Gout Therapeutics Market Size Is Projected To Be Around $8 Billion By 2025
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A research study titled, “Gout Therapeutics Market by Product Type and Disease Condition - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the gout therapeutics market is projected to be around $8 billion by 2025.
Gout is the most common form of inflammatory arthritis worldwide. It is characterized by pain, redness and tenderness in joints. Gout is crystal-deposition disease due to over production of uric acid above saturation level leading to crystal formation. The incidence of gout has been increasing rapidly worldwide with every six individuals in 1,000 suffering from gout and its related complications based on study conducted by US National Health and Nutrition Examination Surveys (NHANES). Gout conditions are more prevalent in men between ages of 40 to 50 whereas in women chances of developing gout infections increases after onset of menopause. Hence, rising incidence of gout will demand more advanced drugs for treating gout and its related conditions. Gout therapeutic market is expected to witness significant growth due to rise in elderly population, rise in obesity and approval of effective gout therapies.
Non-steroidal anti-inflammatory drugs (NSAIDs) segment dominated the global market in 2016. This can be attributed to number of factors such as low cost of NSAIDs, easy availability, and ability to induce anti-inflammatory response faster than other available drugs for gout attacks. Additionally, introduction of advanced and new drugs (such as TMX 67, Krystexxa, and Zurampic) for gout treatment, increase in adoption rate of gout drugs, and huge investments for drug designing and development are set to further drive the demand for NSAIDS. Corticosteroids segment is expected to witness slow growth due to reoccurrence of gout attack after withdrawal of steroids/drugs. Urate lowering drugs segment has seen tremendous growth in last few years due to their ability of producing strong anti-inflammatory response by inhibiting xanthine oxidase.
In 2016, the global market was dominated by North America. This large share can be attributed to number of factors such as rise in incidence of gout infections and high adoption of technologically advanced products. European market is expected to grow at considerable CAGR during the forecast period, due to increased number of drug approvals. For instance, in February 2016, AstraZeneca’s product, Zurampic in combination of xanthine oxidase inhibitor, was approved by European Union. Therefore, introduction of urate-lowering agents in European market will drive the market growth.
Some of the major companies are Merck& Co. Inc.; GlaxoSmithKline plc; Teijin Pharma Ltd.; Regeneron Pharmaceuticals; Novartis AG; Savient Pharmaceuticals; Takeda Pharmaceutical Company Ltd.; and AstraZeneca plc. Market is expected to grow further by national and international collaborations and partnership for developing safety profile in treating such conditions. For instance, in Dec 2015, Horizon Pharma plc acquires Crealta Holdings LLC for developing and commercialization of medicines such as KRYSTEXXA for treating refractory gout disease.
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Key Findings of the Research Study:
- NSAIDs segment dominated the global market with almost two-fourth share in 2016, due to low cost and ability to produce strong anti-inflammatory response.
- Colchicine segment accounted for significant market share in 2016, due their ability to inhibit inflammatory action of Neutrophils.
- Chronic gout dominated the global market in 2016 owing to high prevalence of chronic gout infections worldwide.
- U.S. dominated the global market in 2016, due to high adoption of advanced drugs and treatment methods.
- Asia-Pacific is poised to grow at a high CAGR during the forecast period, owing to increase in population base suffering from gout infections and rise in adoption rate of gout therapies.
About Crystal Market Research
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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