Gout Therapeutics Market Share, Opportunities, Industry 2030

Report Description

The global gout therapeutic market size is estimated to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing biologics usage and growing R&D activities on regenerative drug as well as advanced technology in imaging modalities. Moreover, the high prevalence of gout caused by excessive alcohol consumption presents a key insight of the market expansion.

Gout is a severe form of arthritis that causes joint pains in several body parts including feet, ankles, kneels, wrists, heels, hands, and elbows. Redness, severe pain, and soreness in the joints are some of the main symptoms of gout. There are a variety of treatment options available in the market for gout and these treatments aid in lowering uric acid levels in the body as well as improving the kidneys' ability to eliminate uric acid through urine. According to the Australian Bureau of Statistics and the National Health Survey 2017-2018, there were 187,000 people suffering from gout in Australia, which was around 0.8% of the total population of the country. Moreover, males are more likely to develop gout than females.

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The COVID-19 pandemic outbreak has resulted in unforeseen consequences such as significant delays in disease detection and treatment. On the other hand, hospitals and healthcare services were drastically curtailed owing to quarantine and social distancing precautions imposed by several governments worldwide. In addition, the COVID-19 pandemic had a significant adverse impact on the functioning of hospital treatment for non COVID-19 patients in hospitals.

Market Trends, Drivers, Restraints, and Opportunities

• Improvement in the area of biologics and growing implementation of these drugs based on their ability to produce powerful anti-inflammatory action are expected to boost the market growth.
• Rising consumption of certain medications such as diuretics, changing lifestyle pattern and increasing geriatric population are another factor fueling the market expansion.
• Increasing number of product approvals along with private & public funding are some of the factors surging the market growth.
• Expiring robust product patent, highly competitive key players in the generic drug sector, and high cost associated in newly launched drugs are likely to hamper the market growth in the coming years.
• Focusing on regenerative drugs and the preference for combination therapy are projected to create numerous opportunity for the market growth in the near future.

Scope of Gout Therapeutics Market Report                 

The report on the global gout therapeutic market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Gout Therapeutics Market Segment Insights

Nonsteroidal anti-inflammatory drugs segment is expected to grow at a rapid pace

Based on drugs, the global gout therapeutic market is segmented into colchicine, corticosteroids, non-steroidal anti-inflammatory drugs, urate-lowering drugs, and others. The nonsteroidal anti-inflammatory drugs segment is expected to grow at a rapid pace in the coming years due to the high level of medicine penetration, low cost in contrast to other classes of pharmaceuticals, and the capacity to reduce pain in the event of a severe gout attack.

On the other hand, the urate-lowering drugs segment is projected to account for a large market share during the projected period as the uric acids are wide used as the most popular alternative therapy. Xanthine oxidase inhibitors such as allopurinol and febuxostat, and uricosuric medicines such as benzbromarone, probenecid, and sulfinpyrazone are some of the most commonly used drugs in this segment.

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Chronic gout segment is projected to expand at a considerable CAGR

On the basis of diseases, the market is bifurcated into chronic gout and acute gout. The chronic gout segment is projected to expand at a considerable CAGR during the targeted period due to the growing commercialization of various drugs for chronic conditions. Furthermore, urate-lowering medicines such as xanthine oxidase inhibitors and uricosuric agents are included in this segment. Colchicine, non-steroidal anti-inflammatory drugs (NSAIDs), and corticosteroids are used in the acute phase. When compared to chronic therapies, this segment is estimated to gain a smaller share in the market due to low-cost medications, poor treatment adherence, and the drugs' ability to ease pain for a shorter amount of time.

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North America is anticipated to constitute a key market share

In terms of regions, the global gout therapeutic market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share in the coming years due to the presence of well-established market players, urate lowering agents, and expansive early stage introduction of medicines. Moreover, affordability for highly expensive biologics and presence of large patient base especially in the US present another key driver of the regional market growth. Gout is most common problems in North American countries, affecting around 8.3 million individuals alone in the US with a prevalence of the disease around 1–4% of the total population. Some of the major factors such as government initiatives to provide improved healthcare services to all citizens, advantageous reimbursement, existence of significant players, and increased adoption of high-cost therapies are fueling the market growth in the region.

The market of Asia Pacific, however, is expected to expand at a robust growth rate during the forecast period owing to the factors such as diverse patient pool as well as increased investment by big companies in local industries and hospital networks. With the existence of multiple high-growth economies such as India, China, South Korea, and other South Asian countries, the region is anticipated to witness a substantial market growth.

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