Future Outlook of Colchicine Market Growth by Regions, Type, Application and Players Like- West Ward Pharmaceutical, Takeda Pharmaceuticals America, Inc., Cardinal Health, etc.

Colchicine Market Overview 2020 Forecast 2027

According to the current analysis of Reports and Data, The Global Colchicine Market was valued at USD 553.8 million in 2020 and is expected to reach USD 1.13 billion by the year 2027, at a CAGR of 9.3%. Colchicine is an alkaloid drug preferably used in the treatment of an attack of gout. Gout is usually characterized by joint pain and inflammation and is caused when an excess of uric acid gets accumulated in joints in the form of needle-like crystals in a joint. Gout is nothing but a critical case of inflammatory arthritis. Increasing incidences of arthritis across the globe and the rising global burden of gout are the major driving factors enhancing the market growth.

Colchicine Market Size – USD 553.8 Million in 2020, Market Growth - CAGR of 9.3%, Market Trends – Wider application range of the drug

Arthritis is the primary cause of disability, pain, and ultimately loss of work potential irrespective of age group. In 2017 approximately 54.4 million (25% of the population) American adults diagnosed with arthritis prominently osteoarthritis, rheumatoid arthritis, gout, lupus, and fibromyalgia were constantly growing, and is expected to reach 78 million (26% of the population) the U.S. adults. The rising pace of aging across the globe is rising joint-related disorders such as joint pain, and gouty arthritis is estimated to enhance the growth of colchicine.

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Key companies profiled in the report: Abbott Laboratories, Hikma Pharmaceuticals, Cipla Limited, West Ward Pharmaceutical, Takeda Pharmaceuticals America, Inc., Cardinal Health, Major Pharmaceuticals, Excellium Pharmaceutical, Mylan Pharmaceuticals Inc., Odan Laboratories

Various field players are engaged in developing new application range of the colchicine. For instance, Pharmascience Inc. introduced colchicine application in the prevention of myocardial infarction (MI). Various market players are engaged in modifying the colchicine structure by combining with carriers such as borneol-chemically-modified colchicine ethosome that showed better transdermal activity over the traditional drug formulation in the treatment of inflammation. Growing usage of colchicine in various industries such as veterinary and agriculture is expected to increase the market growth. For example, colchicine is expected to enhance quality traits in ornamental plants. It acts as a mitotic inhibitor for the induction of polyploidy in plants leading to quality trait of flower. However, allergic reactions caused due to colchicine may hinder market growth.

For the purpose of this report, Reports and Data has segmented the colchicine market on the basis of dosage formulation, application, end use and region:

Dosage Formulation Outlook (Revenue, USD Million; 2020-2027)
Tablet
Capsule
Solution
Cream
Injection
Others

Application Outlook (Revenue, USD Million; 2020-2027)
Acute Gout
Chronic Gout
Familial Mediterranean Fever
Gout Prophylaxis
Actinic Keratosis
Amyloidosis
Behcet's Disease
Pericarditis
Pseudogout
Dermatitis Herpetiformis
Paget's Disease
Biliary and Hepatic Cirrhosis
Others

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End Use Outlook (Revenue, USD Million; 2020-2027)
Pediatric
Adult
Geriatric

Regional Outlook (Revenue in USD Million; 2016–2026)
North America
Europe
Asia Pacific
Middle East & Africa
Latin America

Further key findings from the report suggest:
Various government organization are engaged in developing the application of colchicine in variety of diseased conditions. For instance, National Institute of Child Health and Human Development in collaboration with National Institute of Diabetes and Digestive and Kidney Diseases and National Heart, Lung, and Blood Institute is developing application of the drug in Non-Diabetic Adults with Metabolic Syndrome

Favorable funding scenario in the respective industry is expected to be one of the major factor propelling market. For instance, ZonMw (The Netherlands Organisation for Health Research and Development), the Netherlands Heart Foundation, the Australian National Health and Medical Research Council and generic pharma were engaged in developing the colchicine use in medical conditions such as coronary artery disease and other cardiovascular conditions

Various industry players are focusing on expanding the client reach through various marketing strategies. For instance, Par Pharmaceutical, Inc. (Par) one of the operating company of Endo International plc has started distributing generic version of Takeda Pharmaceutical's Colcrys (colchicine, USP) 0.6 mg tablets in the U.S. market

During 2019-2026, colchicine market is expected to register a CAGR of 9.9% in Asia Pacific; followed by North America and Europe, with 9.7% and 9.2% CAGR, respectively. High prevalence of gout and related diseases across the globe is the major factor driving the market during the forecast period across all regions.

The tablet form of colchicine segment dominates the field with highest market share in the year 2018. It is estimated to grow at a CAGR of 9.3% during the forecast period to reach USD 358.07 million by 2026

Based on application segment, acute gout is expected to account for the CAGR 9.7% of the global colchicine market, as increased demand of masking the odor and taste of the molecule used and to provide sustained release effect

Asia Pacific is expected to account for the CAGR 9.9% of the global colchicine market. Developing nations such China, and India are likely to witness high growth due to high prevalence of diseases, increased healthcare expenditure and growing R&D investment

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Based on end use adults dominate the total market share of colchicine, as the adults are high prevalent to gout and arthritis followed by geriatric population worldwide

Allergic reaction encountered due to colchicine use, and availability of alternative treatment options are among the key factors likely to hamper growth of the colchicine market

Market Overview: The report gives a thorough investigation of essential factors affecting the progress of the market in the coming years, such as a competitive overview, growth analysis, market segmentation, and regulatory policies governing the industry, among others.

Competitive landscape: The report offers a comprehensive competitive landscape by carrying out a detailed investigation of the production base, capacity, feedstock sources, technological advancements, value chain assessment, rate of concentration, collaborations, mergers and acquisitions, distribution network, cost analysis, pricing structure, major manufacturers, distributors, vendors, and product specifications.

Company Profiles: This section draws focus to the leading companies that control a significant portion of the global market. The report gives an extensive analysis of the leading players that contribute to the overall growth of the industry. It analyzes the leading competitors, prevalent business models, profit-generating tactics, lucrative manufacturing strategies, and gross revenue, among other factors.

Regional Outlook: The analysis also offers insights into the regional markets in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, by studying the leading countries in these regions.

Application or End User: This section of the research study shows how different end-user/application segments contribute to the global Colchicine Market.

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Market Forecast: The report offers accurate estimations for different aspects of the global Colchicine Market by product, application, and region for the forecast period. It also analyzes global sales and revenue for the coming years.

Research Findings and Conclusion: The last section of the report gives the analysts’ findings and conclusion based on the research study.

Report Customization:
The report can be customized according to client requirements to include particular segments or regions. The Colchicine Market report delivers the latest economic scenario with the drivers, restraints, production capacity, demand and supply, market growth rate, and others. Additionally, the report also undertakes SWOT examination, speculation attainability investigation, and venture return investigation.

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