Hyperuricemia Drugs Market By Type, Diseases, Drug, Application, Industry Trends and Forecast to 2029

The global hyperuricemia drugs market is expected to witness significant growth during the forecast period. As per the data published in National Institute on Alcohol Abuse and Alcoholism, U.S. an average of 17 million U.S. citizens suffered from alcohol use disorder in 2011. The life expectancy of people is increasing worldwide, that has led to a rise in the elderly population. This trend has led to a higher occurrence of this condition and per capita demand for its therapeutics, thus positively affecting their industry.

Data Bridge Market Research analyses a growth rate in the global hyperuricemia drugs market in the forecast period 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Access Full report: https://www.databridgemarketresearch.com/reports/global-hyperuricemia-drugs-market

Drivers

Availability of Advanced Treatment Procedures
With each decade, varied treatment methods are available to help the patients' faster recovery. Treatment advancements in terms of hearing aids, corrective lenses are on the rise. Thus, it acts as a major driver in the market growth.

Increasing Incidence in Elderly Population
Myelofibrosis cases are mostly witnessed in the age group ≤ 40 years, 41-60 years, and > 60 years. The >60 years group saw highest number of patients mostly around 10,275 in 2021 in the U.S. In 2021, eligible treatment population of myelofibrosis accounted for 9,511 cases in the U.S. Thus, this elderly population with higher chances of getting this disease boosts the market growth.

Opportunities

Rising R&D and New Drug Approvals
Numerous clinical trials are carried out by several research institutes and companies in order to discover most efficient drug for rearming the disorder. For instance, Ardea Biosciences, Inc. is conducting phase 2 clinical trials for testing the efficiency of RDEA806 for treatment of hyperuricemia. Hebei Medical University is conducting phase 3 trials to test the hypothesis that prednisone is superior over allopurinol in renal function improvement in heart failure patients with hyperuricemia. TWi Biotechnology, Inc. was awarded with U.S. patent in 2014 for AC - 201 which is effective in treating hyperuricemia.

Increasing Collaborations and Market Expansion
Some of the bulging companies operating in the market insist on collaborations for development, broader product portfolios, and regional expansion in developing markets. These market players' major strategic undertakings to increase their market share. Thus, these factors are growing the market.

Restraints/Challenges

Lack of Awareness
The lack of awareness about these disorders and the unavailability of numerous awareness programs hamper the market growth. The available drugs have not shown disease-modifying activity and are still mostly inadequate for managing major unmet needs.

Competitive Landscape and Global Hyperuricemia Drugs Market Share Analysis
The global hyperuricemia drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global hyperuricemia drugs market.

Key players operating in the global hyperuricemia drugs market include:

Pfizer Inc (U.S.)
F. Hoffmann-La Roche Ltd (Switzerland)
Mylan N.V. (U.S.)
Fresenius Kabi AG (Germany)
Hikma Pharmaceuticals PLC (U.K.)
Novartis AG (Switzerland)
Teva Pharmaceutical Industries Ltd. (Israel)
Bristol Myers Squibb Company (U.S.)
GSK Plc. (U.K.)
Bayer AG (Germany)
Sun Pharmaceutical Industries Ltd (India)
Dr. Reddy's Laboratories Ltd (India)
Endo International plc (Ireland)

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