ALBANY, N.Y, Nov. 19, 2020 /PRNewswire/ -- Alcohol consumption has risen to a great extent over the years. The busy lifestyle and the growing stress among a considerable chunk of the populace have led to excess consumption of alcohol. Consumption of alcohol, in excess, is not good for the body and leads to gout. Thus, the swelling numbers of alcohol consumers may serve as a vital growth-generating factor for the gout therapeutic market.
Gout is a severe form of arthritis and can result in sudden attacks of pains in the joints. It is caused by urate crystals deposition and hyperuricemia. It is more common in males as compared to females. Severe pain, redness and tenderness in joints are some of the common symptoms of gout.
According to the Nationwide Emergency Sample (NEDS), the total number of ED visits per year among the patients with a primary diagnosis of acute gout has increased by 26.8 percent from 2006 to 2014.
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Gout is often prevalent among older individuals. Thus, the expanding geriatric population is also a great growth generator for the gout therapeutic market.
The increasing prevalence of gout has urged the researchers to accelerate their activities to enable advancements. Escalating investments in the gout therapeutic sector may substantially bring notable growth. The heightening awareness about the benefits of gout therapy may serve as a prominent growth booster for the gout therapeutic market.
A considerable rise in research and development activities for finding an effective therapy for gout may invite expansive growth opportunities for the gout therapeutic market. The rise in innovations in the biologics field is further inviting immense growth prospects for the gout therapeutic market. The cost-effectiveness of drugs related to gout is also a notable factor that positively influences the growth of the gout therapeutic market.
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Gout Therapeutic Market: Major Findings
- On the basis of drug type, the antihyperuricemic agents (urate-lowering drugs) held a prominent share in 2018
- The antihyperuricemic agents are expected to expand at a high CAGR between 2019 and 2027
- The retail pharmacy segment acquired a major share of the global gout therapeutic market in 2018
- The hospital pharmacy segment may harness immense growth for the gout therapeutic market during the forecast period of 2019-2027
- North America held a prominent share of the gout therapeutic market in 2018 in terms of geography
- Europe is anticipated to record a high CAGR across the forecast period of 2019-2027
Explore 165 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Gout Therapeutic Market (Drug Type - Colchicine, Antihyperuricemic Agents (Urate-Lowering Drugs), Non-steroidal Anti-inflammatory Drugs (NSAIDs), Corticosteroids, Biologic Response Modifiers (Biologics); Distribution Channel - Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/report-toc/66875
Gout Therapeutic Market: Growth Boosters
A stressed lifestyle coupled with incessant smoking and alcohol consumption among a large chunk of the global populace may bring tremendous growth prospects for the gout therapeutic market during the forecast period of 2019-2027.
- The introduction of novel drugs may bring considerable growth for the gout therapeutic market during the assessment period
- A massive number of ongoing clinical trials may further boost the growth of the gout therapeutic market
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Gout Therapeutic Market: Competitive Insights
The global gout therapeutic market is consolidated with a handful of companies accounting for a vital market share. Manufacturers in the gout therapeutic market indulge in activities like mergers, acquisitions, joint ventures, collaborations, and partnerships. These activities help the players to gain influence and eventually lead to an increase in the growth rate of the gout therapeutic market.
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The global gout therapeutics market has been segmented as follows:
By Drug Type
- Antihyperuricemic Agents (Urate-Lowering Drugs)
- Non-steroidal Anti-inflammatory Drugs (NSAIDs)
- Biologic Response Modifiers (Biologics)
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Arthritis Therapeutics Market: Analysts of the report opine that, the arthritis therapeutics market will record 8.5% more sales in 2019 over 2018, and continue to advance at a CAGR of ~6% during 2019-2027. Increasing incidence of arthritis, including rheumatoid arthritis, osteoarthritis, psoriatic arthritis, gout, and other types of arthritis across the globe, is a major factor that is likely to fuel the global market
Rheumatology Therapeutics Market: A report by Transparency Market Research uncovers after in-depth study that the global rheumatology therapeutics market will rise at a lackluster CAGR of 2.7% from 2017 to 2025 to become worth US$ 52.96 bn by 2025 from US$41.88 bn in 2016. A rising elderly population and increasing allocations for research and development of new drugs is what is serving to drive growth in the global market
Gout Therapy Market: Development of novel systemic treatment with enhanced safety and efficiency by drug manufactures is expected to boost the gout therapy market. North America and Europe are expected to dominate the market due to higher prevalence of gout in the regions. The Asia Pacific market is projected to hold second highest share in the market owing to rising prevalence of the disease in China and India.
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