PUBLISHER: The Business Research Company | PRODUCT CODE: 1619667
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619667
Hyperuricemia medications are used to decrease elevated uric acid levels in the blood. These treatments function by either lowering uric acid production in the body or enhancing its elimination through urine. Typically administered orally, the dosage depends on the severity of hyperuricemia, the patient's tolerance, and any underlying health issues.
There are several types of hyperuricemia drugs, asymptomatic hyperuricemia, symptomatic hyperuricemia, and others. Asymptomatic hyperuricemia refers to elevated uric acid levels without noticeable symptoms, which is usually monitored to avoid complications such as gout or kidney stones. Hyperuricemia medications include nonsteroidal anti-inflammatory drugs, xanthine oxidase inhibitors, selective uric acid reabsorption inhibitors (SURI), uricosuric agents, and others. These medications treat various conditions, such as gout and kidney stones, and are used in settings such as hospitals, homecare, specialty clinics, and more.
The hyperuricemia drugs market research report is one of a series of new reports from The Business Research Company that provides hyperuricemia drugs market statistics, including hyperuricemia drugs industry global market size, regional shares, competitors with a hyperuricemia drugs market share, detailed hyperuricemia drugs market segments, market trends and opportunities, and any further data you may need to thrive in the hyperuricemia drugs industry. This hyperuricemia drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hyperuricemia drugs market size has grown strongly in recent years. It will grow from $4.39 billion in 2023 to $4.75 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The increase observed in the historical period is due to the rising incidence of gout, limited treatment options, an expanding elderly population, sedentary lifestyles, and heightened awareness of hyperuricemia.
The hyperuricemia drugs market size is expected to see strong growth in the next few years. It will grow to $6.54 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The forecast period, growth is driven by a higher prevalence of chronic kidney disease, an emphasis on early diagnosis, a growing interest in personalized medicine, the creation of new drug formulations, and a rise in healthcare spending. Key trends during this period include a greater focus on precision medicine, increased use of combination therapies, advancements in non-invasive treatments, a stronger emphasis on drug safety and efficacy, and progress in pharmacogenomics.
The increasing prevalence of hyperuricemia and gout is likely to drive the growth of the hyperuricemia drug market in the future. Hyperuricemia is characterized by high levels of uric acid in the blood, which can lead to gout, a painful arthritis caused by urate crystal deposits in the joints. The rise in hyperuricemia and gout is influenced by factors such as genetic predisposition, high purine intake from diet, obesity, kidney function, lifestyle choices such as alcohol consumption and dehydration, certain medications, and chronic conditions such as hypertension and diabetes. Drugs for hyperuricemia are crucial for managing uric acid levels, preventing the onset and progression of hyperuricemia and gout, and relieving associated symptoms. For example, The Lancet reported in July 2024 that gout was 3.26 times more common in men than women in 2020 and increased with age, with an estimated 95.8 million cases expected by 2050. This rising incidence is propelling the growth of the hyperuricemia drug market.
Major companies in the hyperuricemia drug market are concentrating on developing innovative products, such as therapeutic equivalent generic versions, to offer a cost-effective alternative that improves access to gout treatment for patients. Therapeutic equivalent generics are medications that contain the same active ingredient as brand-name drugs, are administered in the same dosage form, and are expected to have similar clinical effects and safety profiles. For example, in January 2024, Lupin, an India-based pharmaceutical company, received approval from the US health regulator for Febuxostat Tablets (40 mg and 80 mg) and Varenicline Tablets (0.5 mg and 1 mg). These generic drugs aim to provide more affordable options for patients needing hyperuricemia treatment (Febuxostat) and smoking cessation support (Varenicline). By offering these generics, Lupin seeks to enhance accessibility to essential medications, capture a share of the US pharmaceutical market, and provide patients with cost-effective alternatives for their healthcare needs.
In October 2023, Amgen Inc., a US-based pharmaceutical company, acquired Horizon Therapeutics plc for $27.8 billion. This acquisition is expected to enhance Amgen's ability to provide innovative therapies, especially for autoimmune and severe inflammatory diseases. Horizon Therapeutics PLC, is an Ireland-based biotechnology firm, offers anti-hyperuricemic drugs, including Krystexxa (pegloticase), which is used to treat chronic gout.
Major companies operating in the hyperuricemia drugs market are Pfizer Inc., Merck & Co., Bayer AG, Sanofi SA, Myers Squibb Bristol Company, AstraZeneca plc, Novartis AG, GlaxoSmithKline PLC, Roche Holdings Inc., Amgen Inc., Boehringer Ingelheim International GmbH, Teva Pharmaceuticals, Regeneron Pharmaceuticals Inc., Teijin Pharma Limited, Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Hikma Pharmaceuticals PLC, Amneal Pharmaceuticals Inc., Glenmark Pharmaceuticals Ltd., Kissei Pharmaceutical Co. Ltd., Himalaya Wellness Company, Fuji Yakuhin Co. Ltd.
North America was the largest region in the hyperuricemia drugs market in 2023. The regions covered in the hyperuricemia drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hyperuricemia drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hyperuricemia drugs market consists of sales of allopurinol, febuxostat, probenecid, and rasburicase. 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.
Hyperuricemia Drugs 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 hyperuricemia drugs 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 hyperuricemia drugs ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hyperuricemia drugs 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.