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Primary Sclerosing Cholangitis Market Growth Accelerated by Increasing Disease Prevalence

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Primary Sclerosing Cholangitis Market Growth Accelerated by Increasing Disease Prevalence

Primary sclerosing cholangitis is a chronic inflammatory disease of the bile ducts within and outside the liver. The disease leads to inflammation, scarring and destruction of the small bile ducts eventually leading to cirrhosis of the liver and requiring liver transplant in some cases. Treatments are aimed at managing symptoms, treating complications, and delaying disease progression. The rising prevalence of inflammatory bowel diseases such as ulcerative colitis which is strongly associated with primary sclerosing cholangitis is expected to drive the growth of this market.

The global Primary Sclerosing Cholangitis Market is estimated to be valued at US$ 1.98 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing prevalence of inflammatory bowel diseases among adults and children alike over the past few decades due to various environmental and genetic factors has significantly contributed to the rise in primary sclerosing cholangitis cases globally. It has been estimated that approximately two-thirds of patients with primary sclerosing cholangitis also suffer from inflammatory bowel diseases such as ulcerative colitis. The growing patient pool of inflammatory bowel disease therefore is presenting a strong growth opportunity for the primary sclerosing cholangitis market during the forecast period.

Segment Analysis

The global primary sclerosing cholangitis market is segmented based on diagnosis, treatment, and end user. Under diagnosis, imaging tests sub segment dominates the segment as imaging tests are mainly used for the diagnosis of primary sclerosing cholangitis and magnetic resonance cholangiopancreatography (MRCP) is considered as a gold standard noninvasive imaging technique. Treatment segment is further bifurcated into medicine and surgery. Medicine sub segment leads the segment with various drugs available in the market for the treatment of primary sclerosing cholangitis symptoms.

Key Takeaways

Global Primary Sclerosing Cholangitis Market Demand is expected to witness high growth over the forecast period. The global Primary Sclerosing Cholangitis Market is estimated to be valued at US$ 1.98 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.

Regional analysis

North America region currently dominates the global primary sclerosing cholangitis market. Higher prevalence and diagnosis rate in the U.S. and Canada along with availability of advanced healthcare facilities and reimbursement policies contribute to the growth of the market in the region. Asia Pacific is expected to witness fastest growth over the forecast period owing to growing awareness, improving healthcare infrastructure and increasing incidence of IBD which increases risk of primary sclerosing cholangitis in the region.

Key players

Key players operating in the primary sclerosing cholangitis market are Abbott Point of Care Inc., Cornley Hi-tech Co., LTD, Radiometer Medical ApS, EDAN Instruments, Inc., ERBA Diagnostics Mannheim GmbH, F Hoffman La Roche Ltd., Fortress Diagnostics, Instrumentation Laboratories, LifeHealth, Medica Corporation, Nova Biomedical Corporation, OPTI Medical Systems, Inc., Sensa Core, Siemens Medical Solutions USA, Inc.

Get More Insights on this Topic- https://www.marketwebjournal.com/primary-sclerosing-cholangitis-market-demand-analysis-and-value-insights/ 

 

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