The Gout Therapeutics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Gout Therapeutics Global Market Report 2024, The gout therapeutics market size has grown rapidly in recent years. It will grow from $2.54 billion in 2023 to $2.86 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to increased prevalence of gout, changed lifestyle and dietary patterns, high blood pressure and diabetes prevalence, development of xanthine oxidase inhibitors, patient education initiatives.
The gout therapeutics market size is expected to see rapid growth in the next few years. It will grow to $4.41 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to rising healthcare expenditure, advancements in drug delivery systems, emerging novel therapies, government initiatives for chronic disease management, patient advocacy and support groups. Major trends in the forecast period include innovative drug development, novel drug approvals, personalized medicine approaches, telehealth services for gout management, research in urate-lowering therapies.
The rising occurrence of gout is expected to propel the growth of the gout therapeutics market going forward. Gout refers to an inflammatory arthritis condition that causes pain and swelling in joints. Gout therapeutics treat and relieve pain, swelling, and tenderness in joints. As a result, the rising occurrence of gout is expected to boost sales in the gout therapeutics market. For instance, in September 2022, according to reports from the National Health Service, a UK-based publicly funded healthcare system, 250,000 new cases of gout were recorded between 2021 and 2022 in British hospitals, a 20% rise from the previous three years. Therefore, the rising incidence of gout is driving the growth of the gout therapeutics market.
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The gout therapeutics market covered in this report is segmented –
1) By Type: Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), Corticosteroid, Diuretics
2) By Treatment: Xanthine Oxidase Inhibitor, Uricosuria Medication
3) By Disease Condition: Acute, Chronic
4) By End-Users: Hospitals, Specialty Clinics, Other End Users
Product innovation is the key trend gaining popularity in the gout therapeutics market. Major companies operating in the gout therapeutics market are developing innovative treatments to sustain their position in the market. For instance, in August 2022, Synlogic Inc., a US-based pharmaceutical company, launched SYNB2081, a new drug candidate for gout treatment. The SYNB2081 is a synthetic biotic designed to lower uric acid. It is the second clinical drug candidate developed through a research collaboration between Synlogic and Ginkgo, a US-based biotech company.
The gout therapeutics market report table of contents includes:
1. Executive Summary
2. Gout Therapeutics Market Characteristics
3. Gout Therapeutics Market Trends And Strategies
4. Gout Therapeutics Market – Macro Economic Scenario
5. Global Gout Therapeutics Market Size and Growth
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31. Gout Therapeutics Market Other Major And Innovative Companies
32. Global Gout Therapeutics Market Competitive Benchmarking
33. Global Gout Therapeutics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Gout Therapeutics Market
35. Gout Therapeutics Market Future Outlook and Potential Analysis
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