Global Gout Therapeutics Market, By Drug Class (Non-Steroidal Anti-Inflammatory Drugs (Nsaids), Corticosteroids, Colchicine, and Urate Lowering Agents), By Disease Condition, (Acute and Chronic Gout) And Opportunities and Forecast 2020-2027.
Gout Therapeutics Market Overview
The gout therapeutics market is projected to witness a significant growth during the forecast period. The gout therapeutics market growth is driven by various driving growth factors, however growing geriatric population and increasing prevalence of gout, due to changing lifestyle pattern majorly influence the market growth. Increasing alcohol consumption, rising purine diet consumption, growth in cases of obesity and various health issues are results of changing lifestyle pattern.
Furthermore, continuous research and development activities focusing on innovating gout treatment agents and increasing awareness related to treatment of gout through therapies are further adding impetus to the market growth. Moreover, increasing adoption of biologics because of their ability to produce powerful anti-inflammatory action is likely to drive the market during the forecast period. Also, several other drugs that are in clinical trials currently are expected to be launched during the forecast period, and are likely to propel the industry.
However, patent expiry of blockbuster products, increasing competition in the generic sector, and high cost of the newly launched drugs are likely to hamper the growth of this market during the forecast period.
Covid-19 Impact on Gout Therapeutics Market:
In addition, the current Gout Therapeutics Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Gout Therapeutics Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Gout Therapeutics Market Segment Overview
Based on drug class, the market is segmented into Non-steroidal Anti-inflammatory Drugs (NSAIDs), corticosteroids, colchicine, and urate lowering agents. In 2019, NSAIDs accounted for the largest market share due to high market penetration, low cost, and large number of operating players in the segment. Urate lowering agent segment is expected to observe the highest growth during the forecast period from 2020 - 2026.
Based on disease condition, the global gout therapeutics market is segmented into acute and chronic gout. The chronic segment accounted for the largest market share in 2019. This is attributed to introduction or commercialization of various drugs for chronic gout and high cost of medicine. Urate lowering agents are utilized in chronic gout. Whereas, colchicine, NSAIDs, and corticosteroids are preferred in acute gout.
Market Analysis, Insights and Forecast – By Drug Class
Market Analysis, Insights, and Forecast – By Disease Condition
· Acute · Chronic Gout
Gout Therapeutics Market Regional Overview
The global gout therapeutics market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. In 2019, North America held the largest market share due to the presence of major market players, affordability for high-cost biologics and urate lowering agents, early introduction of drugs in the US, and presence of large patient base. Asia Pacific is expected to observe the fastest growth during the forecast period due to increasing investment of market players in the region, rising awareness and healthcare spending, and expected entry of drugs in the region.
Gout Therapeutics Market, By Geography
· North America (US & Canada) · Europe (UK, Germany, France, Italy, Spain, & Rest of Europe) · Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific) · LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Gout Therapeutics Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Gout Therapeutics are highlighted below.
· In January 2019, Horizon Pharma plc and HemoShear Therapeutics announced a collaboration to discover and develop novel therapeutics for gout.
Gout Therapeutics Market, Key Players
· AstraZeneca · Horizon Pharma Plc · Takeda Pharmaceutical Company Limited · GlaxoSmithKline plc · Novartis AG · Merck & Co. Inc. · Teijin Pharma Limited · Regeneron Pharmaceuticals, Inc. · Ironwood Pharmaceuticals, Inc. · JW Pharmaceutical · Selecta Biosciences, Inc.
Gout Therapeutics Market Study Global Market Analysis, Insights and Forecast, 2020-2027
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Industry SWOT Analysis
4.5. Porters Five Forces Analysis
5. Global Gout Therapeutics Market Analysis (USD Billion), Insights and Forecast, 2020-2027
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Drug Class