The global gout therapeutics market is expected to reach USD 7.63 billion by 2029 according to a new study by Polaris Market Research. The report “Gout Therapeutics Market Share, Size, Trends, Industry Analysis Report, By Drug Class (Non-steroidal Anti-Inflammatory Drugs (NSAIDs), Corticosteroids, Colchicine, Urate Lowering Agents) Disease Condition (Acute, Chronic); By Region, Segments & Forecast, 2022 - 2029” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The worldwide gout therapeutics industry was quite large in 2021, and it is predicted to grow at a steady rate throughout the projected timeline. Changing lifestyles, a growing elderly population, a rise in the number of people suffering from severe gout, increased research and development efforts, and technical advancements in biologics to cure and control the illness amongst patients globally are driving industry revenue expansion.
Over the projected period, the industry will also benefit from increased research & development to deliver innovative therapeutics. In October 2019, scientists from Washington State University Health Sciences Spokane and other institutions discovered a novel therapeutic strategy to cure gout. The study provides the groundwork for novel treatment techniques that might significantly enhance the standard of living for Billions of individuals suffering from the disease throughout the world.
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North America dominates the worldwide industry since nations like the U.S. and Canada have a huge patient population and perform considerable research. Because many of the major firms in this industry category are situated in the United States, new products are predominantly released in this area, contributing to the industry development.
Some of the major industry players operating in the global market are Ablynx, Antares Pharma, Astellas Pharma, AstraZeneca, Boehringer Ingelheim, CymaBay Therapeutics, Eisai, Eli Lilly, GlaxoSmithKline, Horizon Pharma, JW Pharmaceutical, LG Life Sciences, Merck, Novartis, Novo Nordisk, Regeneron Pharmaceuticals, Sandoz, Sanofi, Takeda Pharmaceuticals, Teijin Pharma, and Vertex Pharmaceuticals.
Product releases, product clearances, and other sustainable growth tactics such as patents and activities are being prioritized by several firms. Merger and acquisition and partnerships & collaborations were two inorganic growth tactics seen in the industry. These efforts have opened the road for market participants to expand their business and client base.
Polaris Market Research has segmented the gout therapeutics market report on the basis of drug class, disease condition, and region:
Gout Therapeutics, Drug Class Outlook (Revenue – USD Billion, 2017 - 2029)
Gout Therapeutics, Disease Condition Outlook (Revenue – USD Billion, 2017 - 2029)
Gout Therapeutics Regional Outlook (Revenue – USD Billion, 2017 - 2029)