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The Primary Biliary Cholangitis (PBC) Therapeutics Market size is estimated to grow by USD 346.85 million at a CAGR of 8.75% between 2023 and 2028.
The advent of telehealth and remote monitoring has significantly contributed to the market growth. In addition, the pandemic in 2020 accelerated the adoption of telehealth services, transforming healthcare delivery. Moreover, telehealth enables remote consultations, diagnosis, treatment, and monitoring for primary biliary cholangitis patients and others, improving access to care. In addition, telehealth platforms allow primary biliary cholangitis patients to consult specialists virtually. Hence, such factors are positively impacting the market.
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In the realm of clinical trials subgrouping methodologies such as biomarker-based classification and symptom-based segmentation allow for more targeted and personalized approaches to treatment. Furthermore, liver function stage grouping and disease severity classification aid in stratifying patient populations based on specific criteria. Through therapeutic regimen differentiation and drug mechanism categorization, researchers can tailor interventions to suit the unique needs of different patient groups.
The primary drug segment is estimated to witness significant growth during the forecast period. There has been an increasing demand for the primary drug segment which is contributing to the dominant position of this segment in the market.
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The primary drug segment was the largest segment and was valued at USD 271.39 million in 2018. Moreover, factors including high adoption of the primary drug for the treatment of primary biliary cholangitis and the effectiveness of the primary drug, coupled with the rise in the number of patients suffering from primary biliary cholangitis and the availability of various primary drugs in the pipeline is fuelling this segment. Hence, such factors are fuelling this segment which in turn drives the market growth during the forecast period.
The growth of the drug stores and retain pharmacies segment in the global market is fuelled by the high sales of drugs from the drug stores and retail pharmacies. In addition, the geriatric population is more vulnerable to a number of diseases and increases the dependence on drug stores. Moreover, factors including the expanding geriatric population, increasing awareness and screening efforts, and the preference for outpatient care and follow-up treatment outside of hospital settings contribute to the drug stores and retail pharmacies segment in the market. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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North America is estimated to contribute 50% to the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Some of the main factors that are contributing to the market growth in North America include the increase in the number of clinical trials, the availability of advanced healthcare facilities, and increasing healthcare expenditure from government organizations. Moreover, factors including the increasing awareness and the growing need for treating it in its early stages are contributing to the regional market growth. In addition, the presence of advanced healthcare infrastructure in the region and the availability of various patient assistance programs fuels the market growth in the region. Hence, such factors are driving the market growth in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Abbott Laboratories: The company offers primary biliary cholangitis therapeutic treatment under rapid diagnostics, which includes infectious disease, cardiometabolic and informatics, toxicology, and consumer diagnostics.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In recent years, significant clinical trial advancements have been made in methodologies, particularly in the field of immunotherapy research. Despite these strides, treatment adherence challenges persist, posing obstacles to effective healthcare delivery. Additionally, regulatory approval processes continue to evolve to accommodate emerging therapies and ensure patient safety. Efforts to identify biomarkers for targeted treatments have intensified, paving the way for more personalized medicine approaches. These developments have profound healthcare policy implications, shaping regulations and guidelines to support the integration of innovative therapies into clinical practice.
A key factor shaping the market growth is the increasing demand for R&D due to government healthcare expenditure. In several applications, from small laboratory studies to large-scale production of specialty pharmaceutical products, the ability to obtain an enriched sample of small molecules, cells, proteins, nucleic acids, or clean solutions is essential. In addition, complying with government regulations that deal with the purity and consistency of primary biliary cholangitis therapeutics requires a well-thought-out enrichment plan.
Moreover, several specialties pharmaceutical companies are investing heavily in R&D. For instance, on average, the pharmaceutical company spends around 15%-20% of its revenue on R&D activities. In addition, increased R&D spending by pharmaceutical manufacturers is expected to increase the number of therapeutics in the market which is positively impacting the market. Therefore, it is expected to drive the market trends during the forecast period.
Stringent government regulations is one of the key challenges hindering market growth. Several market players are offering primary biliary cholangitis therapeutics that are subject to government regulations, such as the US Food and Drug Administration (US FDA), the conformite European (CE) Marking in Europe, and other regulations in different regions and countries worldwide. In addition, commercialization of these products with different technologies is a challenging process.
Moreover, they require premarket approval from notified bodies, including private organizations recognized by the European Free Trade Association. In addition, these devices cannot be marketed without successfully completing clinical trials, which is time-consuming, expensive, and uncertain. Furthermore, the laws and regulations of the approval process vary across countries, which is a major challenge faced by multinational companies. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder market growth during the forecast period.
The market research and growth report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The Primary Biliary Cholangitis (PBC) Therapeutics Market addresses the complexities of this chronic autoimmune liver disease, targeting the small bile ducts to prevent liver damage. With genetic predispositions and environmental triggers contributing to its onset, therapeutic interventions like ursodeoxycholic acid and obeticholic acid aim to alleviate symptoms and slow disease progression. In regions like Asia-Pacific, particularly among the Japanese population, research and development efforts focus on identifying novel drug targets and exploring combination therapies. Companies like HighTide Therapeutics with HTD1801 are addressing unmet medical needs, combating the lack of awareness and limited treatment options. Advancements in PBC therapeutics, coupled with product approvals and strategic agreements, drive accessibility through e-commerce sales and logistics services, facilitating diverse payment options for patients worldwide.
The market forecasting report covers market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Primary Biliary Cholangitis Therapeutics Market Scope |
|
Market Report Coverage |
Details |
Page number |
151 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.75% |
Market Growth 2024-2028 |
USD 346.85 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.0 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 50% |
Key countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, AbbVie Inc., Alkem Laboratories Ltd., Eli Lilly and Co., GENFIT SA, Glenmark Pharmaceuticals Ltd., ICE S.p.a., Intercept Pharmaceuticals Inc., Ipsen Pharma, Leeford Healthcare Ltd., NGM Biopharmaceuticals Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., Viatris Inc., and Zydus Lifesciences Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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