According to the latest market report published by Credence Research, Inc. “Gout Therapeutics Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global gout therapeutics market, expanding at a CAGR of 15.6% from 2017 to 2025.
Browse the full report Gout Therapeutics Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/gout-therapeutics-market
Gout is a complex form of inflammatory arthritis characterized by acute intermittent episodes of inflammation and pain. Gout therapeutics market is rapidly growing due to factors such as increasing incidence of gout, significant unmet needs and rising number of obese and geriatric population. Strategic partnership of key players with small manufacturers in the market is expected to drive market growth during forecast period. In April 2016, AstraZeneca entered into licensing agreement with Ironwood Pharmaceuticals, which granted the United States exclusive rights to AstraZeneca for Zurampic (lesinurad) and it is expected that AstraZeneca will successfully promote Zurampic in the United States which would further drive the gout therapeutics market growth.
For the purpose of study, global gout therapeutics market is segmented on the basis of drug classes such as non-steroidal anti-inflammatory drugs (NSAIDs), colchicine, corticosteroids and uric acid lowering agents. Currently, the trend of administering combination of uric acid lowering agents is observed in the market and it is estimated that it will show significant market growth during forecast period due to its effectiveness and lower adverse effects. The newly approved drug, Duzallo (lesinurad and allopurinol), approved in 2017 is expected to exceed total annual U.S. peak sales of $300 million. Strong presence of pipeline molecules such as arhalofenate, bucillamine, levotofisopam, ulodesine, verinurad etc. is expected to assist in achieving significant market growth over the forecast period 2017-2025. In the recent years, demand for biologics has increased in market due to its target specificity. Approved biologics such as Canakinumab and Krystexxa are driving the growth of gout therapeutics market globally.
Geographically, the global gout therapeutics market is currently dominated by North America, factors such as higher cost of therapeutics, increase in number of gout patients, favorable government reimbursement policies in healthcare systems and high healthcare awareness are fueling the growth of gout therapeutics market in North America. Expected launch of novel therapeutics such as halofenate, bucillamine, levotofisopam, ulodesine, verinurad would further assist market growth during the forecast period. However, Asia Pacific is expected to show fastest market growth during forecast period due to developing economic conditions, rising healthcare awareness and rapid evolution of healthcare infrastructure would drive the market growth during forecast period.
Market Competition Assessment:
The gout therapeutics market is observed to be highly competitive and comprises large number of players. The market is currently dominated by few players such as Ardea Biosciences Inc., AstraZeneca plc., BioCryst Pharmaceuticals Inc., Cymabay Therapeutics, Inc., GlaxoSmithKline plc., Horizon Pharma Plc., Novartis AG, Regeneron Pharmaceuticals Inc., Sanofi Aventis, Savient Pharmaceuticals, Inc., Selecta Biosciences, Inc., Takeda Pharmaceutical Company Ltd., Teijin Pharma Ltd., and other.
Key Market Movements:
- Factors such as rising prevalence of gout, strong presence of pipeline molecules, increasing treatment awareness, and favorable reimbursement policies in developed countries are driving the market growth of gout therapeutics
- Due to the higher unmet needs, vendors in the market are focusing in development of ideal treatment, promising pipeline molecule, rising access for the treatment medication in some developing countries the growth of gout therapeutics market during forecast period is ensured
- However, popularity of lower cost OTC drugs and patient preference for home remedies are negatively impacting the growth of gout therapeutics market globally