Technavio, a tech-focused market research firm, has published a new report on the global gout therapeutics market, which is expected to experience a slow but steady growth rate with a CAGR of around 9% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global gout therapeutics market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global gout therapeutics market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global gout therapeutics market for 2015 (market share %)
|
Americas |
49% |
|
EMEA |
28% |
|
APAC |
23% |
Source: Technavio
Gout therapeutics market in the Americas
The Americas accounted for around 49% of the global gout therapeutics market in 2015. The high occurrences of gout in the US is leading to an increase in the consumption of gout medicines, which is driving growth of the market in the region.
According to Sapna Jha, a lead analyst at Technavio, specializing in research on infectious and rare diseases “The market is expected to witness the launch of few novel therapies such as llaris and lesinurad FDC during the forecast period in the US. Also, few molecules that have proved to benefit over the standard of care, are under medical trial. These advancements show that the market for gout treatment have a favorable market potential and will grow successfully in the Americas over the predicted period.”
Owing to the expensive treatment of gouts, both the government as well as non-governmental organizations (NGOs) are coming up with assistance programs or initiatives to make these drugs available at reasonable prices. The Patient Protection and Affordable Care Act (ACA) or Obamacare aims to provide affordable health insurance, improve the quality of healthcare, and regulate the health insurance industry in the US. ACA helped over 94% of the US population get health insurance coverage. Moreover, the Act has huge impact on gout medication such as granting wide insurance coverage for people and easy access to important healthcare benefits and biologics at reduced prices.
Further, the Patients’ Access to Treatments Act allows patients to obtain proper treatments and limits healthcare costs. A few vendors in the market are providing individuals the option of applying for financial co-pay assistance or free medications. The introduction of such new laws and initiatives will improve the availability and affordability of life saving drugs, further contributing to the growth of the market in the region.
Gout therapeutics market in EMEA
EMEA accounted for around 28% of the global gout therapeutics market in 2015. The key revenue generators of the EMEA are the UK, Germany, France, Italy, and Spain. due to the high prevalence rates of gout. Europe is expected to witness around 2 times higher prevalence rate than in the US over next five years. In terms of medication, the most popular drug used for treating gout disease in EMEA is xanthine oxidase inhibitor, allopurinol. The top vendors in Europe have put more emphasis on R&D investment and first-to-market strategies through amalgamations. The gout therapeutics market in Europe may get matured in the coming years, however the requirement for novel and more effective solutions still exists in the market. The emerging therapies in Europe must have effective cost-benefit analysis to attain the impressive market access and favorable reimbursement options, as the major markets in Europe keep revising their healthcare costs.
Gout therapeutics market in APAC
In 2015, APAC accounted for around 23% of the global gout therapeutics market and despite contributing the least among all regions, it is anticipated to witness highest growth during the forecast period. The market growth in APAC is mostly driven by the older population, demographic transition, increased awareness among people, and the rise in healthcare expenditure. The key revenue generators of the market are India and China. It is expected that the gout disease will prevail in APAC due to the rise in the older population in the region, resulting in an increase in age-related musculoskeletal disorders such as arthritis. These medical conditions will further drive in investments in the gout therapeutics market throughout the predicted period.
The top leading vendors operating in the global gout therapeutics market are:
- AstraZeneca
- Horizon Pharma
- Takeda Pharmaceuticals
Other prominent vendors in the market include Ablynx, Alder Biopharmaceuticals, Antares Pharma, Astellas Pharma, Boehringer Ingelheim, Can-Fite BioPharma, Celgene, Celltrion, ChemoCentryx, CymaBay Therapeutics, Eisai, Eli Lilly, Gilead Sciences, GlaxoSmithKline, Incyte, Ironwood Pharmaceuticals, JW Pharmaceutical, KaloBios Pharmaceuticals, Lexicon Pharmaceuticals, LG Life Sciences, Merck, Morphotek, Novartis, Novo Nordisk, Regeneron Pharmaceuticals, Sandoz, Sanofi, Santarus, Selecta Biosciences, Teijin Pharma, UCB, and Vertex Pharmaceuticals.
A more detailed analysis is available in the Technavio report tilted, ‘Global Gout Therapeutics Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Gastrointestinal Therapeutics Market 2016-2020
- Global Leukemia Therapeutics Market 2016-2020
- Global Metabolic Disorders Therapeutics Market 2016-2020
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