The global gout therapeutic market is driven by high prevalence and rapid increase in incidence of gout arthritis across the globe. The global gout therapeutics market was valued at US$ 1874 Mn in 2018 and is projected to reach US$ 3820 Mn by 2027, expanding at a CAGR of 8.3% from 2019 to 2027.
High growth rate of the gout therapeutics market is attributed because of following factors
- Increase in drug pipeline
- Easy availability,
- Rise in the demand for biologics for treatment of gout across the globe.
Gout is a type of inflammatory arthritis caused by small crystals of a chemical called uric acid that form in the joints. If uric acid levels in the blood remain elevated, thin rod-like crystals can form and deposit in the joints, which can lead to severe pain, tenderness, stiffness, swelling, and joint damage.
Gout has both active and inactive periods. Active periods of gout are known as ‘attacks’ and can vary in severity and length. Diagnosis of gout is confirmed by synovial fluid analysis. Incidence of gout has been rising consistently over the last few years.
- According to Nationwide Emergency Department Sample (NEDS), total number of ED visits per year among patients with a primary diagnosis of acute gout increased 26.8% between 2006 and 2014; from 168,580 to 213,780.
Traditional therapies are witnessing a shift toward biologics. Rise in demand for effective treatment and new therapeutics launches are projected to propel the global gout therapeutics market during the forecast period. Efforts are being taken in various countries to spread awareness about chronic diseases and role of biologics in treating gout among the general population.
The global gout therapeutic market has been segmented based on drug type, distribution channel, and region. In terms of drug type, the gout therapeutics market has been classified into NSAIDS, colchicine, corticosteroids, antihyperuricemic agents (urate-lowering drugs), and biologics. The antihyperuricemic agents (urate-lowering drugs) segment dominated the gout therapeutics market in 2018.
The segment is projected to expand at a high CAGR from 2019 to 2027. Biologics have witnessed rapid adoption and are replacing NSAIDS and corticosteroids owing to better results. Hence, the biologics segment is anticipated to expand at a rapid pace and is likely to gain gout therapeutics market share during the forecast period.
Antihyperuricemic agents (urate-lowering drugs) are usually prescribed as the first line of treatment. Moreover, adoption and success of Target-2-Treat (T2T) strategy using a combination of biologic and conventional synthetic urate-lowering drugs for the treatment of severe gout disease are key factors fueling biologic and antihyperuricemic agents segments.
Increase in the number of multinational hospitals and preference to take injectable biologic drug products at hospitals is estimated to drive the hospital pharmacy segment.
- Increasing number of hospitals in developing countries, such as India China, Singapore, and Malaysia is further fueling the segment.
In terms of region, the global gout therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for significant share of the global market in 2018, followed by Europe.
Well-established health care facilities, favorable reimbursement policies, and early adoption of therapeutics for the treatment of gout contributed to the high gout therapeutics market share held by North America. Europe is projected to be the second-most attractive market for gout therapeutics from 2019 to 2027.
The gout therapeutics market in the Europe is anticipated to expand at a high CAGR during the forecast period, due to high prevalence and increase in incidence of gout and high per capita health care expenditure in the region.
The global gout therapeutics market is consolidated, with several companies accounting for majority market share. Key players operating in the global market include Takeda Pharmaceutical Company Limited, Teijin Pharma Limited., Novartis AG, Mylan N.V., and Horizon Pharma plc. These players exhibit significant geographic outreach, with presence in multiple gout therapeutics segments.
Manufacturers are adopting acquisition & collaboration and new product development strategies to tap the unmet needs of a large proportion of patient pool. Other prominent players in the global gout therapeutics market include Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC, Iroko Pharmaceuticals, LLC, and MERCK & CO., Inc.
Global Gout Therapeutics Market: Overview
This report studies the current as well as future prospects of the global gout therapeutics market. Stakeholders of this report include companies and intermediaries engaged in the manufacture, commercialization, and provision of gout therapeutics and new players planning to enter the market.
The report comprises an elaborate executive summary, along with a market snapshot, providing overall information on various segments considered in the scope of the study. The section also provides information and data analysis of the global gout therapeutics market in terms of drug type, distribution channel, and region.
Global Gout Therapeutics Market: Key Segments
The global gout therapeutics market has been segmented based on drug type, distribution channel, and region. In terms of drug type, the global market has been classified into colchicine, antihyperuricemic agents (urate-lowering drugs), non-steroidal anti-inflammatory drugs (NSAIDs), corticosteroids, and biologic response modifiers (Biologics).
Based on distribution channel, the global gout therapeutics market has been divided into hospital pharmacy, retail pharmacy, and online pharmacy. The retail pharmacy segment is expected to dominate the global gout therapeutics market during the forecast period.
The bottom-up approach has been employed to determine the size of the global gout therapeutics market, using various market indicators obtained from secondary sources, which included analysis of launched products and mapping of demand for gout therapeutics of top market players in specific regions.
The top-down approach has been used to derive the market size of different product segments, wherein market size of parent market was obtained through secondary sources and analyzed for sales by narrowing down to revenue percentage for product segment through extensive analysis of investor presentations, press releases, primary interviews, and others.
Data triangulation is based on both secondary research (top-down and bottom-up approaches) and primary research. Moreover, historical year-on-year growth has been taken into consideration while estimating the market size. Market value and forecast, in terms of US$ Mn, for each segment has been provided for the period from 2017 to 2027.
The report also provides compound annual growth rate (CAGR %) for each segment for the forecast period from 2019 to 2027, considering 2018 as the base year.
The overview section of the report explores market dynamics such as drivers, restraints, opportunities, and key trends that have significant impact on the global gout therapeutics market and could influence it in the near future.
Market attractiveness analysis has been provided to explain the intensity of competition in the market across regions. These analyses are likely to help market players take strategic decisions to strengthen their positions and grow their share in the global gout therapeutics market. The report also comprises pipeline analysis and epidemiological overview of gout.
Global Gout Therapeutics Market: Regional Outlook
In terms of region, the global gout therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Market size and forecast for each of these regions have been provided for the period from 2017 to 2027, along with their respective CAGRs for the forecast period from 2019 to 2027, considering 2018 as the base year.
The report also provides market size and forecast for major countries in the above mentioned regions. A detailed qualitative analysis of factors responsible for driving and restraining the market and growth opportunities has been provided in the overview section.
Companies Mentioned in the Report
Some of the major players operating in the global gout therapeutics market are
- Takeda Pharmaceutical Company Limited
- Teijin Pharma Limited.
Novartis AG, Mylan N.V.
- Horizon Pharma plc
- Teva Pharmaceutical Industries Ltd.
- Hikma Pharmaceuticals PLC
- Iroko Pharmaceuticals, LLC
- MERCK & CO., Inc.
The global gout therapeutics market has been segmented as follows: