Gouty Arthritis Global Market 2024 To Reach $4.57 Billion By 2028 At Rate Of 7.3%
Gouty Arthritis Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Gouty Arthritis Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, July 22, 2024 /EINPresswire.com/ -- The global gouty arthritis market1 is set to grow from $3.21 billion in 2023 to $3.44 billion in 2024, at a compound annual growth rate (CAGR) of 7.2%. This growth trajectory is expected to continue, with the market reaching $4.57 billion by 2028 at a CAGR of 7.3%, driven by factors such as increasing obesity rates, advancements in healthcare infrastructure, and heightened awareness of gout and its treatment.
Rising Prevalence of Obesity Drives Market Growth
The increasing prevalence of obesity is a major factor driving the growth of the gouty arthritis market. Obesity, characterized by an excessive buildup of body fat, is linked to a higher production of uric acid and reduced excretion, which leads to the accumulation of uric acid crystals in joints. This exacerbates inflammation and pain associated with gout. According to the World Health Organization, around 1 billion individuals were classified as obese in March 2022, and this figure is projected to rise, emphasizing the need for effective gouty arthritis treatments.
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Key Players and Market Trends
Major companies in the gouty arthritis market include 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., and Lupin Pharmaceuticals Inc. These companies are focusing on developing novel therapies, such as Cortrophin Gel, which received FDA approval in October 2023 for the adjunctive treatment of acute gouty arthritis flares.
Major Trends in the Market
The forecast period will witness several significant trends, including a growing demand for effective treatment options, advancements in regenerative therapies, and increased product launches and regulatory approvals. These trends reflect the ongoing efforts to improve treatment outcomes for gouty arthritis and address the rising incidence of the condition.
Segments:
• Type: Acute Gouty Arthritis, Chronic Gouty Arthritis
• Treatment: Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Pain Reliever, Corticosteroids, Xanthine Oxidase Inhibitors, Uricosurics, Others Treatments
• Diagnosis: Joint Fluid Test, Blood Test, X-Ray Imaging, Ultrasound, Dual Energy Computed Tomography (CT) Scan, Other Diagnosis
• Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Others Distribution Channels
• End-Users: Hospitals, Specialty Clinics, Other End-Users
Geographical Insights: North America Leading, Europe Fastest-Growing
North America was the largest region in the gouty arthritis market in 2023. However, Europe is expected to be the fastest-growing region during the forecast period, driven by increasing awareness and improved healthcare infrastructure.
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Gouty Arthritis Global Market Report 20242 from TBRC covers the following information:
Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Gouty Arthritis Global Market Report 2024 by The Business Research Company3 is the most comprehensive report that provides insights on gouty arthritis market size, gouty arthritis market drivers and trends, gouty arthritis market major players, competitors' revenues, market positioning, and market growth across geographies. The gouty arthritis market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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