According to the research report titled ‘Gout Therapeutics Market Share, Size, Trends, Industry Analysis Report, By Drug Class, Disease Condition; By Regions, Segments & Forecast, 2020 - 2026’, available with Market Study Report, global gout therapeutics market is anticipated to showcase an appreciable growth rate during 2020-2026 and accumulate USD 6,304.8 million by the end of the analysis period.
 

Growing prevalence of gout along with increasing occurrences of comorbid conditions and surging cardiovascular risk factors are the primary growth drivers of global gout therapeutics market. Booming geriatric population with higher susceptibility to these conditions is likely to augment the industry growth in the upcoming years.
 

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Furthermore, increasing research and development activities, growing number of product approvals, and increasing public and private investments are the other rationales contributing to global gout therapeutics market expansion.
 

On the contrary, patent expiry for several products, high costs of newly launched drugs, and intensifying competition for generic products will hinder the market growth. In addition, spike in costs of gout therapies due to federal policy verdicts and pipeline development will negatively impact global gout therapeutics market revenue.  
 

Geographically, North America is currently the leading contributor to global gout therapeutics market remuneration, owing to significant number of research projects, presence of large patient base in US and Canada, and high concentration of industry players in the region. Further, government initiatives towards promoting awareness and improving healthcare facilities is positively impacting the regional market outlook.
 

On the other hand, Europe gout therapeutics industry is benefitting from numerous new product launches across the region. Meanwhile, Asia Pacific market is slated to grow rapidly over the projected timeframe. Increasing smoking and alcohol consumption among the populace, growing presence of local and international players, and economic progression in nations like India, South Korea, China, and other South Asian countries are contributing to APAC gout therapeutics market expansion.
 

Major companies operating in global gout therapeutics market space are Grunenthal Group, Selecta Biosciences Inc., JW Pharmaceutical Corp., Ironwood Pharmaceuticals Inc., Regeneron Pharmaceuticals Inc., Teijin Pharma Ltd., Merck & Co. Inc., Novartis AG, GSK plc, Takeda Pharmaceutical Co. Ltd., and AstraZeneca plc.