Value of Gout Therapeutics Market Estimated at US$ 4.9 Bn by 2031, TMR Study
- Long use of NSAIDs, glucocorticoids, colchicine as prophylaxis to initiate urate-lowering therapy points their significance as first-line treatment for acute gout
- Increasing occurrence of complex cases of gout, particularly secondary gout, underpins strong demand, expanding the gout therapeutics market size
WILMINGTON, Del., Sept. 7, 2022 /PRNewswire/ -- Analysts at TMR estimate the gout therapeutics market to rise at a CAGR of 8.4% during the forecast period from 2022 to 2031. Statistics of increasing prevalence of gout in the last few decades is driving the gout therapeutics market. Lack of adequate gout management in primary care, is anticipated to lead to occurrence of clinically significant symptomatic gout, thereby propelling the gout therapeutics market development.
Gout incidence increases with age; hence, growing aging population is likely to increase the incidence of gout. According to published data, gout prevalence is registered 11 % to 13% and incidence registered 0.4% in people over the age of 80 years.
Gout is becoming more common, and hence newer drugs at various stages of clinical development for targeting different inflammatory mediators, enzymes, or transporters are shaping gout therapeutics market trends. Companies in the gout therapeutics market are gaining from clinical demand of several drugs that have moderate-to-high evidence to provide pain relief for patients of gout.
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Gout Therapeutics Market – Key Findings of the Report
- Nonsteroidal anti-inflammatory drugs (NSAIDs) drug segment held the leading share of gout therapeutics market in 2021. Robust demand for NSAIDs such as indomethacin and naproxen for majority of acute gout attacks catalyzes growth. Furthermore, high doses of fast-acting NSAIDs that provides the quickest symptom relief strengthens demand.
- Vast clinical use of urate-lowering drugs, as the first line of therapy or in combination therapy for symptomatic treatment of gout arthritis garners attractive revenue. Higher adoption of urate-lowering drugs in comparison to biologics for the treatment of people suffering from acute or chronic gout diseases demonstrates demand
- Hospital pharmacies distribution channel segment held a significant share of the gout therapeutics market in 2021. The segment is anticipated to garner attractive share during the forecast period. Increasing incidence of moderate to severe gout arthritis among the ageing population who require hospital pharmacy fuels growth of the segment
- Online pharmacies segment is anticipated to display rapid growth in the gout therapeutics market during the forecast period. Increasing number of online pharmacies, and approval of several gout therapeutic drugs to be sold over the counter for medical therapy are projected to stimulate the online pharmacies segment.
- North America held the leading gout therapeutics market share in 2021, and is anticipated to account for attractive share during the forecast period. Gout is registered to be the most common inflammatory arthritis in the U.S. Vast use of oral urate-lowering therapies for treatment of large population with gout in the country creates opportunities in gout therapeutics market in the region.
- Asia Pacific gout therapeutics market is expected to rise at a rapid pace during the forecast period. Steady rise in the prevalence and incidence of gout in the region, leading to increasing R&D for gout diagnosis and gout treatment is fueling the growth of gout therapeutics market in the region.
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Gout Therapeutics Market – Growth Drivers
- Increasing investment in R&D for the effective management of gout fuels the growth of gout therapeutics market
- Need to tailor treatment for gout depending on comorbidities, personal preference, and other factors creates opportunities in gout therapeutics market
Gout Therapeutics Market – Key Players
Some of the key players operating in the gout therapeutics market are;
- Takeda Pharmaceutical Company Limited
- Novartis AG
- MERCK & CO. Inc.
- Hikma Pharmaceuticals plc
- Teva Pharmaceutical Industries Ltd.
- Teijin Pharma Limited
- Mylan N.V.
- Iroko Pharmaceutical LLC
- Horizon Therapeutics
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The gout therapeutics market is segmented as follows;
Gout Therapeutics market, by Drug Type
- Urate-lowering Drugs
Gout Therapeutics market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Gout Therapeutics market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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