Gout Therapeutics Market Analysis Covering Size, Share, Growth, Trends and Upcoming Opportunities
The gout therapeutics market can be segmented on the basis of drug class, disease and region. On the basis of drug class, it is sub-segmented into corticosteroids, colchicine, urate-lowering agents and NSAIDs. On the basis of disease, it is sub-segmented into chronic gout and acute gout. Non-steroidal anti-inflammatory drugs (NSAIDs) is anticipated to have dominant market shares, whereas, Colchicines is anticipated to have significant growth in overall drug class segment. The gout therapeutics industry is majorly concentrating on helping patients to cure gout disease effectively, which in turn is anticipated to be the major reason for the overall growth of the market.
The global gout therapeutics market is anticipated to expand at a CAGR around 15.7% during 2019-2027. Rising consumption of alcohol and increasing old population around the world are the prime factors which are augmenting the growth of the market. Factors such as increasing adoption of combination therapies, growing incidence of metabolic disorders and proper reimbursement policies are anticipated to augment the growth of the market over the forecast period. Apart from that, rising rate of smoking among the population is also estimated to boost the market revenue in upcoming years.
By region, the global gout therapeutics market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to have the maximum share in the overall market on account of increasing adoption of gout therapy, rising investment in the healthcare sector, presence of different prominent players and increasing prevalence of gout across the region. The Asia Pacific market is also expected to witness a significant growth which can be attributed to larger patient pool, advancement in the healthcare sector and higher investment by the countries including Japan, India and Malaysia which is further expected to drive the growth of the market.
Vibrant Growth of Global Gout Therapeutics Market
Increasing rate of geriatric population coupled with rising consumption of alcohol and cigarettes amongst population, higher investment in the healthcare sector, growing adoption of combination therapies and rising incidence of metabolic disorders are some of the major factors that are anticipated to augment the growth of the market.
However, the less awareness about gout therapeutics and its advantages over the conventional methods among the middle and low income countries around the globe might hamper the growth of the market over the forecast period.
The report titled “Gout Therapeutics Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global gout therapeutics market in terms of market segmentation by drug class, by disease and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global gout therapeutics market which includes company profiling of key companies such as GlaxoSmithKline plc, Novartis AG, Savient Pharmaceuticals, AstraZeneca plc, Merck& Co. Inc., Regeneron Pharmaceuticals, Teijin Pharma Ltd., Takeda Pharmaceutical Company Limited, Celgene and Alder Biopharmaceuticals among other prominent players. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global gout therapeutics market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.