Gout Therapeutic Market Size, Share, Growth, Trends, and Forecast 2020-2027

The global gout therapeutic market is growing at a CAGR of around 8.5% for the given projection period of 2020 to 2027, the market is then estimated to reach a valuation worth US$ 3810 mn by the fall of 2027.

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.

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.

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.

Overview

The report analyzes and forecasts the gout therapeutic market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level. For the region and all segments, the sales, revenue and their market share, growth rate are key research objects; we can research the manufacturers' sales, price, revenue, cost and gross profit and their changes. What's more, we will display the main consumers, raw material manufacturers, distributors, etc.

This report first introduces the background of gout therapeutic, including the definition, classification, application, industrial chain structure, industry overview, national policy and planning analysis of the industry, and the latest dynamic analysis. With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major gout therapeutic companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of gout therapeutic upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of gout therapeutic and consumption, major regions and consumption, major global producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The report comprises a detailed value chain analysis, which provides a comprehensive view of the global gout therapeutic market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the gout therapeutic market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report provides size (in terms of volume and value) of gout therapeutic market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

Some of the key players are Takeda Pharmaceutical Company Ltd.; Novartis AG; Savient Pharmaceuticals; AstraZeneca plc; GlaxoSmithKline plc; Merck& Co. Inc.; Teijin Pharma Ltd.; and Regeneron Pharmaceuticals.

Further key findings from the study suggest:

• Nonsteroidal Anti-inflammatory Agents (NSAIDs) accounted for the highest share of the market in 2015, which can be credited to highest penetration, higher demand due to low cost, and efficient pain relief.
• Urate-lowering agents segment is expected to grow at the highest rate over the coming years. Expected entry of various new drugs, increasing adoption of drugs, and growing investment by key players for development of these agents are likely to drive the segment.
• Chronic gout dominated in 2015 and is expected to maintain its dominance during the forecast period. Approval of new drugs to treat chronic gout and long-term expenditure for treatment are the key factors responsible to propel the industry.
• NSAIDs, colchicine, and corticosteroids are majorly used to treat acute gout, and urate-lowering agents are utilized in chronic gout treatment in combination with NSAIDs or Colchicine.
• Geographically, North America dominated the overall industry in 2015. This is attributed to higher adoption of the newer & expensive treatments and rising awareness about arthritic conditions.
• Asia Pacific is expected to witness highest growth during the forecast period due to growing awareness and increasing healthcare expenditure. Furthermore, growing investment in the region by key players is likely to boost the regional growth.

The global gout therapeutics market has been segmented as follows:

Global Gout Therapeutics Market, by Drug Type

• Colchicine
• Antihyperuricemic Agents (Urate-Lowering Drugs)
• Non-steroidal Anti-inflammatory Drugs (NSAIDs)
• Corticosteroids
• Biologic Response Modifiers (Biologics)

Global Gout Therapeutics Market, by Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

Global Gout Therapeutics Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.

Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.

The study objectives of this report are:

• To analyze and study the global gout therapeutic capacity, production, value, consumption, status (2014-2018) and forecast (2019-2026);
• Market value USD Million and volume Units Million data for each segment and sub-segment
• Focuses on the key gout therapeutic manufacturers, to study the capacity, production, value, market share and development plans in future.
• Focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.