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2014 - 2025 Global Gout Therapeutics Market Sales, Revenue, Analysis and Forecast
The global gout therapeutics market is expected to reach a value of USD 8.3 billion By 2025, based on a new report by Radiant Insights, Inc. The gout therapeutics market is anticipated to witness significant growth during the forecast period. This can be attributed to the introduction of major urate-lowering agents, approval of effective biologics, and increasing number of patients suffering from chronic gout.
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In December 2015, AstraZeneca's product, Zurampic (lesinurad), in combination with xanthine oxidase inhibitor (XOI) received an approval from the U. S. FDA to treat gout. Later in February 2016, the European Commission approved the drug throughout the European Union (EU). Hence, introduction of urate-lowering agents is expected to drive the market.
Introduction of biologics to treat gout and increasing adoption of newer therapies further help propel the industry. For instance, in March 2013, Novartis received an EU approval for the product, Ilaris, for use in the treatment of patients suffering from gouty arthritis.
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Further Key Findings From the Study Suggest:Nonsteroidal Anti-inflammatory Agents (NSAIDs) accounted for the highest share of the market in 2015, which can be credited to highest penetration, higher demand due to low cost, and efficient pain relief. Urate-lowering agents segment is expected to grow at the highest rate over the coming years. Expected entry of various new drugs, increasing adoption of drugs, and growing investment by key players for development of these agents are likely to drive the segment. Chronic gout dominated in 2015 and is expected to maintain its dominance during the forecast period. Approval of new drugs to treat chronic gout and long-term expenditure for treatment are the key factors responsible to propel the industry. NSAIDs, colchicine, and corticosteroids are majorly used to treat acute gout, and urate-lowering agents are utilized in chronic gout treatment in combination with NSAIDs or Colchicine. Geographically, North America dominated the overall industry in 2015. This is attributed to higher adoption of the newer & expensive treatments and rising awareness about arthritic conditions. Asia Pacific is expected to witness highest growth during the forecast period due to growing awareness and increasing healthcare expenditure. Furthermore, growing investment in the region by key players is likely to boost the regional growth. Some of the key players are Takeda Pharmaceutical Company Ltd.; Novartis AG; Savient Pharmaceuticals; AstraZeneca plc; GlaxoSmithKline plc; Merck& Co. Inc.; Teijin Pharma Ltd.; and Regeneron Pharmaceuticals.
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About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
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