Jan 14, 2020 7:23 AM ET
Cholangitis Market size is Forecast to Grow at CAGR of 5.3% During 2019-2024
iCrowd Newswire -
Jan 14, 2020
Cholangitis Market size is forecast to reach $850 million by 2024, after growing at a CAGR of 5.3% during 2019-2024. Great number of pipeline research projects on cholangitis to drive market growth. Further, rising in number of incidence and prevalence of liver dysfunction and bile cancer associated with PSC are key factors for the global cholangitis market
growth over the forecast period 2019 to 2024. Some of the key terms associated with the cholangitis market includes intravenous therapy, bacterial infection, bile duct infection, formation of gallstones and fighting pancreatic cancer.
- The clinical practice segment accounted for the largest market share, in 2018.
- The primary sclerosing cholangitis in the cholangitis market held 41.2% cholangitis market share, which largest among them in 2018
- North America held the largest market share with 40.6% in terms of revenue, in 2018.
- Growing awareness on campaigns on cholangitis and ways to reduce complications is a key factor in driving the global cholangitis market
Application – Segment Analysis
The global cholangitis market scope by application has been segmented into clinical practice, academics and research. The clinical practice segment accounted for the largest market share, in 2018 and is also projected to be the fastest growing segment over the forecast period. Significant revenue is generated for the detection of cholangitis in patient though clinical activities like complete blood count (CBC), liver function test and blood cultures. Thus resulting in the high revenue share in the market.
Type – Segment Analysis
The cholangitis market by type has been segmented into acute cholangitis, primary sclerosing cholangitis, secondary sclerosing cholangitis and recurrent pyogenic cholangitis. The primary sclerosing cholangitis in the cholangitis market by type held largest share in 2018. Growth in number of liver disease and growth in increase consumption of alcohol has resulted in high revenue share in this segment. The incidence of liver disease globally was 3.9 million, in 2016 according to the Centers for Disease Control and Prevention. Further, increase in investment in the research and development of developing new drugs and growing awareness is expected to drive the market over the forecast period 2019-2024.
Geography – Segment Analysis
The cholangitis market industry analysis by geography has been segmented into North America, South America, Europe, Asia Pacific and Rest of the World. North America held the largest market share, in 2018. Further, North America will continue to be the largest player during 2019 to 2024. Growth in elderly population along with growing awareness for health and wellness is driving the revenue growth in the region. Asia Pacific is expected to follow North America in terms of revenue in the global cholangitis market. Asia Pacific is expected to grow at the fastest rate during the forecast period owing to increasing disposable income and an increase in awareness of health care and aging problem.
Drivers – Cholangitis Market
- Growing awareness on cholangitis
Growing awareness on campaigns on different types of cholangitis and ways to reduce complications is a key cholangitis market trends in driving the global cholangitis market over the forecast period 2019 to 2024. People are much more conscious about the help and are further well educated on the symptoms of cholangitis. Thus with the slightest of symptoms hinting at cholangitis, the patient would get himself tested. This is enabling revenue generation in the market. Many key players operating in the cholangitis market periodically organize awareness programs as it is in turn a key factor in there revenue growth.
- Increase in number of pipeline studies is expected to drive the market
Rise in number of pipeline studies to develop to treat cholangitis is expected to boost the market growth over the forecast period in the report. In October 2018, CymaBay Therapeutics, Inc., started placebo randomized and controlled phase 3 clinical trial for seladelpar 5-10mg. The main aim of the study was to assess safety and effectiveness of seladelpar in patients with primary biliary cholangitis (PBC) and to determine inadequate response to ursodeoxycholic acid (UDCA). The study is estimated to complete in December 2021. Thus it is a key factor in the growth of cholangitis market demand during the forecast period.
Challenges – Cholangitis Market
- Hard to detect and lack of government initiatives
The cholangitis is very difficult to detect or perfectly gauze the stage of the disease. A liver cirrhosis can be only confirmed by liver biopsy. Further, most people are still reluctant to get tested in initial stages. Moreover, diagnosis and treatment of cholangitis is not available everywhere and lack of government initiatives have only make it worse. These are some of the key challenges faced by the key players operating in the global cholangitis market.
Research and development and acquisition are some of the key strategies adopted by players in the cholangitis market. In 2018, the cholangitis market has been consolidated by the top five players. Major players in the Cholangitis Market are Taiho Pharmaceutical Co. Ltd., Mayo Clinic, Bayer AG, Gilead Sciences, RiemserArzneimittel, Allergan, Glenmark, Impax Laboratories, Mylan, Teva Pharmaceuticals and Zambon Company SPA among others.
- Acquisitions/Research & Development Launches
On January, 2016, Acorda Therapeutics, Inc. announced that the company has entered into an agreement to take over Biotie Therapies Corp. According to the agreement, the company will acquire the four pipeline products which include BTT1023, a fully human monoclonal antibody in Phase 2 development for treatment of primary sclerosing cholangitis (PSC). This would enable the company to gain competitive advantage over its competitors.
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