Gout Therapeutic Market is Projected to Reach US$ 3820 Mn by 2027

The global gout therapeutic market was initially valued at US$1874 mn in 2018, as per the new research report published by Transparency Market Research. The research report further expects the market to develop at a CAGR of around 8.3% for the given projection period of 2019 to 2027. With this rate of growth, the market is then estimated to reach a valuation worth US$3820 mn by the fall of 2027.

As per a recent research report published by National Health and Nutrition Examination Survey (NHANES), the prevalence of gout among adults in the US is around 3.9% and this has affected nearly 8.3 million people across the nation. Such a high number patients is thus the chief driving factor for the development of the global gout therapeutic market. This is a clear indicator that the regional segment of North America will dominate the global market in the coming years of the forecast period. In addition to this, there are several other important factors that are also helping to push the growth of the North America gout therapeutic market to a next level. Increasing demand for biologics for treating gout, rapid growth in the geriatric population in the region, and favorable policies for medical reimbursement are some of the important factors that are helping the growth of the regional market.

Report Overview @

https://www.transparencymarketresearch.com/gout-therapeutic-market.html

Rise in prevalence of gout arthritis across the globe is anticipated to boost the global gout therapeutics market during the forecast period.

According to National Health and Nutrition Examination Survey (NHANES), prevalence among adults is estimated to be 3.9%, while 8.3 million people in the U.S. are affected by gout. North America and Europe are expected to dominate the global gout therapeutics market from 2019 to 2027. This is attributed because of following factors

Rise in the demand for biologics for gout treatments,
Favorable medical reimbursement policies
Rapid increase in the geriatric population.
Asia Pacific is likely to account for a significant share of the global gout therapeutics market by 2027. This is due to a surge in the number of gout cases in highly populated countries such as India and China, large geriatric population in Japan, and rise in adoption of biologics therapeutics in Japan, Australia, New Zealand, and South Korea. The gout therapeutics market in Asia Pacific is expected to expand at a high CAGR from 2018 to 2026.

Planning To Lay Down Future Strategy? Request Brochure Of Gout Therapeutic Market

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=66875

Innovation in research & development leading to several new drug approvals for gout is likely to propel the global gout therapeutics market.

Promising drug pipeline and approvals to propel gout therapeutics market

Demand for effective therapeutics for gout treatment is increasing. Numerous pipeline products and recent approvals of drugs to treat gout arthritis are expected to drive the gout therapeutics market during the forecast period. New medication are being developed, such as arhalofenate, which is estimated to target renal transporters of uric acid, primarily URAT1 and OAT4, acting as uricosuric agents. Furthermore, new xanthine oxidase inhibitors, Topiloric and Uriadec, have been developed and labelled in Japan by Fujiyakuhin Co., Ltd. Japan and Sanwa Kagaku Kenkyusho Co., Ltd. Japan, respectively.

Increase in patient preference for biologics drives the demand for gout therapeutics

Physicians have rapidly prescribed urate lowering drugs to control uric acid levels in patients suffering from gout. Hence, a rise in the number of promising drug pipeline and rapid acceptance of new drugs are expected to propel the global gout therapeutics market during the forecast period.

To Obtain All-Inclusive Information On Forecast Analysis Of Gout Therapeutic Market , Request A Discount

https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=66875

Antihyperuricemic agents (urate-lowering drugs) to be highly attractive segment

The report offers detailed segmentation of the global gout therapeutics market based on drug type and distribution channel. In terms of drug type, the antihyperuricemic agents (urate-lowering drugs) segment is projected to account for leading share of the global gout therapeutics market during the forecast period.

Factors attributed to the higher share held by the antihyperuricemic agents (urate-lowering drugs) segment include availability of antihyperuricemic agents and increase in prescription rate, as urate-lowering drugs are less expensive than biologics.

Moreover, urate lowering drugs are utilized for the symptomatic treatment of gout arthritis, as a first line of therapy or in combination therapy. According to estimates more than 2 million people in the U.S. take medication to decrease serum uric acid levels. Moreover, higher penetration of urate lowering drugs, as compared to biologics, into the gout therapeutics market for the treatment of people suffering from chronic or acute gout diseases propel the antihyperuricemic agents (urate-lowering drugs) segment.

According to study by NHS in 2014, out of the newly diagnosed gout patients, 18.6% patients received urate lowering therapy (ULT) within six months, and 27.3% within 12 months of diagnosis

Favorable reimbursement policies in developed countries for biologics propel the biologics segment. Furthermore, development and launch of new gout drugs required to treat people suffering from gout diseases are expected to drive the gout therapeutics market during the forecast period.

Hospitals segment to dominate market

Based on distribution channel, the retail pharmacy segment is projected to account for a dominant share of the global gout therapeutics market from 2019 to 2027. The segment is anticipated to expand at a high CAGR from 2019 to 2027. Hospital pharmacy is expected to be the second leading segment, in terms of market share, during the forecast period. High share held by the hospitals pharmacy segment is attributed to the increase in geriatric population with moderate to severe gout arthritis requiring hospital pharmacy to purchase drugs.

The online pharmacy segment is likely to expand at a rapid pace during the forecast period. Increase in the number of players in the online pharmacy segment and acceptance of several gout therapeutics as over-the-counter drugs in the medical therapy to penetrate the pharmaceutical and the health care market are projected to boost the online pharmacy segment.

Asia Pacific to offer high incremental opportunity

In terms of revenue, North America is projected to dominate the global gout therapeutics market from 2019 to 2027. This is attributed to the early adoption of approved drugs, large patient pool, and easy availability & lucrative medical reimbursement policies in the U.S. and Canada.

According to The Cleveland Clinic Foundation, estimated prevalence of gout is more than 2%. It is a highly common inflammatory arthritis affecting males older than 75 years in the U.S.

Europe is anticipated to be the second-largest and highly attractive market for gout therapeutics. The gout therapeutics market in the region is expected to expand at a high CAGR during the forecast period, due to high prevalence and increase in incidence of gout, surge in adoption of biosimilar products, and large base of pharmaceutical companies.

The gout therapeutics market in the U.K. is likely to expand at a rapid pace during the forecast period. The country is projected to retain its share of the gout therapeutics market from 2019 to 2027. Moreover, high incidence of gout arthritis is anticipated to propel the market in the U.K. during the forecast period.

The gout therapeutics market in Asia Pacific is anticipated to expand at a high CAGR, owing to the large population in countries such as India and China, large geriatric population in Japan, and improving health care facilities.

New product development and strategic alliances in international market: Key trend among leading players

The report also provides profiles of leading players operating in the global market. Takeda Pharmaceutical Company Limited, Teijin Pharma Limited., Novartis AG, Mylan N.V., and Horizon Pharma plc. are major players operating in the market. Other prominent players in the global gout therapeutics market include Teva Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC, Iroko Pharmaceuticals, LLC, and MERCK & CO., Inc.

Contact Us

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR's syndicated reports strive to provide clients to serve their overall research requirement.

This release was published on openPR.