Gout Therapeutics Market by Drug Class and Geography - Forecast and Analysis 2021-2025

The gout therapeutics market is projected to grow by USD 2.69 billion with a CAGR of 14%, during the forecast period 2020 to 2025.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by drug class (NSAIDs, urate-lowering agents, corticosteroids, and colchicine) and geography (North America, Europe, Asia, and ROW).

The gout therapeutics market report also offers information on several market vendors, including AstraZeneca Plc, Avion Pharmaceuticals LLC, Cadila Healthcare Ltd., Hikma Pharmaceuticals Plc, Horizon Therapeutics Plc, Ironwood Pharmaceuticals Inc., JW Pharmaceutical Corp., Selecta Biosciences Inc., Takeda Pharmaceutical Co. Ltd., and Teijin Ltd. among others.

Cadila Healthcare Ltd. - The company offers gout therapeutics products such as US RLD is used to treat and prevent low levels of blood clotting factors. The pharmaceuticals segment represents the business of integrated pharmaceutical operations with business encompassing the entire value chain in the research, development, production, marketing and distribution of pharmaceutical products.

What will the Gout Therapeutics Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global gout therapeutics Market 2021-2025 market as a part of the global pharmaceuticals market within the overall healthcare industry. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the gout therapeutics market during the forecast period.

Gout Therapeutics Market: Key Drivers, Trends, and Challenges

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Gout Therapeutics Market Driver

• One of the key factors driving growth in the gout therapeutics market is the technological advancements in medical imaging.
• Advances in the medical imaging field will indirectly increase the percentage of the treatment-seeking population, thereby increasing the penetration rate of drugs.
• The various medical imaging methods used for the diagnosis of gout include ultrasound, computed tomography (CT), conventional radiography (CR), magnetic resonance imaging (MRI), X-ray, nuclear medicine, and dual-energy computed tomography (DECT). 
• Vendors are also developing 2D, 3D, and 4D equipment in the area of medical imaging. They are developing image workstations that provide 3D skeletal construction images for orthopedics with lower X-ray doses. Such innovations are expected to augment the growth of the market in focus during the forecast period. 

Key Gout Therapeutics Market Challenge

• Low physician and patient awareness will be a major challenge for the gout therapeutics market during the forecast period.
• Reasons for insufficient gout treatment include a poor patient understanding of the disease and a lack of physician awareness to prescribe targeted treatment plans. 
• The lack of awareness related to the disease condition and the therapies available for the treatment of gout, primarily in rural areas, are the major challenges faced by the market in developing countries.
• Insufficient health infrastructure, limited awareness, and low health budgets pose a threat to the market in focus on developing countries. Thus, the lack of awareness among people and physicians is posing a threat to the growth of the global gout therapeutics market. 

This gout therapeutics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Gout Therapeutics Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the gout therapeutics market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for the Gout Therapeutics Market?

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43% of the market’s growth will originate from North America during the forecast period. The US is the key market for gout therapeutics in North America. Market growth in this region will be slower than the growth of the market in other regions. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What is the Fastest-Growing Drug Class Segment in the Gout Therapeutics Market?

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The gout therapeutics market share growth by the NSAIDs segment will be significant during the forecast period. Non-opioid analgesics are commonly used medications because of their efficacy in antipyretic, analgesic, and anti-inflammatory actions. The inhibition of the cyclooxygenase enzyme due to the blocking of the formation of prostaglandins in the peripheral tissues by NSAIDs will reduce the pain at the site of injury. NSAIDs are further classified into COX-1 and COX-2 inhibitors. The adverse effects associated with NSAIDs are platelet dysfunction, bleeding, increased thrombotic events, delayed bone healing, bronchospasm, and renal toxicity.

This report provides an accurate prediction of the contribution of all the segments to the growth of the gout therapeutics market size and actionable market insights on the post-COVID-19 impact on each segment. 

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What are the Key Data Covered in this Gout Therapeutics Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive gout therapeutics market growth during the next five years
• Precise estimation of the gout therapeutics market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the gout therapeutics market industry across North America, Europe, Asia, and ROW
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive analysis of factors that will challenge the growth of gout therapeutics market vendors

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