by Gout disease commonly occurs in joints such as the big toe, ankles, elbows, and wrists. It causes sudden, severe attacks of pain, swelling and tenderness in one or more joints. Gout causes deposits of needle-like urate crystals in the joint or surrounding tissues which results in sudden and severe joint pain as a flare-up or attack. Medications used to treat attacks of gout include nonsteroidal anti-inflammatory drugs (NSAIDs) and colchicine. Medications used to prevent future attacks include allopurinol and febuxostat. The global gout disease treatment market is driven by the growing geriatric population as gout prevalence increases with age.
The global Gout Disease Treatment Market is estimated to be valued at US$ 3.01 Bn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the gout disease treatment market is the development of interleukin-1 inhibitors that directly target inflammation in gout. Interleukin-1 (IL-1) is a pro-inflammatory cytokine that plays a central role in the development of gout inflammation. Currently approved IL-1 inhibitors for treating gout include canakinumab, rilonacept and gevokizumab. These specific IL-1 inhibitors are more effective than conventional drugs for acute gout flare and reduce painful joint symptoms. Their adoption is expected to grow rapidly over the forecast period which will drive the overall market growth.
Another major trend is the preference of biologics and biosimilars over conventional drugs for gout disease treatment. Biologic drugs such as anakinra, rilonacept and canakinumab selectively target specific elements of the immune system and are more effective than conventional drugs for managing gout symptoms. With patent expiries of biological drugs, biosimilar versions are introduced which are more affordable and drive treatment access and market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the gout disease treatment market requires high R&D investments and regulatory approvals.
Bargaining power of buyers: The bargaining power of buyers is moderate given the availability of alternative treatment options.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of many suppliers in the market.
Threat of new substitutes: The threat of new substitutes is low as there are limited treatment alternative available for gout.
Competitive rivalry: The competitive rivalry is high among the existing players to gain higher market share.
Key Takeaways
The global gout disease treatment market growth is expected to witness high. Regional analysis related content comprises Regional analysis related content North America is expected to dominate the global gout disease treatment market during the forecast period.
Key players related content comprises Key players operating in the gout disease treatment market are Kerry Group plc, Takasago International Corporation, Sensient Technologies Corporation, Symrise AG, Givaudan SA, Firmenich International SA, Frutarom Industries Ltd., Citromax Flavors, Inc., and International Flavors & Fragrances Inc. The key players are focusing on new product launches to gain higher market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
