The hyperuricemia drugs global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Hyperuricemia Drugs Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The hyperuricemia drugs market size has grown strongly in recent years. It will grow from $4.39 billion in 2023 to $4.75 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to the increasing prevalence of gout, limited treatment options, a growing geriatric population, sedentary lifestyles, and rising awareness of hyperuricemia.
The hyperuricemia drugs market size is expected to see strong growth in the next few years. It will grow to $6.54 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to rising incidences of chronic kidney disease, an increasing focus on early diagnosis, growing demand for personalized medicine, the development of novel drug formulations, and increasing healthcare expenditure. Major trends in the forecast period include a growing focus on precision medicine, increasing adoption of combination therapies, the development of non-invasive treatments, an increasing emphasis on drug safety and efficacy, and advancements in pharmacogenomics.
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Scope Of Hyperuricemia Drugs Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Hyperuricemia Drugs Market Overview
Market Drivers –
The rising incidence of hyperuricemia and gout is expected to propel the growth of the hyperuricemia drug market going forward. Hyperuricemia is a condition characterized by elevated levels of uric acid in the blood, which can lead to the development of gout, a painful form of arthritis caused by the accumulation of urate crystals in the joints. The incidence of hyperuricemia and gout is influenced by factors such as genetic predisposition, dietary habits (notably high purine intake), obesity, kidney function, lifestyle choices (alcohol consumption and dehydration), certain medications, and chronic conditions such as hypertension and diabetes. Hyperuricemia drugs are essential in controlling uric acid levels, which helps prevent the development and progression of hyperuricemia and gout by reducing uric acid buildup and alleviating associated symptoms. For instance, in July 2024, according to the data published by The Lancet, a UK-based general medical journal, globally, gout was 3.26 times more prevalent in males than in females in 2020 and increased with age, with an estimated 95.8 million prevalent cases expected by 2050. Therefore, the rising incidence of hyperuricemia and gout is driving growth in the hyperuricemia drug market.
Market Trends –
Major companies operating in the hyperuricemia drug market are focusing on developing innovative products, such as therapeutic equivalent generic versions, to provide a cost-effective alternative that enhances access to gout treatment for patients. Therapeutic equivalent generic versions are medications that contain the same active ingredient as a brand-name drug, are administered in the same dosage form, and are expected to have the same clinical effect and safety profile. For instance, in January 2024, Lupin, an India-based pharmaceutical company, received approval from US health regulator for Febuxostat Tablets (40 mg and 80 mg) and Varenicline Tablets (0.5 mg and 1 mg. These generic drugs aim to provide more affordable options for patients requiring hyperuricemia treatment (Febuxostat) and smoking cessation aid (Varenicline). By offering these generics, Lupin seeks to increase accessibility to essential medications while capturing a share of the US pharmaceutical market and supporting patients with cost-effective alternatives for their healthcare needs.
The hyperuricemia drugs market covered in this report is segmented –
1) By Type: Asymptomatic Hyperuricemia, Symptomatic Hyperuricemia, Other Types
2) By Drugs: Nonsteroidal Anti-Inflammatory Drugs, Xanthine Oxidase Inhibitors, Selective Uric Acid Reabsorption Inhibitor (SURI), Uricosuric Agents, Other Drugs
3) By Diseases: Gout, Kidney Stone, Other Diseases
4) By End-User: Hospitals, Homecare, Specialty Clinics, Other End-Users
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Regional Insights –
North America was the largest region in the hyperuricemia drugs market in 2023. The regions covered in the hyperuricemia drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the hyperuricemia drugs market are Pfizer Inc., Merck & Co., Bayer AG, Sanofi SA, Myers Squibb Bristol Company, AstraZeneca plc, Novartis AG, GlaxoSmithKline PLC, Roche Holdings Inc., Amgen Inc., Boehringer Ingelheim International GmbH, Teva Pharmaceuticals, Regeneron Pharmaceuticals Inc., Teijin Pharma Limited, Sun Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories Ltd., Hikma Pharmaceuticals PLC, Amneal Pharmaceuticals Inc., Glenmark Pharmaceuticals Ltd., Kissei Pharmaceutical Co. Ltd., Himalaya Wellness Company, Fuji Yakuhin Co. Ltd.
Table of Contents
1. Executive Summary
2. Hyperuricemia Drugs Market Report Structure
3. Hyperuricemia Drugs Market Trends And Strategies
4. Hyperuricemia Drugs Market – Macro Economic Scenario
5. Global Hyperuricemia Drugs Market Size and Growth
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32. Global Hyperuricemia Drugs Market Competitive Benchmarking
33. Global Hyperuricemia Drugs Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Hyperuricemia Drugs Market
35. Hyperuricemia Drugs Market Future Outlook and Potential Analysis
36. Appendix
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