Global Gout Therapeutics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Gout Therapeutics Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Gout Therapeutics market finds that the global Gout Therapeutics market reached a value of USD 3940.5 million in 2022. It’s expected that the market will achieve USD 7384.8 million by 2028, exhibiting a CAGR of 11.04% during the forecast period.

Influence of COVID-19 Outbreak on Gout Therapeutics Industry Development

The impact of the epidemic on the industry is mainly concentrated on the production side. Due to the high infectiousness of COVID-19, the government has implemented strict controls. Enterprises stopped normal operations in the first few months of the outbreak, and public places were blocked. Except for hospitals and medical protective equipment manufacturers, other economic activities were almost absent. In addition, according to data, the incubation period of the new coronavirus that caused this epidemic is about 7-14 days. In many countries, there are many cases of transmission in long-distance buses, trains, airplanes and other transportation vehicles. Therefore, areas with more severe epidemics have taken certain measures to control transportation. This has hit some companies in areas where the epidemic is relatively mild and can start operations normally. Because even if they start operations at normal times, they will face insufficient supply of raw materials, resulting in lower-than-normal capacity utilization.

The current risk is that the epidemic is likely to break out again in the winter. Although the demand side is not greatly affected, the recurrence of the epidemic will affect people's purchasing power, which will adversely affect downstream demand. The impact of the epidemic on the industry depends on the ultimate development. Taking into account the COVID-19 outbreak again, policy control, logistics control and other uncertain factors, it is expected that this year's growth will hardly exceed previous years.

Strength

Strong downstream demand:
Gout is a common type of arthritis that causes severe joint pain, usually starting in the big toe. But other joints and areas around joints are also affected, such as ankles, knees and feet. It tends to affect men after 40 and women after menopause. Age, unhealthy diet and schedule, excessive drinking, obesity and so on can all cause gout. Therefore, with the aging of the population and the increase in obesity, the downstream demand for gout treatment is increasing.
Growing consumption power
With the development of the economy, the overall purchasing power has become stronger and stronger. Globalization has opened up international markets for companies, and the increase in transaction frequency and sales volume has increased people's income. The increase in personal disposable income allows people to spend more money on maintaining good health, rather than just focusing on daily necessities. Therefore, the strengthening of consumption power is also good for the development of the industry.
Relative high barrier of entry
This industry is part of the pharmaceutical industry, it has certain requirements for capital and technology, and has a relatively high policy threshold. A large amount of early-stage investment, long R&D cycle, and complicated review process have formed a relatively high industry threshold. High industry barriers will eliminate backward companies and hinder the entry of unqualified companies. This will help outstanding companies develop and consolidate their stable market positions, thereby promoting industry development.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Takeda Pharmaceuticals, Horizon Pharma, AstraZeneca, GlaxoSmithKline and Novartis are the five key players in the global Gout Therapeutics market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Gout Therapeutics market in the past 5 years.

Takeda Pharmaceutical Co., Ltd. is a Japanese multinational pharmaceutical and biopharmaceutical company. The company has 49,578 employees worldwide. The company, through its independent subsidiaries, focuses on metabolic disorders, gastroenterology, neurology, inflammation and oncology, etc. Its headquarters are in Japan.

Horizon Therapeutics plc is a biopharmaceutical company dedicated to research, development and commercialization of drugs that meet the critical needs of patients with rare and rheumatic diseases. Horizon's drug portfolio focuses on the treatment of thyroid eye disease (TED), gout, rare diseases and inflammatory diseases.

Segmentation Overview:

Among different product types, Urate-Lowering Agents segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Hospitals segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Gout Therapeutics market covered in Chapter 3:

Teijin Pharma
Novartis
GlaxoSmithKline
Astellas Pharma
AstraZeneca
Hikma Pharmaceuticals PLC
Takeda Pharmaceuticals
Mylan N.V.
Horizon Pharma

In Chapter 4 and Chapter 14.2, on the basis of types, the Gout Therapeutics market from 2018 to 2029 is primarily split into:

NSAIDs
Corticosteroids
Colchicine
Urate-Lowering Agents
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Gout Therapeutics market from 2018 to 2029 covers:

Hospitals
Clinics
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)