Kenneth Research has recently added a report “global gout therapeutics market” in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2022-2031. Gout Therapeutics market is further anticipated to grow with a CAGR of 16% during the forecast period.
Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
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The global gout therapeutics market is anticipated to attain a revenue of USD 2.9 in the year 2031. Increasing prevalence of chronic diseases, such as diabetes, cancer, and others is also anticipated to contribute to the market growth. The prevalence of diabetes amongst the population aged 20 and 79 was recorded to be around 9% in the year 2019. Moreover, cancer, which is also known to be one of the leading causes of death around the globe, accounted for nearly 10 million deaths in the year 2020. Further, the most common cancers in the year 2020 was breast cancer which recorded to nearly 2.3 million cases in the same year.
The global gout therapeutics market is segmented. The report further covers a detailed analysis on the five important regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. These regions are further sub-divided into the following:
· North America (U.S. & Canada)
· Latin America (Argentina, Mexico, Brazil, Rest of Latin America)
· Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe)
· Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
· Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa)
The study on the global gout therapeutics market further consists of an extensive research analysis by the use of numerous statistical tools that helps the reader to understand the various parameters, such as revenue of the market, growth opportunities and indicators, market segmentation, and the drivers and challenges impacting the market growth.
The global gout therapeutics market in the Asia Pacific is projected to display significant growth opportunities during the estimate period owing to the increasing favorable initiatives of the government of the nations in the region, such as China, India, Japan, Korea, and others, by means of funding for the development of healthcare infrastructure, along with the growing population in the region, which is raising the need for basis healthcare services. The current healthcare expenditure (% of GDP) in the East Asia and Pacific region, according to the statistics by the WHO, grew from 6.20% in 2001 to 6.69% in 2018. Additionally, the current healthcare expenditure per capita (current US$) grew 3x from USD 222.49 in 2001 to USD 721.88 in 2018.
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https://www.kennethresearch.com/report-details/gout-therapeutics-market/10082385
The key players operating in the global gout therapeutics market are Novartis AG, AstraZeneca PLC, Regeneron Pharmaceuticals Inc., Teijin Pharma Limited, Merck & Co., Inc., GlaxoSmithKline plc, Bristol-Myers Squibb Company, Lannett Company, Inc., Horizon Therapeutics plc, Viatris Inc., and others. The report further contains deep insights on the business strategies of these players, along with their key performance indicators, recent developments, SWOT analysis, and others.
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