Primary Biliary Cholangitis Therapeutics Market to Reach $1.36 Billion, Globally, by 2032 at 7.1% CAGR: Allied Market Research

The growth of the global primary biliary cholangitis therapeutics market is driven by increase in awareness regarding primary biliary cholangitis disease in developing countries, rise in demand of primary biliary cholangitis therapeutics, and rise in research and development of primary biliary cholangitis therapeutic. 

PORTLAND, Ore., July 4, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Primary Biliary Cholangitis Therapeutics Market by Drug Type (Primary Drug and Secondary Drug), and Distribution Channel (Hospital Pharmacies, Drugs Stores and Retail Pharmacies, and Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2023–2032" According to the report, the global primary biliary cholangitis therapeutics industry generated $0.68 billion in 2022 and is anticipated to generate $1.36 billion by 2032, witnessing a CAGR of 7.1% from 2023 to 2032.

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Prime determinants of growth

Increase in awareness regarding primary biliary cholangitis disease in developing countries, rise in demand of primary biliary cholangitis therapeutics, and rise in research and development of primary biliary cholangitis therapeutics drive the growth of the global primary biliary cholangitis therapeutics market. However, lack of early diagnosis and limited treatment options is hampering the primary biliary cholangitis therapeutics market growth. On the contrary, the increase in adoption of key strategies by key players, and the increase in clinical trials of drugs for the treatment of primary biliary cholangitis are expected to offer remunerative opportunities for expansion of the primary biliary cholangitis therapeutics market during the forecast period.

Report coverage & details:

Covid-19 Scenario

• Due to the disruptions in global supply chains, restrictions on movement, lockdowns, and reduced workforce in manufacturing facilities, the primary biliary cholangitis therapeutics market faced a decline in growth.
• However, the market is recovering after the pandemic, owing to rise in research and development activities regarding primary biliary cholangitis therapeutics and increase in cases of primary biliary cholangitis.

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The primary drug segment to maintain its leadership status throughout the forecast period

Based on drug type, the primary drug segment held the highest market share in 2022, accounting for more than four-fifths of the global primary biliary cholangitis therapeutics market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to rise in adoption of primary drug for the treatment of primary biliary cholangitis (PBC). The same segment is projected to manifest the highest CAGR of 7.3% from 2023 to 2032, as increase in research and development of primary drug and the high effectiveness of primary drug against PBC.

The drugs stores and retail pharmacies to maintain its leadership status throughout the forecast period

Based on distribution channel, the drugs stores and retail pharmacies held the highest market share in terms of revenue in 2022, accounting for nearly three-fifths of the global primary biliary cholangitis therapeutics market revenue, owing to high sales of drugs from drug stores, and the high number of people is depending on the drug stores and retail pharmacies for medicines of primary biliary cholangitis. The online pharmacies segment is expected to witness the fastest CAGR of 8.6% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to convenience in shopping, increase in e-commerce sales, heavy discounts & offers, and ease in payment options.

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North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global primary biliary cholangitis therapeutics market revenue, owing to robust healthcare infrastructure, presence of key players, and rise in healthcare expenditure. However, the Asia-Pacific region is expected to witness the fastest CAGR of 8.5% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to a rise in primary biliary cholangitis cases, unmet medical demands, and high population base.

Leading Market Players: -

• ABC Farmaceutici S.p.a.
• Alkem Laboratories Limited
• AMAGEN INDIA LIFE SCIENCES
• GENFIT
• Intercept Pharmaceuticals, Inc.
• Ipsen Pharma
• Leeford Healthcare Ltd
• Lupin
• Sun Pharmaceutical Industries Ltd.
• Zydus Lifesciences Limited

The report provides a detailed analysis of these key players in the global primary biliary cholangitis therapeutics market. These players have adopted different strategies such as acquisition, product launch, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."

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