What Are the Driving Factors for the Growth of Gout Therapeutics Market?
- Growing rates of gout patients in the developing and developed countries
- Increasing usage of urate-lowering drugs used to control the Uric Acid level in the body
- Approval of several new urate-lowering drugs
|By Drug Type||Non-Steroidal Anti-Inflammatory Drugs, Colchicine, Corticosteroids, and Others|
|By Regions||North America, Asia-Pacific, Europe, Middle East & Africa and Latin America|
|Japan||Takeda Pharmaceutical Co. Ltd.|
|Ireland||Horizon Pharma Plc|
|The U.S.||XOMA, Ltd.|
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Gout Therapeutics Market - Introduction
The global gout therapeutics market is expected to grow at a fast pace during the forecast period 2017 to 2025. In the gout therapeutics market report, the market is segmented based on drug type and region. Gout can be termed as a variant of arthritis and can either be acute or chronic. Gout is the formation of uric acid crystals in joints, which is again caused by hyperuricaemia or high levels of uric acid in the blood. The formation of crystals leads to pain, swelling, and tenderness of the joint among others. Gout is most prevalent in men and common causes include obesity, high quantities of alcohol consumption and rise in consumption of purine-rich proteins among others. Gout therapeutics market research report covers all the different types of drugs used for the treatment of gout. The growing gout patient pool has been primarily driving the gout therapeutics market revenue and volume, followed by the introduction of gout therapeutics having higher safety and efficacy.
|Base Year of Estimation||2016|
|Value Estimation Year||2017|
|Forecast Period||2017 - 2025|
|Market Segmentations||By Drug Type, Regions|
|Regional Scope||North America, Asia-Pacific, Europe, Middle East & Africa and Latin America|
|Report Coverage||Market Dynamics, Segmentation Overview and Competitive Landscape of the market|
Studies reveal that the prevalence of gout has been growing at a high pace, mostly in developed nations. The prevalence rate in developed nations ranges from 1.2% to above 4.0%, of which almost 80% is male. The prevalence rate in developing nations range between 0.3% to 1.8% but is growing at a fast pace. Such growing rates of gout patients have been primarily driving the growth of gout therapeutics market size.
The growing usage of urate lowering drugs, used for lowering the overall uric acid level in the body, is a relatively new trend in the gout therapeutics market and has been another factor which has been positively impacting the growth of the market. These drugs are being increasingly prescribed by physicians, as a standalone treatment or in combination with traditionally prescribed gout medications. Certain urate lowering drugs, such as pegloticase, are only used as third-line therapy since they have higher rates of side effects.
Complementary and alternative medicines (CAM) has been a major restraining factor for the gout therapeutics market and is also expected to have a negative impact during the forecast period. However, the approval of several new urate-lowering drugs is expected to negate such restraints for the gout therapeutics market and is also expected to offer good growth opportunities. Additionally, since gout patients can only receive symptomatic treatments and cannot be cured completely, the growing patient population is expected to increase the growth opportunities for gout therapeutics market.
By drug type, the global gout therapeutics market is segmented into non-steroidal anti-inflammatory drugs (NSAIDs), colchicine, corticosteroids, and others. Others segment includes urate-lowering drugs. NSAIDs are mostly recommended by physicians while Colchicine has been reported to have high rates of side effects. The combination of all these therapies are also suggested by physicians, depending on the patients’ condition and symptoms are instrumental in the gout treatment market’s growth.
By geography, the market has been segmented into Asia-Pacific, North America, Middle East & Africa (MEA), Europe and Latin America. In terms of revenue, North America accounted for the largest market share of the gout therapeutics market, followed by Asia-Pacific. The presence of a high patient pool and a large number of pharmaceutical companies are the primary growth driver for the North American market for gout therapeutics.
Major companies operating in the gout therapeutics market are AstraZeneca Plc (England), Takeda Pharmaceutical Co. Ltd. (Japan), Horizon Pharma Plc (Ireland), XOMA, Ltd. (The U.S.), and 3SBio, Inc. (China) among others.
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