Global Gout Therapeutic Market is estimated to value over USD 2.8 billion by 2026 end and register a CAGR of over 8% during the forecast period 2019 to 2026.
Gout can be attributed to the accumulation of uric acid in the human body. Uric acid creates crystals in the joints, which will cause inflammation, followed by the pain of a gout attack. When the level of uric acid rises, it will heighten the chances of gout attacks.
The shifts in the lifestyles of people has meant that there is a strong presence of gout on a global scale. This has led to a sizeable global gout therapeutic market share. Factors such as the exponential rise in kidney diseases, the volume of obesity cases, the high levels of alcohol consumption, diets that are high in purine and trends in the consumption of certain drugs namely diuretics will, in all likelihood, fuel the global gout therapeutic market growth. Judging by market analysis, the growing acceptance of biologics can be attributed to certain features such as the potential to produce anti-inflammatory action that will be instrumental in the augmentation of the global gout therapeutic market size. In addition, there are certain drugs which are undergoing clinical tests and the introduction of such drugs is anticipated to gain significant traction in the market. However, issues such as stringent guidelines and patent expiry of certain drugs may prove to be potentially detrimental to the global market.
Drugs such as corticosteroids and NSAIDs count as some of the regulated and sanctioned drugs in the treatment of gout illness and are easily acquired over the counter. Such drugs are found to act positively in the gout condition and are registered to exhibit robust growth in the gout therapeutic market. Furthermore, opting for combination therapies because of the speedy treatment process as well as reduced side effects are factors which are projected to advance the market growth.
It has been observed that manufacturers are allowing for implementation of strategies such as collaborations and acquisitions as well as innovations in new products. Such strategies are undertaken to meet the needs of the extensive volume of patients. The regions of North America and Europe that are in control of the global market for gout therapeutics, owing to the progressive developments in pharmaceutical research. North America counts as one of the key players in this market, in part, because of the rise in the level of geriatric population. In addition, the US dominates a great deal of the market share across North America. As a result of the rise in regional awareness regarding the disease, the region of Asia Pacific is estimated to experience a large growth spur over the forecast time frame.
Some companies which have been making strides in the gout therapeutic market is Ironwood Pharmaceuticals,Inc. They have launched an oral treatment known as Duzallo, for hyperuricemia that is linked with gout in patients who have not been able to acquire the anticipated levels of serum uric acid with a medically adequate dosage of allopurinol.
Other such companies include HemoShear Therapeutics, LLC, and Horizon Pharma plc have begun a collaboration with an objective to introduce new gout therapeutics. Their endeavors also include offering adequate treatment methods for gout, as well as that of uncontrolled gout. HemoShear Therapeutics, LLC, observes biological targets and facilitates drug programs in the treatment of metabolic disorders with considerable unaddressed patient needs. HemoShear’s endeavor known as ‘Reveal-Tx’, allows for HemoShear to establish an efficient human disease model to investigate the dynamics of disease and accordingly, utilize those discoveries by testing and treating drug candidates, which, in turn, will predict which drug will be suitable and treats the patients successfully. HemoShear’s drug discovery program place emphasis on methylmalonic acidemias, nonalcoholic steatohepatitis (NASH) and propionic.
Major players who are controlling this market includes Teijin Pharma Limited, Horizon Pharma plc, Novartis AG, Merck & Co. Inc., Ironwood Pharmaceuticals, Inc., Grunenthal Group, JW Pharmaceutical, Takeda Pharmaceutical Company Limited, Selecta Biosciences, Inc., AstraZeneca, Regeneron Pharmaceuticals, Inc
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Global Gout Therapeutic Market Segmentation:
By Component
• Colchicine
• Antihyperuricemic agents (Urate-Lowering Drugs)
• Non-steroidal Anti-inflammatory Drugs (NSAIDs)
• Corticosteroids
• Biologic Response Modifiers (Biologics)
By Distribution Channel
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
By Region
• Europe
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
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FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global gout therapeutic market by component, by distribution channel, and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East & Africa
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
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