Gout Therapeutics Market Size, Share, and Global Market Forecast to 2029

May 24 22:04 2022
Gout Therapeutics Market Size, Share, and Global Market Forecast to 2029
DataM Intelligence
Global Gout Therapeutics Market is expected to grow at a high CAGR of 15% during the forecasting period (2022-2029).

Market Overview

Gout s a type of inflammatory arthritis caused by the overabundance of uric acid in the body, either producing too much or excreting too little. Gout can be acute and chronic. Acute gout mostly affects the major extremity joint, with the small joints of the hands and feet the most affected. In chronic gout, hard swellings ( known as tophi) can form on the joints made of uric acid and grow large, even breaking through the skin. The global gout therapeutics market is impacted by several factors such as the rising prevalence of gout globally due to changes in lifestyle, increasing alcohol consumption, increasing obesity & kidney diseases, high purine diet, and several medications diuretics.

Favourable refund plans in emerging countries for biologics drive the biologics segment. Additionally, the growth and introduction of new gout drugs essential to treat individuals suffering from gout diseases are predictable to drive the gout therapeutics market throughout the forecast period. Increasing adoption of biologics and rising Research and Development on regenerative medicines, advanced technology improvements in imaging modalities developed understanding of gout, and increasing occurrences of gout owing to increased alcohol consumption are prominent factors that are driving the growth of the global market. Asia Pacific gout therapeutics market is expected to show a speedy growth rate throughout the forecast period for the market with the occurrence of numerous high economically developing countries such as China, India, South Korea, and Other South Asian countries. The North American region is projected to register the largest share in the global Gout Therapeutics Market during the forecast period of 2022-2029.

 

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Market Dynamics

Besides, increasing government initiatives and awareness towards gout cause and treatment is expected to boost its growth. For instance, in May 2016, the Arthritis Foundation and Takeda Pharmaceuticals USA Inc. launched the Let’s Speak Gout program. Healthcare professionals and patients tool students to make more effective gouty arthritis management a priority.

In May 2018, Horizon Pharma plc marked Gout Awareness Day by launching Gout Revealed, which was created to spotlight real-life stories of people living with uncontrolled gout.  People living with uncontrolled gout gets the opportunity to share their own story through the website, which will be updated throughout the year to help educate others.

Also, rising research and development to introduce new gout treatments drive the market’s growth over the forecast period. For instance, on October 29th, 2022, Researchers at the Washington State University Health Sciences Spokane and elsewhere have identified a new therapeutic target for gout treatment. The research lays the foundation for developing new treatment strategies that could significantly improve the quality of life of millions of people worldwide who suffer from the condition. In the United States alone, gout affects an estimated 8.3 million people, or about 4 percent of the population.

 

Market Segmentation:

By Drug Class

l Non-steroidal Anti-inflammatory Drugs (NSAIDs)

l Anti-hyperuricemic Agents (Urate-Lowering Drugs)

l Non-steroidal Anti-inflammatory Drugs (NSAIDs

l Corticosteroids

By Disease Type

l Acute Gout

l Chronic Gout

By Distribution Channel

l Hospital Pharmacies

l Drug Stores

l Online Channels

l Others

 

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Competitive Landscape

The gout therapeutics market is fragmented and highly competitive and consists of several major players. Few major players dominate the market share, and few emerging companies are expected to enter the market over the forecast period. Some of the market’s major players market is Horizon Therapeutics plc, Lannett Company, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Ltd, and Mylan. The key players are adopting various growth strategies such as product launches, acquisitions, and collaborations, contributing to the Gout Therapeutics market’s growth globally. For instance,

On March 2nd, 2020, Avion Pharmaceuticals launched Gloperba (colchicine) oral solution for prophylaxis of gout flares in adults.

 

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