The new report by Expert Market Research titled, ‘Global Primary Biliary Cholangitis Therapeutics Market Trends, Price, Size, Share, Report and Forecast 2023-2028’, gives in-depth analysis of the global primary biliary cholangitis therapeutics market, assessing the market based on its segments like type, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 10.5%
The primary biliary cholangitis market is expected to grow in the coming years as a result of factors such as increased research and development activities for drug development, a rise in the number of patients with primary biliary cholangitis, and others. On the other hand, an increase in the number of medications approved by the Food and Drug Administration (FDA) to treat PBC is likely to create business opportunities.
Primary Biliary Cholangitis Therapeutics Industry Definition and Major Segments
Primary biliary cholangitis (PBC), also known as Primary Biliary Cirrhosis, is a chronic liver condition caused by inflammation of the bile ducts. As in primary biliary cirrhosis, the bile ducts are weakened, and harmful substances can build up in the liver, causing permanent scarring of the liver tissue. PBC is an inflammatory condition in which the body attacks its own cells. The symptoms of primary biliary cholangitis appear gradually.
The industry can be broadly categorised based on its type into:
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Primary Biliary Cholangitis Therapeutics Market Trends
Due to a lack of conclusive treatment and an advanced diagnostic procedure, the global primary biliary cholangitis treatment market is expected to be driven by a high unmet medical need, as well as increasing awareness among healthcare professionals and patients alike. Primary biliary cholangitis incidence and prevalence differ by area, ranging from 0.7 to 49 and 6.7 to 402 per million, respectively.
The rising incidence and prevalence of the disease, as well as increased exposure to immune system causes such as pesticides, are currently driving revenue growth in the primary biliary cholangitis treatment market.
Furthermore, over the projected era, lifestyle changes such as smoking, alcoholism, and obesity are expected to drive the demand for primary biliary cholangitis care. The lack of a definitive cure for primary biliary cholangitis and late diagnosis of the disease have hampered the global demand for primary biliary cholangitis treatment. This has resulted in treatment deprivation for patients.
The market is restrained by a lack of epidemiology data that helps assess product access and availability in various geographies, which is expected to stifle primary biliary cholangitis treatment market revenue growth over the forecast period. Because of increased regulatory approvals for treatment options and increased awareness among patient advocacy groups about primary biliary cholangitis, North America and Western Europe will continue to be key markets for primary biliary cholangitis treatment products. This will help the regions retain a greater market share in the global primary biliary cholangitis treatment market.
Key Market Player
The major players in the market are Abbott Laboratories (NYSE: ABT), Allergan Plc, Eli Lilly and Co., Intercept Pharmaceuticals Inc., Takeda Pharmaceutical Co. Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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