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Gout Therapeutics Market on Track for Strong Growth, Estimated to Grow at 11.7% CAGR Through 2029
Gout Therapeutics Market
What Is the Expected CAGR for the Gout Therapeutics Market Through 2025?
The market size for gout therapeutics has expanded significantly in recent times. It is projected to rise from $2.88 billion in 2024 to a substantial $3.23 billion by 2025, marking a compound annual growth rate (CAGR) of 12.2%. The historical period of growth is due to factors such as the rising prevalence of gout, changes in lifestyle and diet patterns, the increase in high blood pressure and diabetes incidence, the advancement of xanthine oxidase inhibitors, and initiatives to educate patients.
What's the Projected Size of the Global Gout Therapeutics Market by 2029?
There is a prediction for rapid expansion in the gout therapeutics market size in the coming years. The market is expected to grow to $5.03 billion by 2029, with a compound annual growth rate (CAGR) of 11.7%. The predicted growth during this period can be linked to the increase in healthcare spending, advancements in medication delivery systems, the emergence of new treatment therapies, government-led initiatives for managing chronic diseases, and groups advocating for patient support. Key market trends to watch out for during this forecast period include the development and approval of innovative drugs, personalized treatment plans, utilization of telehealth services in managing gout, and research into therapies that lower urate levels.
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Top Growth Drivers in the Gout Therapeutics Industry: What's Accelerating the Market?
The escalating prevalence of gout is anticipated to fuel the expansion of the gout therapeutics market in the future. Gout is an inflammatory arthritis disorder that triggers joint pain and swelling. Therapies for gout aim to treat and alleviate joint discomfort, swelling, and tenderness. Consequently, the escalating rate of gout is predicted to amplify sales in the gout therapeutics market. For example, the Australian Institute of Health and Welfare, a United States government establishment, stated in June 2024 that gout was marked as a fundamental and contributing factor in 573 fatalities in Australia in 2022, translating to 2.2 deaths for every 100,000 individuals. Thus, the escalating prevalence of gout is propelling the expansion of the gout therapeutics market.
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What Trends Will Shape the Gout Therapeutics Market Through 2029 and Beyond?
The increasing popularity of product innovation is a noticeable trend in the gout therapeutics market. To maintain their market dominance, key players in the gout therapeutics industry are creating novel treatment approaches. For example, Synlogic Inc., an American pharmaceutical firm, launched SYNB2081, a breakthrough drug for gout therapy in August 2022. The drug, SYNB2081, is a synthetic biotic meant to reduce uric acid levels. This is the second clinical medicine from a research partnership between Synlogic and Ginkgo, an American biotech firm.
What Are the Main Segments in the Gout Therapeutics Market?
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
Subsegments:
1) By Nonsteroidal Anti-Inflammatory Drugs (NSAIDs): Traditional NSAIDs, Selective COX-2 Inhibitors
2) By Corticosteroid: Oral Corticosteroids, Injectable Corticosteroids
3) By Diuretics: Thiazide Diuretics, Loop Diuretics
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Which Top Companies are Driving Growth in the Gout Therapeutics Market?
Major companies operating in the gout therapeutics market include 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., CymaBay Therapeutics Inc., GeneScience Pharmaceuticals Co. Ltd., Shanton Pharma
Which Regions Will Dominate the Gout Therapeutics Market Through 2029?
North America was the largest region in the gout therapeutics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gout therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Report Summary
The global gout therapeutics market was valued at USD 2.78 Billion in 2021 and is expected to grow at a CAGR of 13.7% during the forecast period 2023-2032.
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Patients with multiple episodes of severe gout attacks every year or with…
