Gout Therapeutics Market Share, Size, Trends, Industry Analysis Report, By Drug Class (Non-steroidal Anti-Inflammatory Drugs (NSAIDs), Corticosteroids, Colchicine, Urate Lowering Agents) Disease Condition (Acute, Chronic); By Region, Segments & Forecast, 2022 - 2029
- Published Date:Jan-2022
- Pages: 101
- Format: PDF
- Report ID: PM1611
- Base Year: 2021
- Historical Data: 2017 - 2020
Report Summary
The global gout therapeutics market was valued at USD 2.78 Billion in 2021 and is expected to grow at a CAGR of 13.7% during the forecast period.
The rising acceptance of biologics and enhanced R&D on regeneration therapies, technical developments in imaging modalities, greater knowledge of the, and rising incidence due to higher alcohol use are the primary drivers driving the gout therapeutics market.
Know more about this report: request for sample pages
Gout is inflammatory arthritis that affects men over the age of 40 who have a high quantity of uric acid in their blood. Males are more likely to have it than females. The chemical can induce significant pain, inflammation, and soreness in joints by forming needle-like crystals.
Several businesses are testing various medications and therapeutics for the treatment of the current COVID-19 outbreak. For example, Glenmark Pharmaceuticals' antivirus medicine Favipiravir (Fabiflu), licensed on 22nd June 2020 to cure mild to medium COVID-19 victims, has been launched full scale per week. The antiviral was licensed by India's Drug Chief Directorate for restricted urgent use' to cure light to medium cases, which accounted for the majority of COVID-19 diagnoses.
Industry Dynamics
Growth Drivers
The gout therapeutics market is primarily driven by the increasing prevalence of this condition due to changing lifestyle patterns and the growing geriatric population. Globally, the life expectancy of people is increasing, which has led to a rise in the geriatric population. This trend has led to a higher incidence of this condition and per capita demand for its therapeutics, thus positively affecting their industry.
As a result of the increased incidence of gout and the link between alcohol intake and gout, higher alcohol intake is likely to fuel the expansion of the gout therapeutics market over the projected period. Other factors projected to affect therapeutics industry volume growth in the future favorably include an increase in clinical studies and the frequency of FDA certifications for gout therapeutics. Nevertheless, concerns such as the treatments' side effects may limit the industry's expansion.
Report Segmentation
The market is primarily segmented on the basis of drug class, disease condition, and region.
|
By Drug Class |
By Disease Condition |
By Region |
|
|
|
Know more about this report: request for sample pages
Insight by Drug Class
In 2021, the NSAIDs sector had the highest revenue share. This is owing to the great accessibility of NSAIDs, their low cost relative to other pharmacological classes, and their ability to relieve pain in the case of a severe attack. NSAIDs are the first-line drugs used to decrease the inflammation and the associated pain of rheumatic and non-rheumatic diseases. The rising number of gout patients, low cost of drugs, and application in combination therapy are likely to drive the industry.
The growth of the colchicine segment is also significant based on its efficacy and growing product development activities. For instance, in February 2019, ROMEG therapeutics received FDA approval of GLOPERBA (colchicine) for prophylaxis of adult gout flares.
Insight by Disease Condition
Compared to other illness segments, the chronic segment is predicted to account for the biggest revenue share throughout the projection period. The category includes urate-lowering drugs, including xanthine oxidase agents and uricosuric pharmaceuticals, and the industry for this sector is being driven by the release of numerous urate-lowering drugs and perhaps a number of treatments in the market.
Geographic Overview
North America dominated the market and is expected to maintain its dominance over the forecast period. Gout is common in most countries in North America, affecting around 8.3 million people in the United States, with prevalence in the 1–4% range. The prevalence of gout is higher in African Americans as compared to Caucasians, with increasing prevalence overall across all demographics. The U.S. accounted for the highest share in the North American region for this industry.
The market is projected to be driven by an increase in the percentage of passive smokers and an aging population. Furthermore, rising healthcare expenditures and demand for technically sophisticated treatments and services, and increased government backing are expected to boost the market in this region.
However, Asia Pacific is expected to observe the fastest growth during the forecast period due to the increasing investment of market players in the region, rising awareness and healthcare spending, and expected entry of drugs in the region. Furthermore, rising patient pool, increasing investment by major players in the region, and rising adoption of the therapy are also fueling the growth of this regional segment. Moreover, increasing prevalence of smoking & alcohol consumption and stressed lifestyle are likely to boost the incidence during the forecast period.
Competitive Landscape
The gout therapeutics market is robust and fragmented, with a number of prominent companies. Few big firms presently dominate the industry in terms of the industry share. Few additional firms are likely to enter the industry in the approaching years, given the rising incidence of instances worldwide.
Some of the major players operating in the global therapeutics market include Ablynx, Antares Pharma, Astellas Pharma, AstraZeneca, Boehringer Ingelheim, CymaBay Therapeutics, Eisai, Eli Lilly, GlaxoSmithKline, Horizon Pharma, JW Pharmaceutical, LG Life Sciences, Merck, Novartis, Novo Nordisk, Regeneron Pharmaceuticals, Sandoz, Sanofi, Takeda Pharmaceuticals, Teijin Pharma, and Vertex Pharmaceuticals.
Gout Therapeutics Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2021 |
USD 2.78 Billion |
|
Revenue forecast in 2029 |
USD 7.63 Billion |
|
CAGR |
13.7% from 2022 - 2029 |
|
Base year |
2021 |
|
Historical data |
2017 - 2020 |
|
Forecast period |
2022 - 2029 |
|
Quantitative units |
Revenue in USD million/billion and CAGR from 2022 to 2029 |
|
Segments covered |
By Disease Condition, By Drug Class, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Key Companies |
Ablynx, Antares Pharma, Astellas Pharma, AstraZeneca, Boehringer Ingelheim, CymaBay Therapeutics, Eisai, Eli Lilly, GlaxoSmithKline, Horizon Pharma, JW Pharmaceutical, LG Life Sciences, Merck, Novartis, Novo Nordisk, Regeneron Pharmaceuticals, Sandoz, Sanofi, Takeda Pharmaceuticals, Teijin Pharma, and Vertex Pharmaceuticals. |
License and Pricing
Purchase Report Sections
- Regional analysis
- Segmentation analysis
- Industry outlook
- Competitive landscape
Connect with experts
Suggested Report
- Artificial Intelligence in Cancer Diagnostics Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030
- Financial Planning Software Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030
- Sports Technology Market Share, Size, Trends, Industry Analysis Report, 2021 - 2028
- Halal Food Market Research Report, Size & Forecast, 2018 – 2026
- Indoor Location Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030
© 2022 Polaris Market Research and Consulting. All rights reserved
