Description:Global Gout Therapeutic Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of 15.5 % during forecast period 2019 to 2026.
To know about the Research Methodology :- Request Free Sample... moreGlobal Gout Therapeutic Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of 15.5 % during forecast period 2019 to 2026.
To know about the Research Methodology :- Request Free Sample Report
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Gout is a form of inflammatory arthritis characterized by recurrent attacks of a red, tender, hot, and swollen joint. Pain typically comes on rapidly, reaching maximal intensity in less than 12 hours. Gout is due to persistently elevated levels of uric acid in the blood. This occurs from a combination of diet, other health problems, and genetic factors.
Global Gout Therapeutic Market key segmentation
The urate lowering agents drug type is projected to grow at a faster rate among all the covered drug types. These agents are characterized majorly by the existence of xanthine oxidase inhibitor and uricosuric agents. Introduction of various drugs and growing preference towards adoption of this treatment is also expected to drive the growth in this industry.
The online pharmacy segment is likely to expand at a rapid pace during the forecast period. Increase in the number of players by online pharmacy segment and acceptance of several gout therapeutics as over-the-counter drugs in the medical therapy to fulfill the rising demands of health care market are projected to boost the online pharmacy segment.
Non-steroidal anti-inflammatory drugs (NSAIDs) was observed to be the dominant drug type in this market during 2018. Its cost effectiveness as compared to other drugs and easy availability in the market is another factor supporting the growth of this drug class during the forecast period.
Global Gout Therapeutic Market Drivers and Restrains
High share hold 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 is considered to be the prominent factor fueling the market. Rising preference for combination therapies due to benefits such as speeding up the treatment process, reduction in side effects are also another factors enhancing the market growth. The incidence of gout has increased to a great extent in the past two decades.
Stringent regulations and patent expiry of various blockbuster drugs are key restraints for the global Gout disease treatment market. Increasing mergers and collaborations between major companies and rapid product launches are major factors boosting the global Gout disease treatment market. 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 urate-lowering drugs segment.
Increased adoption of biologics, R&D on regenerative medicines and technological advancements in imaging modalities improving the gout understanding and clinical applications ultimately driving the global gout therapeutic market. Lifestyle factors such as increasing smoking prevalence & alcohol consumption and stressed lifestyle is likely to boost the incidence of gout over the period, 2019-2026.
Global Gout Therapeutic Market Regional Analysis
North America held highest share of global gout therapeutic market 2018. High prevalence of gout owing to lifestyle issues such as high alcohol intake, obesity, and smoking resulting in the inflammatory disorder responsible for increase growth rate. Europe is considered 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, Attributed to these factors along with the adoption of innovative treatments and increased understanding about arthritic conditions, the market in Europe region is observed to be the dominant market during forecast period. 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 2026.
The objective of the report is to present comprehensive analysis of Global Gout Therapeutic Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will... less
