The Worldwide Gout Market is expected to grow at a CAGR of 8.4% during the forecast period 2018 to 2023. The Global Gout Market is majorly driven by the increasing prevalence of obesity, rising older population leading to rise in the patient population, the rise in cigarette smoking population, and growing mass young population inclined towards a sedentary lifestyle. Additionally, factors such as government initiatives and support, rising demand for advanced treatment, and growing market players offering newer products are likely to drive the market.
According to the United Nations, in 2017 approximately over 962 million population was aged over 60 and above globally. The United Nations has also estimated that by 2050, the number of older population is likely to reach 425 million. This increasing aging population is likely to propel the growth of the global gout market. Factors that are likely to hamper the growth of the market are the lack of awareness about the symptoms of the disease.
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Gout Market 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.
Gout Market For Top 10 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.
Gout Market 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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MAJOR TABLE OF CONTENTS FOR GOUT MARKET RESEARCH REPORT – FORECAST TO 2023:
1. Report Prologue
2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
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