Market Overview:
Gout is a type of inflammatory arthritis caused by the overabundance of uric acid in the body which is due to either producing too much or excreting too little. Gout can be acute and chronic. Acute gout mostly affects the major extremity joint, with the small joints of the hands and feet the most affected. In chronic gout, hard swellings ( known as tophi) can form on the joints which are made of uric acid and grow large, even to the point of breaking through the skin.
Market Size Growth Rate:
According to the research report published by the DataM Intelligence, the Europe gout therapeutics market size was valued at USD XX billion in 2021, it is projected to reach at USD XX billion by 2029, with growth at a CAGR of XX% over the forecast period 2022-2029.
The Europe gout therapeutics market has positive market growth over the forecast period due to surge in adoption of biosimilar products, and large base of pharmaceutical companies. The rising knowledge among citizens about the different treatments accessible to treat this disease is also anticipated to boost the development of the market in this region.
Market Drivers:
The Europe gout therapeutics market is impacted by several factors such as rising prevalence of gout in this region due to change in lifestyle, increasing alcohol consumption, increasing obesity & kidney diseases, high purine diet, and consumption of several medications such as diuretics. Other major factors driving the growth of the market are rising adoption of biologics and increasing R&D on regenerative medicines, technological advancements in imaging modalities improved. This condition can be treated or prevented with the use of drugs such as nonsteroidal anti-inflammatory drugs, corticosteroids, colchicine, and urate-lowering agents.
Market Restraints:
Factors such as the adverse effects of the drugs may hamper the market growth. In Europe there have been reports of patients dying of renal failure after using benzbromarone, because of the side effects, doctors tend to prescribe low-dose colchicine for people with renal or hepatic impairment.
Market Opportunities
Demand for effective therapeutics for gout treatment is increasing. Numerous pipeline products and recent approvals of drugs to treat gout therapeutics are expected to the new opportunity for the market. New medication are being developed, such as arhalofenate, which is estimated to target renal transporters of uric acid, primarily URAT1 and OAT4, acting as uricosuric agents. Arhalofenate has been investigated for the treatment of Gout and Hyperuricemia.
COVID-19 Impact Analysis
The Covid – 19 pandemic is expected to impact the growth of the gout therapeutics market over the forecast period. According to the CreakyJoints, May 2020, people with gout may be considered in a higher-risk group for potential COVID-19 complications. The coronavirus (COVID 19) pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors. The private healthcare sector is one the sectors, which has been majorly impacted by the COVID 19 pandemic..
Recent Developments in the Industry:
- In May 2021, Fortress Biotech, Inc., an innovative biopharmaceutical company, has entered into an exclusive licensing agreement with Fuji Yakuhin Co. Ltd. to develop Dotinurad in the United States, United Kingdom, European Union and Canada. Dotinurad is a potential best-in-class urate transporter (URAT1) inhibitor that was approved for the treatment of gout and hyperuricemia in Japan in 2020.
- In August 2018, Grunenthal received European approval for Duzallo (lesinurad/allopurinol) and extended its gout portfolio.
Market Segmentation:
As per the research analysis, the gout therapeutics market is segmented by drug class into non-steroidal anti-inflammatory drugs (NSAIDs), anti-hyperuricemic agents (urate-lowering drugs), corticosteroids, colchicine, and others. Based on disease type, the market is further segmented into acute gout and chronic gout. Further by distribution channel, the market is divided into hospital pharmacies, drug stores, online pharmacies, and others
- On the basis of drug class, the NSAIDs segment is estimated to grow at highest CAGR of 7.3% during the forecast period (2022-2029) . The non-steroidal anti-inflammatory drugs (NSAIDs) are estimated to dominate the gout therapeutics market in 2020, owing to availability of these
drugs at a lower cost compared to other drugs, high level of penetration of drugs, and the ability to relieve pain in case of an acute gout attack. NSAIDs are the first line drugs used to decrease the inflammation and the associated pain of rheumatic and non-rheumatic diseases.
- Based on disease type, chronic segment accounted for the largest market share of around 70% in 2020 and expected to grow at a CAGR of 7% during the forecast period (2022-2029). Chronic tophaceous gout is the most debilitating type of gout. This segment encompasses urate-lowering agents such as xanthine oxidase inhibitor and uricosuric agents. Introduction of urate-lowering drugs and expected entry of pipeline drugs are likely to drive the market at the fastest rate during the forecast period.
Geographical Classification:
The Europe gout therapeutics market is segmented into major countries including UK, Germany, France, Italy, Spain and Rest of Europe.
Europe Gout Therapeutics Market:
In Europe region, the UK and Germany states holds the dominant share in 2020. Favorable reimbursement policies in developed countries for biologics propel the market in the region. Furthermore, development and launch of new gout drugs required to treat people suffering from gout diseases are expected to drive the gout therapeutics market during the forecast period. For instance, AstraZeneca announced that the European Commission (EC) has granted marketing authorization for ZurampicTM(lesinurad) 200mg in combination with a xanthine oxidase inhibitor (XOI) for the adjunctive treatment of hyperuricemia in adult gout patients (with or without tophi) who have not achieved target serum uric acid (sUA) levels with an adequate dose of an XOI alone.
The gout therapeutics market in the France is likely to expand at a rapid pace during the forecast period. The country is projected to retain its share of the gout therapeutics market from 2019 to 2027. Moreover, high incidence of gout arthritis is anticipated to propel the market in the France during the forecast period.
Competitive Analysis:
The Europe gout therapeutics market is highly competitive with the presence of major players and small emerging players. In the gout therapeutics market, The market players are involved in developing cost-effective drugs to gain market share. The market players are adopting various key strategies such collaborations, partnerships, acquisition, product launch to expand their presence.
Major Companies:
Some of the major players of the market are Novartis AG, Merck & Co. Inc., Teva Pharmaceuticals Industries Limited, Boehringer Ingelheim Group, Astrazeneca Plc, Takeda Pharmaceutical Company, CymaBay Therapeutics, Inc., JW Pharmaceutical Corporation, Romeg Therapeutics, LLC, Avion Pharmaceuticals, LLC, among others.
Additional Benefits Post Purchase:
1) Unlimited Analyst support for a period of 1 year.
2) Any query with regards to the scope offered will be addressed within 24- 48 hours.
3) An excel sheet with market numbers will be provided separately.
The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
- Visualize the composition of the Europe gout therapeutics market segmentation by disorder, service provider, and country highlighting the key commercial assets and players.
- By Drug Class: Non-steroidal anti-inflammatory drugs (NSAIDs), Antihyperuricemic agents (urate-lowering drugs), Corticosteroids, Colchicine, and others
- By Disease Type: Acute Gout and Chronic Gout
- By Distribution Channel: Hospital Pharmacies, Drug Stores, Online Pharmacies, And Others
- By Country: Germany, U.K., France, Spain, Italy, Rest of Europe
- Identify commercial opportunities in the Europe Gout Therapeutics market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as, porter’s five forces, regulations in each country, supply chain analysis, pipeline analysis, and pricing analysis.
- Excel data sheet with thousands of data points of Europe gout therapeutics market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 50+ market data tables, 40+ figures, and close to 180 pages.
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