Rising Patient Pool and Increasing Healthcare Expenditure to Invite Favorable Growth Prospects for Gout Therapeutic Market during 2019-2027

TMR

- The global gout therapeutic market may gain extensive growth on the back of the increasing geriatric population and favorable reimbursement policies across many countries

- Gout therapeutic market was valued at US$ 1874 mn in 2018 and is extrapolated to reach a valuation of US$ 3820 mn by end of the forecast period

ALBANY, N.Y, Nov. 19, 2020 /PRNewswire/ -- Alcohol consumption has risen to a great extent over the years. The busy lifestyle and the growing stress among a considerable chunk of the populace have led to excess consumption of alcohol. Consumption of alcohol, in excess, is not good for the body and leads to gout. Thus, the swelling numbers of alcohol consumers may serve as a vital growth-generating factor for the gout therapeutic market.

Gout is a severe form of arthritis and can result in sudden attacks of pains in the joints. It is caused by urate crystals deposition and hyperuricemia.  It is more common in males as compared to females. Severe pain, redness and tenderness in joints are some of the common symptoms of gout.

According to the Nationwide Emergency Sample (NEDS), the total number of ED visits per year among the patients with a primary diagnosis of acute gout has increased by 26.8 percent from 2006 to 2014.

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Gout is often prevalent among older individuals. Thus, the expanding geriatric population is also a great growth generator for the gout therapeutic market.

The increasing prevalence of gout has urged the researchers to accelerate their activities to enable advancements. Escalating investments in the gout therapeutic sector may substantially bring notable growth. The heightening awareness about the benefits of gout therapy may serve as a prominent growth booster for the gout therapeutic market.

A considerable rise in research and development activities for finding an effective therapy for gout may invite expansive growth opportunities for the gout therapeutic market. The rise in innovations in the biologics field is further inviting immense growth prospects for the gout therapeutic market. The cost-effectiveness of drugs related to gout is also a notable factor that positively influences the growth of the gout therapeutic market.