New York, NY 3 Oct 2019:The global gout therapeutics market is predicted to grow at a CAGR of 15.2% from 2019 to 2026 to reach USD 9,815.6 million by 2026, according to a new market report published by Polaris Market Research. The report Gout Therapeutics Market Size, Share, Trends & Analysis Report, By Drug Class (Urate-Lowering Agents, Corticosteroids, Nonsteroidal Anti-inflammatory Drugs [NSAIDs], Colchicine); By Disease Condition (Chronic Gout, Acute Gout); By Region, Segment Forecast, 2019 – 2026 provides in depth analysis of the current and future market trends.
The incidence of gout has witnessed continual growth over the past years. It is majorly caused by uncontrolled metabolic disorder and high level of uric acid in the body. U.S. region is observed to have a high prevalence of gout owing to lifestyle issues such as high alcohol intake, obesity, and smoking resulting in the inflammatory disorder. Attributed to these factors along with the adoption of innovative treatments and increased understanding about arthritic conditions, the market in North America region is observed to be the dominant market across all regions during 2018. While, the Asia Pacific regional market is expected to witness highest growth rate owing to rising healthcare expenditure among the developing economies and significant investments by key players in this region.
As per the severity of gout condition recommendations of medications and therapies are made to the respective patients. Multiple pharmaceutical companies have consistently increased the R&D investments to come up with further effective medications. The market for therapeutics of acute and chronic gout has witnessed significant growth over the past years and is expected to continue its growth trend. Although both segments are anticipated to grow, chronic gout segment presently holds major market share.
NSAIDs, corticosteroids are among the approved drugs for treating gout condition and are available for purchase over the counter. These drugs are observed to be greatly effective in treating mild gout conditions and are expected to have significant impact on driving the growth in global gout therapeutics market. Moreover, rising preference for combination therapies due to benefits such as speeding up the treatment process, reduction in side effects is also another factor enhancing the market growth.
Some of the key players in this market are 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., and Grunenthal Group. Companies are also increasingly having their focus on regenerative medicines which is further expected to contribute in the growth of gout therapeutics market.
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