Gout Therapeutics Market [2028]: Size, Share - Competitive Intelligence Report - TechSci Research

According to TechSci Research report, "Gout Therapeutics Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028", the Global Gout Therapeutics Market stood at USD 1.98 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 8.74% through 2028. The factors attributed to the growth of the market are the growing adoption of biologics and rising research and development activities on regenerative medicines, the rising prevalence of gout with increasing alcohol consumption, and technological advancements in imaging modalities that improved the understanding of gout. In addition, the factors that increase the risk of developing gout are obesity, dietary factors, comorbid conditions, and novel associations of gout with other comorbidities, such as erectile dysfunction, atrial fibrillation, obstructive sleep apnea, osteoporosis, and venous thromboembolism have been reported.

According to 2022 statistics published by World Obesity Federation, it has been observed that 31.5% of men and 40.2% of women are living with obesity in Mexico in 2020. Also, according to the Eurostat report in July 2021, more than half (53%) were overweight (36% pre-obese and 17% obese) in Europe in 2020. As per the same source, the highest share of the obese population was found in the people aged 65 to 74 (66%) and the lowest among those aged 18 to 24 (25%). Thus, a high body mass index increases the risk of developing gout by increasing the serum uric acid level in the body and leads to hyperuricemia which decreased the renal secretion of urate. This is expected to increase the demand for effective treatment and therapeutics which is in turn anticipated to propel the market growth.

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The Global Gout Therapeutics Market is segmented into drug types, distribution channel and company.

Based on the Drug Type, the Urate-lowering Drugs segment is anticipated to witness substantial market growth throughout the forecast period. The Global Gout Therapeutics Market is set for substantial growth, driven by the increasing prominence of Urate-lowering Drugs (ULDs). ULDs, designed to lower uric acid levels in the blood, represent a cornerstone in the management of gout. The expanding prevalence of gout, coupled with the recognition of the crucial role of urate reduction in preventing gout attacks, is propelling the demand for these drugs. As healthcare providers emphasize the importance of sustained uric acid control to manage gout effectively, the market for Urate-lowering Drugs is poised for expansion. The continual advancements in drug development, including more potent and well-tolerated ULD formulations, contribute to the growing acceptance and adoption of these therapeutics.

Based on the Distribution Channel segment, the Cardiovascular segment has been the dominant force in the market. The Global Gout Therapeutics Market is poised for significant growth, propelled by the pivotal role of retail pharmacies. As key distribution channels for pharmaceutical products, retail pharmacies play a crucial part in expanding the accessibility of gout therapeutics to a broader patient base. The convenience of obtaining prescription medications directly from local retail outlets fosters patient adherence and ensures timely access to essential treatments. Moreover, the rising prevalence of gout underscores the importance of a well-established and widespread retail pharmacy network. The ease of access to these medications through retail channels encourages patients to seek and continue treatment, thereby contributing to the overall market growth. Retail pharmacies also serve as points of patient education, facilitating discussions between pharmacists and individuals affected by gout. This interaction not only enhances patient awareness but also promotes the importance of adherence to prescribed regimens, further driving market expansion.

Major companies operating in Global Gout Therapeutics Market are:

• Abbott Laboratories

• Medtronic Plc

• Boston Scientific Corp

• Becton, Dickinson and Company

• Novartis AG

• GlaxoSmithKline plc

• Allergen, Inc.

• W. L. Gore & Associates, Inc.

• Stryker Corporation

• Terumo Corporation.

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"This growth is primarily attributed to the increasing prevalence of gout and rising awareness among people about the disease treatment. Furthermore, the space has advanced and new therapeutic options with a robust drug pipeline are further accelerating the space growth. The strong research and development in the space have led to a robust product pipeline. Government agencies and private organizations strive to raise awareness through various awareness campaigns, further driving space growth. Furthermore, novel drugs in the space further boost the market growth. Moreover, the availability of investment in automating retail pharmacies to process pharmacy insurance information has contributed to the development of the retail supply chain. The technicians use medical billing and coding to modify medical information into billable codes leading to sustainable systems and driving segment growth." said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

"Gout Therapeutics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Drug Type (NSAIDs, Colchicine, Urate-lowering Drugs, Biologics), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Region, By Competition", has evaluated the future growth potential of Global Gout Therapeutics Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Gout Therapeutics Market.

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Table of Content:

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Gout Therapeutics Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Drug Type (NSAIDs, Colchicine, Urate-lowering Drugs, Biologics)

5.2.2. By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)

5.2.3. By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)

5.2.4. By Company (2022)

5.3. Market Map

5.3.1 By Drug Type

5.3.2 By Distribution Channel

5.3.3 By Region

6. North America Gout Therapeutics Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

Colchicine, Urate-lowering Drugs, Biologics)

6.2.2. By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)

6.2.3. By Country

6.3. North America: Country Analysis

6.3.1. United States Gout Therapeutics Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Drug Type

6.3.1.2.2. By Distribution Channel

6.3.2. Canada Gout Therapeutics Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Drug Type

6.3.2.2.2. By Distribution Channel

6.3.3. Mexico Gout Therapeutics Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Drug Type

6.3.3.2.2. By Distribution Channel

7. Europe Gout Therapeutics Market Outlook

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