
| Regions Covered | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | 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. |
As of 2022, the market for Primary Sclerosing Cholangitis (PSC) was valued at USD 140.4 Million, as per FMI.
By 2023-end, sales of Primary Sclerosing Cholangitis (PSC) closed at a value of USD 151.07 Million.
From 2018 to 2022, Primary Sclerosing Cholangitis (PSC) demand expanded at a CAGR of 2.8%
From 2023 to 2033, Primary Sclerosing Cholangitis (PSC) sales are expected to flourish at a CAGR of 7.6%
By 2033, the market value of Primary Sclerosing Cholangitis (PSC) is expected to reach USD 314.26 Million.
By Type, the Primary Sclerosing Cholangitis segment constitutes the bulk of market share of 45% in 2022.
By Application, the Hospitals segment dominates the market with a share of 62% in 2022.
1. Executive Summary | Primary Sclerosing Cholangitis (PSC) Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug 5.1. BTT1023 5.2. GS-9674 5.3. NGM282 5.4. OCA 5.5. Cenicriviroc 5.6. LUM001 5.7. DUR928 5.8. norUDCA 5.9. HTD1801 5.10. IDN-7314 5.11. STP705 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 6.1. North America 6.2. Latin America 6.3. Europe 6.4. Asia Pacific 6.5. Middle East and Africa 7. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Key Countries Market Analysis 13. Market Structure Analysis 14. Competition Analysis 14.1. Acorda Therapeutics, Inc. 14.2. Gilead Sciences, Inc. 14.3. NGM Biopharmaceuticals, Inc. 14.4. Intercept Pharmaceuticals, Inc. 14.5. Falk Pharma GmbH 14.6. Allergan Plc. 14.7. Takeda Pharmaceutical Company 14.8. Durect Corporation 14.9. Conatus Pharmaceuticals, Inc. 14.10. Sirnaomics, Inc. 15. Assumptions & Acronyms Used 16. Research Methodology
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Primary Sclerosing Cholangitis (PSC) Market
