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Press Release: Asia Gout Disease Treatment Market to Surpass US$ 1,180.6 million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Gout is a condition that is characterized by the formation of excess uric acid in body tissues that result in the formation of crystals of monosodium urate. Symptoms of gout include intense pain, swelling, and stiffness in the joints. Asia gout disease treatment market is expected to witness significant growth due to increasing number of pipeline products. For instance, Shanton Pharma Co., Ltd, a China-based biotech company, has its major drug candidate SAP-001 in pipeline. SAP-001 is developed as a new investigational Uric Acid Transporter 1 (URAT1) inhibitor for the chronic management of hyperuricemia and gout.
Asia Gout Disease Treatment Market– Impact of Coronavirus (Covid-19) Pandemic
The Covid – 19 pandemic is expected to drive growth of the Asia gout disease treatment market over the forecast period. Since December 2019, a novel coronavirus spread throughout China and across the world, causing a continuous increase in confirmed cases within a short period of time. The disease has spread to more than 100 countries across the globe and the World Health Organization declared it as a public health emergency. For instance, according to the World Health Organization Coronavirus Disease (COVID-19) Dashboard (WHO) report, the manifestation of the coronavirus disease (COVID-19) has resulted in more than 11 million infected individuals worldwide as of July 2020.
Furthermore, according to the CreakyJoints, May 2020, people with gout may be considered in a higher-risk group for potential COVID-19 complications. The coronavirus (COVID 19) pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors. The private healthcare sector is one the sectors, which has been majorly impacted by the COVID 19 pandemic.
The Asia gout disease treatment market is estimated to be valued at US$ 643.55 Million in 2020 and is expected to exhibit a CAGR of 9.1% during the forecast period (2020-2027).
Figure 1: Asia Gout Disease Treatment Market Share (%) Analysis, By Drug Class, 2020
Asia gout disease treatment market is expected to grow significantly in the near future, owing to presence of major market players
Market players are more focused on adoption of inorganic growth strategies such as acquisitions, collaborations, and partnerships to strengthen their anti-gout drugs portfolio. For instance, in September 2019, Simcere Pharmaceutical Group and JW Pharmaceutical (both China-based companies) entered into a collaboration and exclusive license agreement for the development of anti-gout drug candidate URC-102 in China. Under this agreement, the responsibilities of clinical trial and registration will be taken by Simcere Pharmaceutical Group. The candidate, URC-102, is a selective inhibitor of uric acid transporter (URAT-1) and it is in Phase IIb clinical trial in patients with gout disease in South Korea.
Furthermore, big pharmaceutical companies such as Takeda Pharmaceutical and AstraZeneca adopted inorganic growth strategies. For instance, in April 2012, Takeda Pharmaceutical (Japan-based) acquired the URL Pharma Inc., a Philadelphia-based company, in order to expand its gout disease treatment portfolio with the acquisition of marketed gout therapy Colcrys (colchicine), developed by URL Pharma Inc.
Similarly, in December 2018, InventisBio announced that it had signed a collaboration agreement with Betta Pharma. Under this agreement, InventisBio will out-license D-0316's rights in China (including mainland China, Hong Kong, and Taiwan) to Betta Pharma and to co-develop this drug in China. Betta Pharma will have the exclusive commercialization rights of D-0316 product in China.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 643.55 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 9.1% | 2027 Value Projection: | US$ 1,180.61 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
AstraZeneca Plc, Takeda Pharmaceutical Company Limited, Teijin Pharma Limited, Hikma Pharmaceuticals Plc., Hikma Pharmaceuticals Plc., Zyla Life Sciences, Horizon Therapeutics plc, JW Pharmaceutical CORPORATION, and LG Chem |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Asia Gout Disease Treatment Market– Restraints
The adverse effects and risks associated with drugs such as NSAIDS and urate-lowering agents is major factor restraining growth of this market. Most of the gout drugs are associated with some severe side effects, which may lead to decrease in demand for these drugs. Nonsteroidal anti-inflammatory drugs (NSAIDs) may cause some gastric problems such as indigestion. In some cases, these drugs can cause gastric ulcers, bleeding, and rashes in gastrointestinal GI tract. Moreover, side effects such as intolerability and contraindication may limit the use of these drugs in the treatment of gout.
For instance, in February 2019, the U.S. Food and Drug Administration (FDA) announced to add a new boxed warning for febuxostat, as there is increased risk of death associated with Uloric (febuxostat) compared to another gout medicine, allopurinol. Febuxostat belongs to the urate-lowering agents.
Figure 2: Asia Gout Disease Treatment Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027
Asia Gout Disease Treatment Market– Competitive Landscape
Some of the key players operating in the Asia gout disease treatment market include AstraZeneca Plc, Takeda Pharmaceutical Company Limited, Teijin Pharma Limited, Hikma Pharmaceuticals Plc., Hikma Pharmaceuticals Plc., Zyla Life Sciences, Horizon Therapeutics plc, JW Pharmaceutical CORPORATION, and LG Chem.
Gout is a chronic disease characterized by the pain and inflammation in the joints. It is also known as gout arthritis, in which high level of uric acid in blood leads to formation of needle-like crystals in the joints resulting in inflammation and pain. This condition can be treated or prevented with the use of drugs such as nonsteroidal anti-inflammatory drugs, corticosteroids, colchicine, and urate-lowering agents. Moreover, monoclonal antibody is also used to treat gout in certain cases in which, nonsteroidal anti-inflammatory drugs, corticosteroids, colchicine, and urate lowering agents are unresponsive to the patient.
Market Dynamics
Increasing prevalence of gout disease is expected to increase demand of anti-gout drugs, which is expected to drive growth of the Asia gout disease treatment market growth over the forecast period. For instance, according to the National Center for Biotechnology Information (NCBI) (Rheumatology journal), the prevalence of gout in 2015 increased in South Korea compared to 2007 (earlier reported prevalence). In 2007, the prevalence of gout disease in South Korea was 3.49 (3.48-3.51) per 1,000 persons and in 2015, the prevalence of gout disease in South Korea was 7.58 (7.55-7.60) per 1,000 persons. Moreover, according to the data from the Australian Bureau of Statistics 2017–2018 (a National Health Survey), an estimated 187,000 people of Australia (0.8% of the Australia population) were diagnosed with gout disease in 2017.
Moreover, increasing product approvals by regulatory authorities is expected to drive growth of the Asia gout disease treatment market. For instance, in December 2018, SunGen Pharma, a privately held company, received the U.S. FDA approval for Prednisone (generic version of Deltasone), a drug with various strengths 10 mg, 20 mg, and 50 mg tablets, to treat various conditions such as arthritis, gout, blood disorders, immune system disorders, and others.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 41 market data tables and 33 figures on “Asia Gout Disease Treatment Market” - Forecast to 2027”
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