What’s the Market Size Analysis for Gout Therapeutics Highlighting The Historic And Forecast Growth?
The gout therapeutics market size has displayed robust growth in recent years. The market is projected to grow from $2.88 billion in 2024 to $3.23 billion in 2025 at a compound annual growth rate (CAGR) of 12.2%. Increased prevalence of gout, lifestyle changes, and high blood pressure and diabetes prevalence are contributing to significant growth in the historic period. Furthermore, the development of xanthine oxidase inhibitors and patient education initiatives are propelling the market forward.
Anticipation for rapid growth is on the horizon for the gout therapeutics market. The market is expected to reach $5.03 billion in 2029, growing at a CAGR of 11.7%. This forecast growth can be attributed to rising healthcare expenditure, advancements in drug delivery systems, emergence of novel therapies, and government initiatives for chronic disease management.
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What Are the Key Growth Drivers Behind the Gout Therapeutics Market?
The exponential rise in gout occurrences is a significant driver for market growth. Gout is an inflammatory arthritis condition resulting in pain and swelling of joints. Gout therapeutics is engineered to treat and relieve these symptoms, driving market sales. For example, the Australian Institute of Health and Welfare reported 573 deaths related to gout in 2022, equating to 2.2 deaths per 100,000 people. These rising incidences of gout are propelling the gout therapeutics market forward.
What Are the Major Segments in the Gout Therapeutics Market?
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
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Who Are The Key Players Operating In the Gout Therapeutics Market?
Outstanding players actively operating in the gout therapeutics market include Sanofi-Aventis, AstraZeneca plc, LG Chem Ltd., GlaxoSmithKline Plc, Takeda Pharmaceuticals Co. Ltd., Boehringer Ingelheim International GmbH, Regeneron Pharmaceuticals Inc., Astellas Pharma Inc., Sandoz, Eisai Co. Ltd., Horizon Pharma Plc, Jiangsu HengRui Medicine Co. Ltd., Hikma Pharmaceuticals plc, Swedish Orphan Biovitrum AB, JW Pharmaceutical Corp, Lannett Company Inc, BioCryst Pharmaceuticals Inc., Selecta Biosciences Inc., Rigel Pharmaceuticals Inc., CymaBay Therapeutics Inc., GeneScience Pharmaceuticals Co. Ltd., Shanton Pharma.
What Are the Emerging Trends in The Gout Therapeutics Market?
Product innovation emerges as a key trend in the gout therapeutics market. In this regard, Synlogic Inc., launched SYNB2081 in August 2022, a novel drug candidate for treating gout. Companies are continually developing innovative treatments to maintain their market positions.
In What Region Is the Gout Therapeutics Market Growing Rapidly?
With North America leading the gout therapeutics market in 2024, Asia-Pacific is expected to be the fastest-growing region in the forecast period.
What Does The Gout Therapeutics Global Market Report 2024-2025 Offer?
The Gout Therapeutics Global Market Report 2024 offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Gout therapeutics refers to medication treating the disease known as gout or inflammatory arthritis, causing pain and swelling in joints.
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