Gout Disease Treatment Market To Find Better Growth with US$ 4,273.4 Million By 2027 | CAGR: 6.7%: Coherent Market Insights
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The global gout disease treatment market, by Drug Class (Nonsteroidal Anti-inflammatory Drugs (NSAIDs), Corticosteroids, Colchicine, Urate-lowering Agents, and Monoclonal Antibody), by Route of Administration (Oral and Injectable), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 2,385.7 million in 2018 and is expected to exhibit a CAGR of 6.7% during the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
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The global gout disease treatment market growth is expected to be driven by rising number of regulatory approvals for anti-gout drugs over the forecast period. For instance, in February 2019, ROMEG Therapeutics received the U.S. FDA approval for Gloperba, a colchicine oral solution 0.6mg/5 ml. It is the first oral liquid solution of colchicine approved by the U.S. FDA. This drug is used to prevent or treat gout attack. Moreover, in December 2015, AstraZeneca received the U.S. FDA approval for ZURAMPIC (lesinurad) 200 mg tablets. This drug, in combination with a xanthine oxidase inhibitor (XOI), is useful for the treatment of hyperuricemia associated with gout.
Browse 32 Market Data Tables and 35 Figures spread through 182 Pages and in-depth TOC on ‘Gout Disease Treatment Market, by Drug Class (Nonsteroidal Anti-inflammatory Drugs (NSAIDs), Corticosteroids, Colchicine, Urate-lowering Agents, and Monoclonal Antibody), By Route of Administration (Oral and Injectable), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2027′
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There is rising adoption of inorganic growth strategies such as collaboration by key players operating in the pharmaceutical industry, which is driving the global gout disease treatment market growth. For instance, in September 2019, Simcere Pharmaceutical Group and JW Pharmaceutical entered into a collaboration and exclusive license agreement for the development of anti-gout drug candidate URC-102 in China. Moreover, in January 2019, Horizon Pharma plc and HemoShear Therapeutics, LLC entered into a collaboration agreement to develop novel therapeutics for gout.
Moreover, the market growth is also expected to be driven by factors such as rising number of pipeline products in the market. For instance, in February 2017, the University of Alabama at Birmingham in collaboration with University of Auckland, New Zealand initiated phase 2 clinical trial to study the safety and efficacy of Denosumab, a fully human monoclonal antibody with a high affinity for RANKL, in addition to urate-lowering therapy (ULT), for the treatment of bone erosion associated with gout disease. This study is expected to be completed by February 2020. Therefore, such factors are expected to fuel the gout disease treatment market growth over the forecast period.
Key Takeaways of the Global Gout Disease Treatment Market:
- The global gout disease treatment market is expected to exhibit a CAGR of 7%during the forecast period (2019–2027). This is attributed to rising initiatives taken by key players to develop effective drugs for the treatment of gout. For instance, in February 2020, Dyve Biosciences, Inc. initiated phase 2 clinical trial to demonstrate the safety and efficacy of DYV700 (drug candidate) after topical application, for the treatment of acute gout flares.
- Furthermore, rising regulatory approvals for anti-gout drugs is expected to boost growth of the market during the forecast period. For instance, in September 2014, Hikma Pharmaceuticals received the U.S. FDA approval to commercialize its Mitigare, a colchicine capsule, to prevent gout attack.
- Some of the key players operating in the global gout disease treatment market include AstraZeneca Plc, Takeda Pharmaceutical Company Limited, Novartis International AG, Teijin Pharma Limited, Simcere Pharmaceutical, JW Pharmaceutical Corporation, Horizon Therapeutics plc., Hikma Pharmaceuticals Plc, Ironwood Pharmaceuticals, Inc., CymaBay Therapeutics, Inc., and Zyla Life Sciences
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