Global Primary Sclerosing Cholangitis Market, by Drug (BT1023, GS-9674, NGM282, OCA, LUM001, DUR928, norUDCA, HTD1801, IDN-7314, STP705) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 140.4 Million in 2022 and is expected to exhibit a CAGR of 7.6% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Pharmaceutical companies are focusing on enhancing research and development for introducing novel therapeutics to address unmet patient needs. For instance, in July 2021, the discovery and development of siRNA (small interfering RNA) therapeutics by Sirnaomics, Inc., Biotech Company with dual-target properties and polypeptide nanoparticle (PNP)-enhanced delivery that directly controls the fibrotic and inflammatory activity is expected to had wide applications in many inflammatory and fibrotic diseases.
Global Primary Sclerosing Cholangitis Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and consequent lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a positive impact on the global primary sclerosing cholangitis market, owing to its possible association with the COVID-19 infection. For instance, according to an article published by the National Center for Biotechnology Information, a series of databases relevant to biotechnology and biomedicine, in November 2021, an impairment of the gut microbiota composition, which is frequently associated with a dysregulation of the overall intestinal homeostasis and gut-brain axis, can participate in the development of Inflammation Bowel Syndrome (IBS) which causes primary sclerosing cholangitis. An imbalance of the gut microbiota occurs in SARS-CoV-2-infected individuals. Therefore, it is possible that a COVID-19-induced dysregulation of the gut- microbiota may enhance predisposing circumstances for IBS.
Global Primary Sclerosing Cholangitis Market: Key Developments
In January 2022, COUR Pharmaceuticals, a biotechnology company, announced that the U.S. Food and Drug Administration granted Fast Track Designation to CNP-104 for the treatment of primary biliary cholangitis. According to the release, CNP-104 uses COUR’s proprietary nanoparticle platform, which combines disease-specific antigens with immune-modifying nanoparticles to treat immune disorders such as primary biliary cholangitis (PBC).
Browse 15 Market Data Tables and 25 Figures spread through 134 Pages and in-depth TOC on “Global Primary Sclerosing Cholangitis Market”- Forecast to 2030, Global Primary Sclerosing Cholangitis Market, by Drug (BT1023, GS-9674, NGM282, OCA, LUM001, DUR928, norUDCA, HTD1801, IDN-7314, STP705) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the primary sclerosing cholangitis market, click the link below:
https://www.coherentmarketinsights.com/market-insight/primary-sclerosing-cholangitis-market-1960
Moreover, public and private organizations such as PSC Support Organization and the National Organization for Rare Disorders serve as the hub of the rare disease community, providing assistance programs for patients and advancing clinical trials by granting funds for advanced research programs. The UK Primary Sclerosing Cholangitis Support Organization granted US$ 20,000 in 2018 to the University of Birmingham for supporting the research and investigation of Vascular Adhesion Protein (VAP-1) in primary sclerosing cholangitis (PSC). Also, in 2017, the Falk Foundation funded a European multi-center phase II study led by the Medical University of Vienna in collaboration with the Medical University of Graz and the Medical University of Hannover, to treat primary sclerosing cholangitis.
Key Takeaways of the Global Primary Sclerosing Cholangitis Market:
- The global primary sclerosing cholangitis market is expected to exhibit a CAGR of 7.6% during the forecast period due to the increasing adoption of inorganic strategies such as collaborations and agreements by the key players in the market for developing drugs for primary sclerosing cholangitis. For instance, in November 2021, Ironwood Pharmaceuticals, Inc., a pharmaceutical company, had signed a collaboration with COUR Pharmaceuticals, a biotechnology company, for the development of novel therapy for primary sclerosing cholangitis and to develop and commercialize CNP-104 for the treatment of primary biliary cholangitis in the U.S.
- Orphan drug designation granted by regulatory agencies such as the Food and Drug Administration (FDA) and European Medicine Agency (EMA) for the treatment of PSC enables manufacturers to accelerate the drug development process for providing new drug treatments to patients in need. For instance, in 2017, Conatus Pharmaceuticals Inc., a privately-held biotechnology company was granted orphan designation to IDN-7314 by the U.S. FDA and EMA. The drug completed two successful pre-clinical trials, of which the second one was completed in 2017. Also, in 2016, the U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation for BTT1023 drug candidate developed by Acorda Therapeutics, Biotechnology Company, based in the U.S. which is in Phase 2 clinical trials currently.
- Key players in the market are focusing on adopting inorganic strategies such as collaboration and acquisitions to accelerate the development of new treatment options to address the unmet needs of patients suffering from rare diseases by advancing the therapies into clinical trials. For instance, in January 2022, LISCure Biosciences Inc., a South Korea-based biotech company, had executed a research collaboration agreement with the U.S.-based Mayo Clinic for new drug development for rare liver diseases. LISCure had been conducting joint research with Mayo Clinic for non-alcoholic steatohepatitis (NASH) drugs since 2021, and this new collaboration is an agreement signed under the leadership of Nicholas F. LaRusso, M.D. and Steven P. O'Hara, Ph.D., renowned authorities in the field of rare liver diseases.
- Major players operating in the global primary sclerosing cholangitis market 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., and Shenzhen HighTide Biopharmaceutical Ltd.
