Market Highlights
Global Gout Market is expected to register a healthy CAGR of 8.4% during the forecast .
Gout is a common form of inflammatory arthritis. Gout is caused due to higher levels of uric acid in the blood. Major risk factors that are likely to cause gout are certain health factors such as high cholesterol, high blood pressure, and certain medications that can cause high levels of uric acid. Additionally, factors such as diet containing red meat, obesity, and high consumption of alcohol can cause gout.
The global gout market is expected to grow a healthy growth due to various factors such as increasing obesity rates, increasing aging mass, rising population indulging in smoking, and low fiber diet along with the increasing healthcare expenditure.
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Regional Analysis
The Americas dominates the global gout market owing to the increasingly obese population and increasing rate of cigarette smokers. Additionally, increasing obesity rates along with the increasing healthcare expenditure are likely to enhance the growth of gout in the North American region. For instance, according to the Center for Disease Control and Prevention, in 2015, 1 in 8 American adults had high cholesterol levels. Additionally, around USD 3.2 trillion was spent on healthcare expenditure in the U.S.
Europe accounts for the second largest market due to increasing aging mass and increasing obesity rates. Additionally, increasing government initiatives and increasing healthcare spending along with the rising demand for technologically advanced treatments are driving the growth of the gout market in Europe. For instance, Eurostat estimated that over 19.2% of the population in Europe was aged 65 and above. This increasing older population is likely to drive the growth of the gout market.
Asia Pacific is the fastest growing market for gout whose growth is attributed to the rising population which in turn increases the overall patient population, rising population indulging in smoking, and low fiber diet. Additionally, the increasing healthcare expenditure and demand for new treatment options along with the rise in the standard of living are likely to drive the growth of the market. India and China are the major contributors to the market growth due to the rapid development of healthcare infrastructure in these regions and increasing demand for diagnostic services.
On the other hand, the Middle East and Africa is expected to witness a slow growth due to limited access to healthcare services and affordability issues among individuals. In the Middle East, the growth of the market is driven by the increasing availability of new and advanced diagnostic and treatment methods for various chronic diseases.
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Segmentation
The global gout market is segmented on the basis of treatment, type, end-user, and diagnosis.
On the basis of type, the market is segmented into tophaceous gout and pseudogout.
On the basis of treatment, the market is segmented into medications and self-care. The medication segment is further sub-segmented into Allopurinol, Febuxostat, Probenecid, Indomethacin, Diclofenac, and Ibuprofen.
On the basis of diagnosis, the market is segmented into X-ray, CT scan, blood test, MRI, ultrasound, urine test, and others.
On the basis of end-user, the market is segmented into hospital specialty centers and homecare.
Key Players
Some of the key players in the gout market are Takeda Pharmaceutical Company Ltd., Savient Pharmaceuticals, AstraZeneca plc, Merck& Co. Inc., Inc.Ardelyx, Inc., Astellas Pharma Inc., and Novartis AG.
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