Global Gout Therapeutics Market Highlights Over 2022 - 2031

The global gout therapeutics market catered an approximate revenue figure of USD 2.9 billion in the year 2021 and is estimated to grow at ~16% CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can majorly be attributed to the growing geriatric population as gout is the most common disease among elderly. Moreover, the rising trend of alcohol consumption, as well as an unhealthy lifestyle followed by the mass are considered to be another primary reason for the increasing incidences of gout disease. Besides, the developing healthcare infrastructure and growing investment in the field of research & development (R&D) on regeneration therapies are most likely to influence the market growth. As stated by the Hospital for Special Surgery, gout is mostly genetically inherited, and its prevalence is more common on men than women by a ratio of nearly 3:1.

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Gout is a complex form of arthritis that can develop unannounced at any point of time. The main reason behind the disease is the formation of a high level of uric acid in the blood which triggers the formation of gout in the joints causing sheer pain, swelling, redness, and tenderness. The excess quantity of purines in the body causes uric acid to crystallize the joints resulting in inflammation and pain.

The global gout therapeutics market is segmented on the basis of drug class, disease type, and treatment. Out of these, the drug class segment is further divided into corticosteroids, colchicine, urate-lowering agents, and non-steroidal anti-inflammatory drugs (NSAIDs). The NSAIDs segment is anticipated to hold the largest market size in value by growing at a modest CAGR during the forecast period. Non-steroidal anti-inflammatory drugs (NSAIDs) are popularly used in order to relieve pain, reduce inflammation, work as anti-clotting agent, and also to bring down a high body temperature. The growth of the segment can be attributed to variety of uses of the drug, easy availability, and commendable functionality.

Global Gout Therapeutics Market Regional Synopsis

Regionally, the global gout therapeutics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America witnessed major growth in the year 2021 on the back of better healthcare facilities and awareness among the affected population about therapy. On the other hand, Asia Pacific is estimated to witness moderate growth by growing at a higher CAGR over the forecast period. The growth of the market can be attributed to the growing patient pool and rising geriatric population in the region. Furthermore, the investment made by government as well as private companies in promoting awareness for the medicines is anticipated to add in the market growth. Besides, initiatives taken by government to spread awareness about the treatment among people is estimated to be another reason for growth of the market in this region. Additionally, unhealthy lifestyle practices such as smoking, alcohol consumption, unhealthy diet, stressed lifestyle, and minimum exercise are few factors projected to drive the growth of the market. According to the statistics by the World Bank, in the year 2018, 10 liters of pure alcohol were consumed by a male per capita above the age of 15 in the East Asia & Pacific region.

Market Segmentation

Our in-depth analysis of the global gout therapeutics market includes the following segments:

By Drug Class

• Corticosteroids

• Colchicine

• Urate-Lowering Agents

• Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)

By Disease Type

• Chronic

• Acute

By Treatment

• Xanthine Oxidase Inhibitor

• Uricosuria Medication

Growth Drivers and Challenges Impacting the Growth of the Global Gout Therapeutics Market

Growth Drivers

• Rise in geriatric population

• Unhealthy lifestyle

• Greater influence of alcohol consumption

• Extensive investment in R&D

• Development in healthcare infrastructure

Challenges

• Lack of awareness about treatment

• Concern for side effects of treatment

Key Companies Dominating the Global Gout Therapeutics Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global gout therapeutics market that are included in our report are Novartis AG, AstraZeneca PLC, Regeneron Pharmaceuticals Inc., Teijin Pharma Limited, Merck & Co., Inc., GlaxoSmithKline plc, Bristol-Myers Squibb Company, Lannett Company, Inc., Horizon Therapeutics plc, Viatris Inc., and others.

Latest Developments in the Global Gout Therapeutics Market:

• 07 March 2022: KRYSTEXXA plus methotrexate, a product developed by Horizon Therapeutics plc, has received the priority review grant for the supplemental Biologics License Application (sBLA), by the U.S Food and Drug Administration (FDA). The goal of the product is to treat patients with severe cases of gout.

• 16 November 2020: Mylan N.V and Pfizer's Upjohn business together formed a company named Viatris Inc. This new company aims to provide easy access to medicines and improve the health of patients, and further provide treatment across a wide range of therapeutic areas including gout.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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