Global gout therapeutics market is estimated to reach around US $9,815.6 million by the year 2026, exhibiting a 15.2 percent CAGR, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2026
The worldwide market for gout therapeutics is gaining traction, with constant growth in the incidences of gout since the last few years. The disease is primarily caused by unrestrained metabolic disorder, coupled with high levels of uric acid present in the body. The disease is segmented into two significant types, which are acute gout and chronic gout. Different medications and therapies are recommended to the patients depending on the seriousness of the gout condition. A multitude of pharmaceutical companies are reported to have invested in research & development in an effort to enhance effectiveness of current medications. The global gout therapeutics market has been witnessing immense expansion over the past years and is anticipated to witness a consistent graph in the ensuing years. While both the segments have huge growth potential, the chronic gout segment is said to be holding a major market fragment at present.
The latest gout therapeutics market research report has illustrated the wide range of drug classes for treating the gout condition, segmented into urate-lowering agents, NSAIDs (Non-steroidal Anti-inflammatory Drugs), Colchicine, and Corticosteroids. Based on the recent finding of the report, corticosteroids and NSAIDs are two of the approved drugs to be used for the treatment of gout conditions and are readily available for purchase as over-the-counter drugs. As observed, these drugs are highly efficient in the treatment of mild gout conditions and are also expected to contribute significantly towards the expansion of the gout therapeutics market across the globe. Other vital factors propelling market growth include burgeoning preference for combination medications which help in speeding up recovery and mitigate side-effects.
The latest research report entails a thorough analysis of the worldwide gout therapeutics market in view of numerous market dynamics, drivers, and current & future market trends. The report further deals with multiple market restraints as well as opportunities that affect the scope of commercialization of this business sphere over the estimated period.
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On the basis of geographical segmentation, the global gout therapeutics market is bifurcated into five major regions North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is further fragmented into the Unites States and Canada. The European region comprises the United Kingdom, Italy, France, Germany, Belgium, and Spain. The Latin American market is broadly segmented into Brazil and Argentina, while the Asia Pacific region covers India, Japan, China, South Korea, and Australia. The Middle East & Africa regional market is sub-divided into Israel and South Africa.
The report claims that the US region has a huge prevalence of gout, given lifestyle linked issues such as obesity, smoking, high consumption of alcohol, etc. leading to the inflammatory disorder. North America market segment dominated the overall industry during the year 2018. The APAC regional market is projected to witness the highest rate of growth, owing to burgeoning healthcare spending in the developing economies, coupled with considerable investments in the region by key market players, cites the report.
The competitive gamut of the global market encompasses leading market players like Horizon Pharma Plc, GlaxoSmithKline Plc, Merck & Co. Inc., AstraZeneca, Takeda Pharmaceutical Company Limited, Teijin Pharma Limited, Novartis AG, Ironwood Pharmaceuticals, Inc., Selecta Biosciences Inc., Regeneron Pharmaceuticals Inc., Grunenthal Group and JW Pharmaceutical. These companies are currently targeting regenerative medicines, which is likely to boost the global market growth for gout therapeutics.