Gout Therapeutic Market Size by Drug Type, Distribution Channel, Disease Type, Region, Industry-Wide Analysis, Competitive Landscape Assessment & Long-Term Forecast to 2029
Overview
Gout Therapeutic Market is expected to grow at a CAGR of 15.5% during the forecast period and market is expected to reach US$ 12 Bn. by 2029.
Gout is a form of inflammatory arthritis characterized by recurrent attacks of a red, tender, hot, and swollen joint. Pain typically comes on rapidly, reaching maximal intensity in less than 12 hours. Gout is due to persistently elevated levels of uric acid in the blood. This occurs from a combination of diet, other health problems, and genetic factors.
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Gout Therapeutic Market key segmentation
The urate lowering agents drug type is projected to grow at a faster rate among all the covered drug types. These agents are characterized majorly by the existence of xanthine oxidase inhibitor and uricosuric agents. Introduction of various drugs and growing preference towards adoption of this treatment is also expected to drive the growth in this industry.
The online pharmacy segment is likely to expand at a rapid pace during the forecast period. Increase in the number of players by online pharmacy segment and acceptance of several gout therapeutics as over-the-counter drugs in the medical therapy to fulfill the rising demands of health care market are projected to boost the online pharmacy segment.
Non-steroidal anti-inflammatory drugs (NSAIDs) was observed to be the dominant drug type in this market during 2018. Its cost effectiveness as compared to other drugs and easy availability in the market is another factor supporting the growth of this drug class during the forecast period.
Drivers and Restrains
High share hold by the hospitals pharmacy segment is attributed to the increase in geriatric population with moderate to severe gout arthritis requiring hospital pharmacy to purchase drugs is considered to be the prominent factor fueling the market. Rising preference for combination therapies due to benefits such as speeding up the treatment process, reduction in side effects are also another factors enhancing the market growth. The incidence of gout has increased to a great extent in the past two decades.
Stringent regulations and patent expiry of various blockbuster drugs are key restraints for the global Gout disease treatment market. Increasing mergers and collaborations between major companies and rapid product launches are major factors boosting the global Gout disease treatment market. Higher penetration of urate lowering drugs, as compared to biologics, into the gout therapeutics market for the treatment of people suffering from chronic or acute gout diseases propel the urate-lowering drugs segment.
Increased adoption of biologics, R&D on regenerative medicines and technological advancements in imaging modalities improving the gout understanding and clinical applications ultimately driving the global gout therapeutic market. Lifestyle factors such as increasing smoking prevalence & alcohol consumption and stressed lifestyle is likely to boost the incidence of gout over the period, 2022-2029.
Regional Analysis
North America held highest share of global gout therapeutic market 2018. High prevalence of gout owing to lifestyle issues such as high alcohol intake, obesity, and smoking resulting in the inflammatory disorder responsible for increase growth rate. Europe is considered to be the second-largest and highly attractive market for gout therapeutics. The gout therapeutics market in the region is expected to expand at a high CAGR during the forecast period, Attributed to these factors along with the adoption of innovative treatments and increased understanding about arthritic conditions, the market in Europe region is observed to be the dominant market during forecast period. The gout therapeutics market in the U.K. is likely to expand at a rapid pace during the forecast period. The country is projected to retain its share of the gout therapeutics market from 2022 to 2029.
The objective of the report is to present comprehensive analysis of Global Gout Therapeutic Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Global Gout Therapeutic Market dynamics, structure by analyzing the market segments, and project the Global Gout Therapeutic Market size. Clear representation of competitive analysis of key players by Gout Therapeutic Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Gout Therapeutic Market make the report investor’s guide.
Gout Therapeutic Market Scope: Inquire before buying
| Global Gout Therapeutic Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2022 | Forecast Period: | 2023-2029 |
| Historical Data: | 2018 to 2022 | Market Size in 2022: | US $ 4.37 Bn. |
| Forecast Period 2023 to 2029 CAGR: | 15.5% | Market Size in 2029: | US $ 12 Bn. |
| Segments Covered: | by drug type | NSAIDs Corticosteroids Colchicine Urate-lowering agents |
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| by distribution channel | Hospital pharmacies Retail pharmacies Online pharmacies |
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| by disease type | Chronic Acute |
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Gout Therapeutic Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Gout Therapeutic Market Key players are:
1. AstraZeneca,
2. Horizon Pharma plc,
3. Takeda Pharmaceutical Company Limited,
4. GlaxoSmithKline plc,
5. Novartis AG,
6. Merck & Co. Inc.,
7. Teijin Pharma Limited,
8. Regeneron Pharmaceuticals, Inc.,
9. Ironwood Pharmaceuticals, Inc.,
10.JW Pharmaceutical,
11.Selecta Biosciences, Inc.,
12.Grunenthal Group.
13.Boehringer Ingelheim
14.Alder Biopharmaceuticals
15.Eli Lilly
16.Antares Pharma
17.KaloBios Pharmaceuticals
18.Astellas Pharma
19.Can-Fite BioPharma
20.Ironwood Pharmaceuticals
Frequently Asked Questions:
1. Which region has the largest share in Gout Therapeutic Market?
Ans: North America region held the highest share in 2022.
2. What is the growth rate of Global Gout Therapeutic Market?
Ans: The Global Gout Therapeutic Market is growing at a CAGR of 15.5% during forecasting period 2023-2029.
3. What is scope of the Global Gout Therapeutic market report?
Ans: Global Gout Therapeutic Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Gout Therapeutic market?
Ans: The important key players in the Global Gout Therapeutic Market are – AstraZeneca,, Horizon Pharma plc,, Takeda Pharmaceutical Company Limited,, GlaxoSmithKline plc,, Novartis AG,, Merck & Co. Inc.,, Teijin Pharma Limited,, Regeneron Pharmaceuticals, Inc.,, Ironwood Pharmaceuticals, Inc.,, JW Pharmaceutical,, Selecta Biosciences, Inc.,, Grunenthal Group., Boehringer Ingelheim, Alder Biopharmaceuticals, Eli Lilly, Antares Pharma, KaloBios Pharmaceuticals, Astellas Pharma, Can-Fite BioPharma, and Ironwood Pharmaceuticals
5. What is the study period of this market?
Ans: The Global Gout Therapeutic Market is studied from 2022 to 2029.