Asia Gout Disease Treatment Market to surpass US$ 1,180.6 Mn by end of 2027, Says Coherent Market Insights (CMI)

Sept. 4, 2020 14:10 UTC

 

 
 

SEATTLE--(BUSINESS WIRE)-- According to Coherent Market Insights, the Asia gout disease treatment market is estimated to be valued at US$ 643.5 Mn in 2020 and is expected to exhibit a CAGR of 9.1% during the forecast period (2020-2027).

Key Trends and Analysis of the Asia Gout Disease Treatment Market:

Market players are 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 entered a collaboration and exclusive license agreement for the development of anti-gout drug candidate, URC-102, in China.

Similarly, in December 2018, InventisBio announced that it signed a collaboration agreement with Betta Pharma. Under this agreement, InventisBio will out-license D-0316's right 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.

According to National Center for Biotechnology Information (NCBI) Rheumatology journal, the prevalence of gout in 2015 increased in South Korea when compared to 2007 (earlier reported prevalence). In 2007, the prevalence rate 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 data from the Australian Bureau of Statistics 2017–18 (a National Health Survey), an estimated 187,000 Australians (0.8% of the Australian population) were diagnosed with gout disease in 2017.

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Key Market Takeaways:

The Asia gout disease treatment market is expected to exhibit a CAGR of 9.1% during the forecast period (2020-2027). The increasing prevalence of gout disease is expected to drive growth of the Asia gout disease treatment market.

Competitive Landscape:

Key players operating in 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.

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Market Segmentation:

  • Asia Gout Disease Treatment Market, By Drug Class:
    • Nonsteroidal Anti-inflammatory Drugs (NSAIDs)
    • Corticosteroids
    • Colchicine
    • Urate-lowering Agents
  • Asia Gout Disease Treatment Market, By Route of Administration:
    • Oral
    • Injectable
  • Asia Gout Disease Treatment Market, By Distribution Channel:
    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Pharmacies
  • Asia Gout Disease Treatment Market, By Country:
    • China
    • India
    • Japan
    • South Korea
    • Thailand
    • Indonesia
    • Singapore
    • Vietnam
    • Rest of Asian Countries

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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Source: Coherent Market Insights

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