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Insights into Gout Therapeutics Market: Demand and Forecast to 2033
Gout Therapeutics Market
The Business Research Company presents an extensive market research report on the Gout Therapeutics Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The gout therapeutics market size has grown rapidly in recent years. It will grow from $2.54 billion in 2023 to $2.86 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to increased prevalence of gout, changed lifestyle and dietary patterns, high blood pressure and diabetes prevalence, development of xanthine oxidase inhibitors, patient education initiatives.
The gout therapeutics market size is expected to see rapid growth in the next few years. It will grow to $4.41 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to rising healthcare expenditure, advancements in drug delivery systems, emerging novel therapies, government initiatives for chronic disease management, patient advocacy and support groups. Major trends in the forecast period include innovative drug development, novel drug approvals, personalized medicine approaches, telehealth services for gout management, research in urate-lowering therapies.
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Key Market Players:
Major companies operating in the gout therapeutics market report are AbbVie Inc., 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., Avion Pharmaceuticals LLC, Protalix BioTherapeutics Inc., Teijin Pharma Limited, Romeg Therapeutics LLC., CymaBay Therapeutics Inc., GeneScience Pharmaceuticals Co. Ltd., Shanton Pharma
Market Drivers:
The rising occurrence of gout is expected to propel the growth of the gout therapeutics market going forward. Gout refers to an inflammatory arthritis condition that causes pain and swelling in joints. Gout therapeutics treat and relieve pain, swelling, and tenderness in joints. As a result, the rising occurrence of gout is expected to boost sales in the gout therapeutics market. For instance, in September 2022, according to reports from the National Health Service, a UK-based publicly funded healthcare system, 250,000 new cases of gout were recorded between 2021 and 2022 in British hospitals, a 20% rise from the previous three years. Therefore, the rising incidence of gout is driving the growth of the gout therapeutics market.
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https://www.thebusinessresearchcompany.com/report/gout-therapeutics-global-market-report
The gout therapeutics market covered in this report is segmented -
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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