Asia Gout Disease Treatment Market, By Drug Class (Nonsteroidal Anti-inflammatory Drugs (NSAIDs), Corticosteroids, Colchicine, and Urate-lowering Agents), By Route of Administration (Oral and Injectable), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Country (China, India, Japan, South Korea, Thailand, Indonesia, Singapore, Vietnam, and Rest of Asian Countries), is estimated to be valued at US$ 643.5 million in 2020 and is expected to exhibit a CAGR of 9.1% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Asia Gout Disease Treatment Market – Impact of Coronavirus (Covid-19) Pandemic
The lockdown in various countries due to COVID 19 pandemic has created an economic burden on the private healthcare sector. Healthcare providers are facing challenges with regards to manpower, equipment, consumables, and other resources to ensure safety in treatment of patients with other diseases, and declining outpatient visits, etc. Moreover, the coronavirus pandemic has negatively impacted the development, production, and supply of drugs and affected growth of the healthcare businesses of various companies across the globe. This has led to closure of industrial establishments, except manufacturing of essential commodities and disruption in supply chain of products. Thus, COVID-19 pandemic has affected the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets.
Supply chain and manufacturing activities in India and China have been disrupted due to the global lockdowns, while countries such as Thailand, Indonesia, Singapore, and others are facing problems with regards to transportation of drugs. Thus, impact of the coronavirus (COVID-19) pandemic is expected to limit growth of the Asia gout disease treatment market during the forecast period.
Browse 41 Market Data Tables and 33 Figures spread through 175 Pages and in-depth TOC on Asia Gout Disease Treatment Market, By Drug Class (Nonsteroidal Anti-inflammatory Drugs (NSAIDs), Corticosteroids, Colchicine, and Urate-lowering Agents), By Route of Administration (Oral and Injectable), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Country (China, India, Japan, South Korea, Thailand, Indonesia, Singapore, Vietnam, and Rest of Asian Countries), - Forecast to 2027"
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Companies are involved in drug developments, launches, and approvals for the treatment of gout disease, which is expected to drive growth of the Asia gout disease treatment market during the forecast period. For instance, in June 2020, Teijin Pharma Limited conducted clinical research for two test drugs, TMX-049 (for the treatment of Gout, hyperuricemia) and TMX-67HK (Febuxostat) (for the treatment of Gout, hyperuricemia (pediatric patient)). Currently, both the test drugs are in Phase II of the clinical trial.
Similarly, in October 2019, Horizon Therapeutics plc initiated an open-label clinical trial for the evaluation of the use of KRYSTEXXA (pegloticase injection) in adults with chronic gout– also known as uncontrolled gout – who have undergone a kidney transplant to demonstrate that KRYSTEXXA may provide effective disease control without burdening the kidneys.
Moreover, in December 2015, AstraZeneca Plc announced that the U.S. Food and Drug Administration (FDA) approved ZURAMPIC (lesinurad) 200mg tablets in combination with a xanthine oxidase inhibitor (XOI) for the treatment of hyperuricemia associated with gout in patients. Post approval, ZURAMPIC (lesinurad) will be available worldwide, including Asia Pacific region.
Key Takeaways of the Asia Gout Disease Treatment Market: