According to the report, the global gout therapeutics market was valued at US$ 1874 Mn in 2018. It is projected to expand at a CAGR of 8.3% from 2019 to 2027. 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.
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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.
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.
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. 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. 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. 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 therapeutic market during the forecast period.
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Based on distribution channel, the retail pharmacy segment is projected to account for a dominant share of the global gout therapeutic 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.
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.
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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.
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