PUBLISHER: The Business Research Company | PRODUCT CODE: 1526972
PUBLISHER: The Business Research Company | PRODUCT CODE: 1526972
Gouty arthritis presents as an inflammatory joint condition marked by sudden, severe episodes of pain, swelling, and redness, commonly occurring in the big toe. This condition arises due to the buildup of uric acid crystals in the joints, triggering intense inflammation and discomfort. Management of gout involves a combination of medications and lifestyle adjustments aimed at reducing uric acid levels and preventing future flare-ups.
There are two primary types of gouty arthritis, acute and chronic. Acute gouty arthritis manifests abruptly, causing severe pain, swelling, and redness in the joints, often targeting the big toe. Treatment options encompass non-steroidal anti-inflammatory drugs (NSAIDs), pain relievers, corticosteroids, xanthine oxidase inhibitors, uricosurics, and diagnostic procedures such as joint fluid tests, blood tests, X-ray imaging, ultrasound, and dual-energy computed tomography (CT) scans. Distribution channels for these treatments include hospital and retail pharmacies, serving end-users such as hospitals, specialty clinics, and other healthcare facilities.
The gouty arthritis market research report is one of a series of new reports from The Business Research Company that provides gouty arthritis market statistics, including the gouty arthritis industry global market size, regional shares, competitors with the gouty arthritis market share, detailed gouty arthritis market segments, market trends, and opportunities, and any further data you may need to thrive in the gouty arthritis industry. These gouty arthritis market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The gouty arthritis market size has grown strongly in recent years. It will grow from $3.21 billion in 2023 to $3.44 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The historic period's growth can be attributed to several factors, including the widespread prevalence of chronic diseases, higher alcohol consumption rates, a growing elderly population, increased acceptance of advanced regenerative therapies, and escalating healthcare spending.
The gouty arthritis market size is expected to see strong growth in the next few years. It will grow to $4.57 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The forecast period's growth can be credited to enhancements in healthcare infrastructure, rising obesity rates, a higher incidence of gout, and heightened awareness among the populace. Major trends expected in this period include a surge in demand for effective treatment alternatives, advancements in regenerative therapies, technological innovations, new product launches, and regulatory approvals.
The growth of the gouty arthritis market is anticipated to be driven by the increasing prevalence of obesity. Obesity is defined as a medical condition characterized by excessive body fat accumulation, often assessed using the body mass index (BMI). The rising obesity rates are attributed to elevated consumption of high-calorie processed foods and sedentary lifestyles. This condition contributes to gouty arthritis by elevating uric acid production while impairing its elimination, leading to uric acid crystal buildup in the joints. Moreover, excess body weight adds strain to joints, worsening the inflammation and pain associated with gout. For instance, data from March 2022 released by the World Health Organization, a specialized agency of the United Nations based in Switzerland focusing on global public health, revealed that around 1 billion people, including 650 million adults, 340 million adolescents, and 39 million children, were classified as obese, with this number on the rise. Projections also suggest that by 2025, approximately 167 million adults and children will experience health issues due to excess weight. Consequently, the growing prevalence of obesity is fueling the expansion of the gouty arthritis market.
Major players in the gouty arthritis market are intensifying their efforts to develop innovative products such as cortrophin gel to offer more efficient and targeted therapies for managing the condition. Cortrophin gel, also referred to as repository corticotropin injection, is a purified form of the adrenocorticotropic hormone (ACTH) utilized in treating various inflammatory and autoimmune disorders, including gouty arthritis. For instance, in October 2023, ANI Pharmaceuticals, a US-based pharmaceutical company, gained approval from the Food and Drug Administration for a new 1-mL vial size of Purified Cortrophin Gel. This product is designed for adjunctive treatment in specific patients experiencing acute gouty arthritis flares. Presently, Cortrophin Gel stands as the sole FDA-approved adrenocorticotropic hormone (ACTH) therapy indicated for managing appropriate patients with acute gouty arthritis flares.
In December 2022, Innovent Biologics Inc., a China-based biotechnology company, partnered with LG Chem Life Sciences to develop and market Tigulixostat, a novel non-purine xanthine oxidase inhibitor (XOI) for gout disease treatment. This collaboration aims to broaden treatment options for gout patients by introducing Tigulixostat into the Chinese market. LG Chem Life Sciences, a US-based pharmaceutical company, specializes in developing treatments for gouty arthritis.
Major companies operating in the gouty arthritis market are Pfizer Inc., Roche Holding AG, Merck & Co. Inc., AbbVie Inc., Bayer AG, Bristol Myers Squibb, AstraZeneca plc, Novartis International AG, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Amgen Inc., Gilead Sciences Inc., Viatris Inc., Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Biogen Inc., Vertex Pharmaceuticals Incorporated, UCB S.A., Boehringer Ingelheim International GmbH, Sun Pharmaceutical Industries Ltd., Horizon Therapeutics plc, Dr. Reddy's Laboratories Ltd., Amneal Pharmaceuticals Inc., Lupin Pharmaceuticals Inc.
North America was the largest region in the gouty arthritis market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the gouty arthritis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the gouty arthritis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The gouty arthritis market consists of revenues earned by entities by providing services such as diagnostic testing, physical therapy, pain management programs, and dietary counseling. The market value includes the value of related goods sold by the service provider or included within the service offering. The gouty arthritis market also includes sales of ibuprofen, naproxen, topical pain relievers, and ice packs. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Gouty Arthritis Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on gouty arthritis market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for gouty arthritis ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The gouty arthritis market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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