New York, United States , May 25, 2023 (GLOBE NEWSWIRE) -- The Global Gout Therapeutics Market Size is to grow from USD 2.1 billion in 2022 to USD 7.1 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 12.7 % % during the forecast period.
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Gout is an inflammatory condition that primarily affects males over 40 who have high blood levels of uric acid. The chemical can significantly aggravate joint pain, inflammation, and stiffness by forming crystals that resemble needles. Gout is a complex kind of arthritis that affects the joints and is characterized by excruciating pain, stiffness, and redness. There are several ways to treat and prevent gout symptoms, which might differ from person to person. NSAIDs or corticosteroids can be used to treat the condition's discomfort and inflammation. Intense pain, swelling, redness, and sensitivity in one or more joints, most frequently the big toe, characterize it. It often occurs in females following menopause. Because they have higher uric acid levels during the bulk of their lives, males are three times more likely to develop it than women. After menopause, women achieve these uric acid levels.
The gout treatment market is being driven by the rising occurrence of gout as a result of aging populations and changing lifestyle patterns. The number of the elderly has grown as a result of an increase in life expectancy worldwide. This trend has increased the incidence of this condition and increased the per capita demand for its medications, both of which have been beneficial to their company. Recently released biologics include Krystexxa, Canakinumab, and Rilonacept. In addition, rising adoption of these biologics is anticipated to fuel the market over the forecasted period because of their ability to have a considerable anti-inflammatory impact. In addition, several other drugs now undergoing clinical trials are anticipated to be released over the projection period, thereby boosting the industry. Furthermore, Gout is usually inadequately or incorrectly diagnosed, which causes therapy to be postponed or inadequate. Additionally, a lack of knowledge about the symptoms and side effects of gout among patients and medical professionals may keep the market for gout drugs stagnant. Gout is also linked to lifestyle factors including diet, alcohol use, and obesity.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Gout Therapeutics Market Size, Share, and COVID-19 Impact Analysis, By Drug Class (Non-steroidal Anti-Inflammatory Drugs (NSAIDs), Corticosteroids, Colchicine, anti-hyperuricemic Agents (Urate-Lowering Drugs), By Disease Condition (Acute Gout, Chronic Gout), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032." Get Detailed Report Description Here:
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The anti-hyperuricemic agents (urate lowering Agents) segment is influencing the market with the largest market share over the forecast period.
The market for encephalitis vaccines is divided into several categories based on the pharmacological class used, including non-steroidal anti-inflammatory medicines (NSAIDs), corticosteroids, colchicine, and anti-hyperuricemic agents (drugs that lower urate). The anti-hyperuricemic Agents (urate-lowering agents) sector generated the most income out of all of them over the forecasted period. Antigout drugs are frequently used interchangeably with anti-hyperuricemic drugs. Due to factors including the rising use of these pharmaceuticals to treat gout, the anti-hyperuricemic agent market is anticipated to grow significantly over the projected period. Antihyperuricemic drugs reduce blood uric acid levels by either boosting urine uric acid excretion or reducing the synthesis of excess uric acid.
The chronic segment is dominating the largest market growth during the forecast period.
On the basis of disease condition, the global gout therapeutics market is classified into acute gout and chronic gout. The chronic sector is anticipated to generate the largest revenue share of these over the forecast period. This group of pharmaceuticals includes urirate-lowering xanthine oxidase inhibitors and uricosurics. The market is expected to grow at the fastest rate during the projected period due to the release of urate-lowering drugs and the anticipated entry of pipeline pharmaceuticals.
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North America is leading the market with the largest market growth over the forecast period.
North America made up the greatest portion of the global market, due to the expanding gout prevalence, the region's established healthcare infrastructure, and rising healthcare costs, North America made up the greatest portion of the global market. The Organization for Economic Cooperation and Development (OECD) estimates that in June 2022, healthcare spending in the US accounted for 17.8% of GDP. This is partly because there is considerable local participation, gout therapy is widely used, and brand-name drugs are expensive in the US. The region is expected to maintain its dominance during the projected period due to the anticipated introduction of urate-lowering medications in the area.
Asia Pacific is predicted to grow fastest over the next few years, owing to an expanding patient base, increased investment by significant rivals in the region, and growing gout treatment use. Furthermore, it is anticipated that during the projected time, there would be a rise in the prevalence of smoking, alcohol use, and a stressful lifestyle.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in Global Gout Therapeutics Market include Lannett Company, Inc, Boehringer Ingelheim, GlaxoSmithKline PLC, Horizon Therapeutics plc, Viatris, Novartis International AG, Regeneron Pharmaceuticals, Romeg Therapeutics, LLC., Takeda Pharmaceutical Company Ltd, Teijin Pharma Ltd, and Others.
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Recent Development
In August 2022, A new drug candidate for the treatment of gout has been developed in collaboration with Ginkgo Bioworks, a top horizontal platform for cell programming, as reported by Synlogic, Inc., a clinical-stage biotechnology company that uses its unique synthetic biology approach to develop medications for metabolic and immunological diseases.
In March 2022, Strides Pharma's Colchicine tablets USP, 0.6 mg, have been certified by the US Food and Drug Administration for the treatment and prevention of gout.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Gout Therapeutics Market based on the below mentioned segments:
Global Gout Therapeutics Market, By Drug Class
- Non-steroidal Anti-Inflammatory Drugs (NSAIDs)
- Corticosteroids
- Colchicine
- anti-hyperuricemic Agents (Urate-Lowering Drugs)
Global Gout Therapeutics Market, By disease condition
- Acute Gout
- Chronic Gout
Gout Therapeutics Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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