SAN FRANCISCO, July 20, 2023 /PRNewswire/ -- The global gout therapeutics market size is expected to reach USD 4.13 billion by 2030 and expand at a CAGR of 6.25% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of the market is attributed to the global rise in disease burden, initiatives undertaken by government and private organizations to spread awareness among people, and the recent development of novel therapies in the space. Furthermore, the growing number of clinical pipeline drugs offers lucrative market growth opportunities.
Key Industry Insights & Findings from the report:
- NSAIDs segment accounted for the largest share of the market in 2022 due to the high prescription rate, low cost, and strong presence in the market.
- Based on disease condition, the acute condition segment held 65.77% of the total market share in 2022, owing to a high patient pool compared to the chronic condition.
- In 2022, retail pharmacy held the highest segment share in the space. However, online pharmacy is expected to be the fastest-growing segment over the forecast period.
- North America dominated the global market in 2022 owing to factors such as increased gout cases, high awareness among individuals for disease treatment, and better healthcare access in the region.
- Some key players in the space include GlaxoSmithKline plc; Takeda Pharmaceutical Company Ltd.; Regeneron Pharmaceuticals Inc; Novartis AG; AstraZeneca plc; Merck & Co. Inc.; Teijin Ltd.; and Horizon Pharma plc; Zydus Group and others.
Read full market research report with ToC, "Gout Therapeutics Market Size, Share & Trends Analysis Report By Drug Class (NSAIDs, Corticosteroids, Colchicine), By Disease Condition (Acute, Chronic), By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Gout Therapeutics Market Growth & Trends
The world is witnessing an increasing prevalence of gout, which is the key factor driving market growth. For instance, according to an Elsevier article, in 2021, Australia reported prevalence rates between 1.5% to 2.9% for gout. Similarly, in 2021, Canada and UK reported approximately 4% and 2.33% rise in disease cases respectively. High prevalence is further supported by the high geriatric population, improper diets such as consumption of alcohol and fructose, increasing sedentary lifestyle, and comorbidities like renal impairment, cardiovascular diseases, and diabetes.
The robust clinical trial pipeline and the anticipated launch of new therapeutics are expected to boost market growth over the forecast period. Presently, drug candidates like Jiangsu HengRui Medicine Co., Ltd.'s SHR4640 are in phase 3 clinical investigation for the treatment of gout. Similarly, in March 2023, Selecta Biosciences, Inc announced positive results for the Phase 3 DISSOLVE I & II placebo-controlled randomized clinical trials of SEL-212. SEL-212 is indicated for chronic refractory gout.
Key players are undertaking strategic initiatives such as collaborations, mergers and acquisitions, agreements, and financial investments, driving market growth. For instance, in June 2021, Horizon Therapeutics plc collaborated with Arrowhead Pharmaceuticals to develop RNAi therapeutic, a potential treatment for uncontrolled gout. In July 2022, the company received expanded FDA approval for Krystexxa for patients with uncontrolled gout. It is used in combination with immunotherapy and chemotherapy drug, methotrexate.
Additionally, in March 2023, Horizon organized a campaign, "Weed it G'out" for National Kidney Month. The campaign uses flowers and weeds to depict the correlation to the effect of uric acid on kidneys. The campaign aims to create awareness and urge people to take gout seriously and consult a specialist.
Gout Therapeutics Market Report Scope
Report Attribute | Details |
Market size value in 2023 | USD 2.70 billion |
Revenue forecast in 2030 | USD 4.13 billion |
Growth rate | CAGR of 6.25% from 2023 to 2030 |
Base year for estimation | 2022 |
Historical data | 2018 - 2021 |
Report updated | June 2023 |
Gout Therapeutics Market Segmentation
Grand View Research has segmented the global gout therapeutics market based on drug class, disease condition, distribution channel, and region:
Gout Therapeutics Market - Drug Class Outlook (Revenue, USD Million, 2018 - 2030)
- NSAIDs
- Corticosteroids
- Colchicine
- Urate-Lowering Agents
- Others
Gout Therapeutics Market - Disease Condition Outlook (Revenue, USD Million, 2018 - 2030)
- Acute Gout
- Chronic Gout
Gout Therapeutics Market - Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Gout Therapeutics Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- The U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
List of Key Players in the Gout Therapeutics Market
- Takeda Pharmaceutical Company Ltd.
- Novartis AG
- Regeneron Pharmaceuticals Inc.
- AstraZeneca plc
- Horizon Therapeutics plc
- Merck & Co. Inc.
- Teijin Pharma Ltd.
- GlaxoSmithKline, Plc.
- Zydus Group
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Browse through Grand View Research's Pharmaceuticals Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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